Shares in rare earths mining company Lynas Rare Earths (ASX:LYC) and gold producer Terrain Minerals (ASX:TMX) sharply dropped on the S&P/ASX 200 index today, which decreased by 0.44% to 8,804.4 points.
Lynas’ stock price decreased by 7.4% to $18.46, while Terrain was down by 10% to $0.005 per unit in the first hour of the Australian Securities Exchange opening for trade.
Black Cat Syndicate (ASX:BC8) dwindled by 12.88% to $1.15 per share while Resources and Energy Group (ASX:REZ) also reduced by 7.8% to $0.013 per unit.
The index declined for the fifth day after three days of gains. On April 14 the index rose by 0.34% to 8,930 points. On April 15 the index rose by 0.15% to 8,984.5 points. On April 16 the index rose by 0.15% to 8,984.5 points. On April 17 the index dropped by 0.29% to 8,928.7 points. On April 20 the index dwindled by 0.29% to 8,928.7 points. On April 21 the index shrank by 0.45% to 8,913.1 points. On April 22 the index fell 0.45% to 8,913.1 points
“The index has lost 1.71% for the last five days but sits 4.36% below its 52-week high,” the ASX markets website says.
As Mining.com.au previously reported, the index reported a third year of “positive returns” during 2025 despite “some concerns about the state of the world”.
“Big option trades using longer-dated contracts we found in January appear to be looking for continuation of this upward trend in 2026,” the ASX says.
Analysts expect share markets to have a positive outlook despite short-term pain.
“Markets, at least the equity market, seem [to be] pretty optimistic that the [Iran] ceasefire is going to hold, maybe it will be extended in that there might eventually be a peace deal,” Capital.com Senior Market Analyst Kyle Rodda tells the Australian Associated Press.
“It could certainly be a sign of complacency again in the market potentially mispricing the risk [but] that is the side of things that the traders are on,” he adds, according to the newswire agency.
Write to Richard Szabo at Mining.com.au
Images: Australian Securities Exchange via Facebook
