• Global share markets rally in October despite ongoing economic and geopolitical pressures
  • WA1 Resources up 700% in October after a major rare earths discovery at the West Arunta project in WA.
  • Hawsons Iron share price plunges in October as its slows work on key project bankable feasibility study

Global share markets were mostly up in October in a positive sign of recovery for what has been a volatile 2022. While risk assets crashed all over the world in September, it was actually better news for markets in October with the sell-off easing.

There was still talk of a global recession amid slowing economic growth,  high inflation, rising interest rates and the continued war in Ukraine.

However, it wasn’t all doom and gloom with markets overall having a huge comeback in October. European stocks had their first monthly gain in three, while the Dow Jones capped off its best month since 1976.

The October gains came on the back of relative positive earnings seasons and also hopes that the US Federal Reserve would slow the pace of interest rate hikes.

At home the S&P/ASX 200 rose more than 6%, despite higher-than-expected inflation, which jumped to 7.3% over the year to September, its highest level since 1990.

Trimmed-mean inflation, the RBA’s preferred measure that trims away large price movements, rose 1.8% in the quarter and 6.1% annually suggesting inflation throughout the economy is broad-based.

Confidence appeared to be regained in the UK economy after Liz Truss became its shortest PM in history with former finance minister Rishi Sunak chosen as the Conservative Party’s new leader, putting an end to proposed controversial tax cuts.

However, October wasn’t so kind to China with the Hang Seng falling ~14% and as Stockhead’s Christian Edwards noted its zero Covid-19 policy having a huge impact.

Here’s how the markets performed in October:

World Equities

Index Sep to Oct move %
S&P 500 +5.26%
Dow Jones +10.99%
Nasdaq +1.60%
STOXX Europe 600 +5.48%
Germany DAX +8.55%
UK FTSE 100 +2.69%
France CAC 40 +8.16%
Nikkei 5.18%
HangSeng -14.01%
S&P/ASX 200 +6.30%
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Bonds 

Country Sep to Oct move (bp)
US +40bps
UK -42bps
Australia -10bps
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Commodities 

Commodity October move %
Brent crude +4.09%
Natural gas -8.18%
Coal -10.70%
Iron ore -16.83%
Gold -3.94%
Lithium carbonate +9.08%
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Here are the top 50 performing ASX stocks for October:

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Code Company Last Share Price Mth % return Market Cap
WA1 WA1 Resources 1.24 700% $36,003,409
CTT Cettire 1.625 118% $619,512,108
ELO Elmo Software 4.64 107% $462,194,975
ICE Icetana Limited 0.07 106% $13,952,989
SGQ St George Min Ltd 0.071 100% $49,701,264
CBR Carbon Revolution 0.38 85% $78,625,766
IMB Intelligent Monitor 0.11 83% $14,377,032
A1G African Gold Ltd 0.107146 81% $12,794,339
NET Netlinkz Limited 0.028 75% $91,669,472
CY5 Cygnus Gold Limited 0.47 74% $72,109,898
TOY Toys R Us 0.041 71% $35,386,554
PBL Parabellum Resources 0.45 70% $24,625,125
FCT Firstwave Cloud Tech 0.065 63% $108,053,005
CNR Cannon Resources 0.435 61% $33,505,389
TIE Tietto Minerals 0.7 61% $755,669,243
LEL Lithenergy 1.11 57% $66,766,500
NNG Nexion Group 0.11 57% $8,895,811
JXT Jaxsta Limited 0.028 56% $9,592,190
CSE Copper Strike Ltd 0.17 55% $22,596,044
DCN Dacian Gold Ltd 0.14 54% $170,352,131
PNV Polynovo Limited 2 54% $1,323,376,088
XRG Xreality Group Ltd 0.046 53% $19,480,525
AIV Activex Limited 0.049 53% $10,586,576
NVX Novonix Limited 2.68 52% $1,304,302,143
GSN Great Southern 0.05 52% $29,004,521
BPP Babylon Pump & Power 0.006 50% $14,746,628
ERG Eneco Refresh Ltd 0.024 50% $6,536,600
M8S M8 Sustainable 0.009 50% $4,418,176
MRL Mayur Resources Ltd 0.165 50% $39,997,348
RFR Rafaella Resources 0.045 50% $15,821,652
BYI Beyond International 0.75 50% $46,002,726
MCL Mighty Craft Ltd 0.195 50% $64,048,630
DNK Danakali Limited 0.38 46% $139,967,051
ACW Actinogen Medical 0.13 46% $233,466,196
ONE Oneview Healthcare 0.1325 46% $68,898,729
CRS Caprice Resources 0.065 44% $5,344,526
MOB Mobilicom Ltd 0.013 44% $17,306,636
IHR intelliHR Limited 0.079 44% $26,859,298
ATL Apollo Tourism 1.04 43% $193,596,944
FOD The Food Revolution 0.03 43% $28,402,850
RB6 Rubixresources 0.15 43% $4,057,500
AXI Axiom Properties 0.074 42% $32,020,811
TPP Tempo Australia 0.051 42% $18,570,911
IPD Impedimed Limited 0.089 41% $158,703,835
E25 Element 25 Ltd 1.06 40% $161,978,991
360 Life360 Inc. 6.91 40% $1,291,157,830
AKN Auking Mining Ltd 0.12 40% $13,609,753
BUR Burleyminerals 0.195 39% $6,692,995
LVE Love Group Global 0.1 39% $4,053,417
AS2 Askari Metals 0.43 39% $21,215,822
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WA1 Resources (ASX:WA1)

In terms of ASX October winners, the big standout was former tiny explorer WA1 Resources, which was up a staggering 700% after announcing the discovery of a niobium-rare earths carbonatite mineralised system at the West Arunta project in WA.

As Stockhead’s Josh Chiat explained niobium is a critical mineral mainly used in steel to make it stronger and lighter, but also has growing uses in lithium-ion batteries, intelligent glass, solar panels, 5G tech, and nuclear energy.

Ferroniobium metal (65% Nb) currently sells for ~US$45,000/t. WA1’s only drillhole into the P2 target, part of the Pachpadra prospect area, pulled up thick, high-grade numbers like 54m at 0.62% niobium, 0.18% rare earths and 3.85% phosphorus from 162m.

WA1 also got off to a good start in November, going into a trading halt after gaining  another 60% in early trade on Tuesday.

 

Cettire (ASX:CTT)

Also standing out in the ASX October winners list was online luxury retailer Cettire, which saw an impressive rise in its share price during the month prompting a please explain from the ASX.

Cettire put down the increase to its positive trading update announced on October 11. 

Among highlights was sales revenue growth exceeding 70% versus pcp, adjusted EBITDA of $5.5 million on a delivered margin greater than 20%  and continued strong growth in active customers and revenue from repeat customers.

Here are the worst 50 performing ASX stocks for October:

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Code Company Last Share Price Mth return % Market Cap
HIO Hawsons Iron Ltd 0.1 -75% $74,105,295
AJL AJ Lucas Group 0.032 -71% $44,023,348
IKW Ikwezi Mining Ltd 0.445 -70% $18,089,238
CNJ Conico Ltd 0.013 -66% $18,914,585
GSR Greenstone Resources 0.026 -60% $27,939,053
BFC Beston Global Ltd 0.026 -54% $25,961,610
LER Leaf Res Ltd 0.014 -53% $16,185,160
OXX Octanex Ltd 0.009 -53% $2,330,799
DAF Discovery Alaska Ltd 0.032 -51% $7,175,510
EML EML Payments Ltd 0.405 -49% $151,454,432
AMI Aurelia Metals Ltd 0.105 -48% $129,930,908
ARV Artemis Resources 0.027 -45% $37,568,296
NTM Nt Minerals Limited 0.01 -44% $6,339,007
DUB Dubber Corp Ltd 0.31 -44% $94,784,119
DUN Dundasminerals 0.36 -43% $14,479,380
WOA Wide Open Agricultur 0.26 -42% $33,418,261
MYE Metarock Group Ltd 0.185 -41% $24,233,621
RAG Ragnar Metals Ltd 0.017 -39% $6,446,143
DW8 DW8 Limited 0.004 -38% $11,306,090
WSP Whispir Limited 0.44 -38% $51,982,250
MCM Mc Mining Ltd 0.195 -38% $38,542,700
EMU EMU NL 0.005 -38% $3,436,341
JTL Jayex Technology Ltd 0.005 -38% $1,246,143
EAX Energy Action Ltd 0.085 -37% $2,294,031
CAI Calidus Resources 0.345 -37% $151,034,688
SIX Sprintex Ltd 0.0235 -36% $5,977,327
RAS Ragusa Minerals Ltd 0.22 -36% $28,822,778
NES Nelson Resources. 0.007 -36% $2,060,080
LIN Lindian Resources 0.21 -35% $182,161,232
ID8 Identitii Limited 0.034 -35% $6,841,137
UCM Uscom Limited 0.051 -35% $10,130,430
WC1 Westcobarmetals 0.18 -34% $12,555,014
ARE Argonaut Resources 0.001 -33% $5,428,538
CT1 Constellation Tech 0.004 -33% $5,884,801
GO2 Thego2People 0.01 -33% $4,066,383
JAV Javelin Minerals Ltd 0.001 -33% $9,454,153
MGG Mogul Games Grp Ltd 0.002 -33% $6,526,882
PUA Peak Minerals Ltd 0.006 -33% $6,248,225
GML Gateway Mining 0.059 -32% $13,334,647
MGT Magnetite Mines 0.017 -32% $64,460,168
3DA Amaero International 0.075 -32% $19,253,596
LV1 Live Verdure Ltd 0.15 -32% $8,684,649
ANR Anatara Ls Ltd 0.039 -32% $3,200,300
CDA Codan Limited 3.87 -32% $701,120,524
EDE Eden Inv Ltd 0.0065 -32% $17,622,988
PKO Peako Limited 0.013 -32% $4,929,365
VR8 Vanadium Resources 0.065 -32% $30,864,429
PGD Peregrine Gold 0.435 -31% $16,843,877
AQC Auspaccoal Ltd 0.275 -31% $95,510,512
SBM St Barbara Limited 0.51 -31% $416,181,239
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Hawsons Iron (ASX:HIO)

October wasn’t a good month for Hawsons Iron, which saw its share price plunge after announcing plans to slow work on a bankable feasibility study on its namesake project due to “escalating global costs and deteriorating economic conditions”.

The BFS will not be completed by the end of December 2022. Formerly known as Carpentaria Resources, Hawsons owns the deposit of the same name near the historic mining town of Broken Hill in New South Wales.