Pic: Getty
ASX Small Cap Lunch Wrap: Who’s flying with the hawks today?
News
share
Heads up, it looks like global interest rates might rise before 2024 after all.
The central bank that manages the world’s reserve currency — the US Fed — met for its latest policy announcement overnight.
And the main take from analysts was that its outlook was a bit more hawkish than expected.
Until last night, the Fed had stuck firm to its stance that rates won’t climb off the mat for another three years.
But the latest consensus forecast from Fed committee members shows they now think there will be two rate rises in 2023.
US stocks fell by more than 1% before the S&P500 climbed back to finish 0.5% lower, and the ASX200 is down by around the same amount in morning trade today.
With inflation rising through the middle of this year, the outlook for stocks may now shift to whether strong economic growth and rising company profits can offset the prospect of tighter liquidity settings.
The US dollar rose in the wake of the Fed announcement which saw USD-denominated gold take a hit, while Bitcoin fell back below US$40,000.
And the AUD got a boost after a booming jobs print which saw monthly employment levels rise by 115,000, against a forecast rise of just 30,000.
The ASX microcap Emerging Companies index fell again, and is on track for its third straight daily decline of more than 1%.
WINNERS
Here are the best performing ASX small cap stocks at 12pm Thursday, June 17:
Swipe or scroll to reveal the full table. Click headings to sort.
| CODE | NAME | PRICE | % CHANGE | VOLUME | MARKET CAP |
|---|---|---|---|---|---|
| FTZ | Fertoz Ltd | 0.12 | 56 | 1,795,853 | $14,176,677 |
| ANL | Amani Gold Ltd | 0.0015 | 50 | 3,011,086 | $12,386,997 |
| CLZ | Classic Min Ltd | 0.0015 | 50 | 17,415,000 | $20,110,632 |
| BIR | BIR Financial Ltd | 0.082 | 37 | 24,094,938 | $4,875,022 |
| GES | Genesis Resources | 0.019 | 36 | 679,690 | $10,959,778 |
| CYQ | Cycliq Group Ltd | 0.002 | 33 | 50,133,533 | $9,675,509 |
| PCL | Pancontinental Oil | 0.002 | 33 | 3,930,000 | $9,010,073 |
| DOR | Doriemus PLC | 0.23 | 31 | 532,311 | $12,683,808 |
| TRM | Truscott Mining Corp | 0.032 | 28 | 1,404,275 | $3,423,539 |
| ECG | Ecargo Holdings | 0.025 | 25 | 4,853 | $12,305,000 |
| VBS | Vectus Biosystems | 1.25 | 24 | 58,500 | $31,971,948 |
| ICG | Inca Minerals Ltd | 0.135 | 17 | 1,134,691 | $47,279,253 |
| AMD | Arrow Minerals | 0.007 | 17 | 335,832 | $9,992,863 |
| CZN | Corazon Ltd | 0.036 | 13 | 707,426 | $6,497,733 |
| PAK | Pacific American Hld | 0.019 | 12 | 3,155 | $5,415,943 |
| PGM | Platina Resources | 0.076 | 12 | 1,786,277 | $28,535,962 |
| LKE | Lake Resources | 0.3 | 11 | 6,816,911 | $277,145,326 |
| LNY | Laneway Res Ltd | 0.005 | 11 | 23,490 | $16,987,797 |
| OEL | Otto Energy Limited | 0.01 | 11 | 1,781,893 | $43,155,088 |
| SWM | Seven West Media Ltd | 0.44 | 11 | 2,944,018 | $615,213,747 |
| CGB | Cann Global Limited | 0.055 | 10 | 66,892 | $25,696,276 |
| BTH | Bigtincan Hldgs Ltd | 1.12 | 10 | 3,196,209 | $423,229,396 |
Gains this morning were led by organic fertiliser company Fertoz Ltd (ASX:FTZ), which jumped by around 50% to 12c.
The company said it received more positive updates from a two-year field study combining its organic rock phosphate with potash fertilisers.
The use of the phosphate allows customers to reduce the carbon footprint from their fertiliser use, and FTZ said its resulted in increased customer activity in Canada and Europe, where existing carbon taxes are expected to drive demand for low-carbon solutions.
LOSERS
Here are the worst performing ASX small cap stocks at 12pm Thursday, June 17:
Swipe or scroll to reveal the full table. Click headings to sort.
| CODE | NAME | PRICE | % CHANGE | VOLUME | MARKET CAP |
|---|---|---|---|---|---|
| NPM | Newpeak Metals | 0.0015 | -25 | 2,754,584 | $11,408,323 |
| NTL | New Talisman Gold | 0.003 | -25 | 151,119 | $11,168,901 |
| SIT | Site Group Int Ltd | 0.01 | -23 | 2,600,000 | $10,936,187 |
| AFR | African Energy Res | 0.022 | -21 | 7,305 | $17,442,898 |
| LHM | Land Homes Grp Ltd | 0.012 | -20 | 51,735 | $15,740,839 |
| FG1 | Flynngold | 0.16 | -20 | 2,738,378 | $12,000,000 |
| STM | Sunstone Metals Ltd | 0.014 | -18 | 7,837,564 | $37,569,790 |
| BAS | Bass Oil Ltd | 0.0025 | -17 | 1,565,830 | $10,026,420 |
| BSM | Bass Metals Ltd | 0.005 | -17 | 2,102,532 | $26,308,742 |
| CCE | Carnegie Cln Energy | 0.0025 | -17 | 1,266,871 | $44,107,721 |
| VIC | Victory Mines Ltd | 0.0025 | -17 | 1,969,638 | $16,704,758 |
| WOO | Wooboard Tech Ltd | 0.0025 | -17 | 350,069 | $11,466,488 |
| MHI | Merchant House | 0.077 | -14 | 12,884 | $8,483,985 |
| TEG | Triangle Energy Ltd | 0.024 | -14 | 11,145,242 | $17,381,377 |
| IGN | Ignite Ltd | 0.054 | -14 | 157,579 | $5,643,677 |
| AUQ | Alara Resources Ltd | 0.013 | -13 | 123,795 | $10,581,439 |
| HIQ | HitIQ Limited | 0.2 | -13 | 2,193,094 | $26,002,922 |
| JAY | Jayride Group | 0.24 | -12 | 227,666 | $33,756,889 |
| ORR | Orecorp Ltd | 0.825 | -13 | 39,555 | $302,784,565 |
| AEV | Avenira Limited | 0.007 | -13 | 1,242,857 | $6,902,823 |
| AO1 | Assetowl Limited | 0.007 | -13 | 20,691,916 | $6,492,041 |
| HNR | Hannans Ltd | 0.007 | -13 | 575,000 | $18,879,818 |
