Local stocks have made a cautious start to the week, with the ASX 200 edging higher while the microcap Emerging Companies index traded flat into midday trade.

To kick off, an EV story out of Canada that we all saw coming — someone making the most of a general-use electricity outlet to charge their car.

Enterprising EV driver Brett Favaro initially copped an $80 fine for his trouble, before the carpark company rescinded it to a warning on the grounds of a ‘one-time courtesy’.

Favaro would have used one of the other 40 (actual) EV charging stations at the site, except they were all in use or out of order.

So his decision to use an open wall socket (primarily used for site maintenance) was one borne out of necessity.

Most EVs have the capacity to slow-charge from a standard wall socket to add an extra few kilometres to their battery (although the process takes a lot longer).

Back on Monday markets, the ASX resources sector is up by more than 1% as investors continue to position for a commodities boom as the world adapts to a complex combination of military conflict (with resources-rich nations), rising inflation and higher bond yields.

Reflecting that price action, ASX technology stocks (which have posted outsized gains amid more positive risk sentiment over the past fortnight) were a notable laggard in morning trade.

Gold and oil are slightly lower, although still trading near recent highs above US$1,950/oz and US$110/barrel respectively.

In a recent research note, Macquarie said that looking ahead, Australian resources will continue to be in demand.

“As countries look for sources of supply in stable democratic countries, Australia stands out,” Macquarie said.

“This is likely why the AUD has risen 5% in the last month, and based on where commodity prices are today, the AUD could already be worth ~95c,” the bank said.

The AUD was higher against most major currency pairs on Monday, holding just above US75c into midday trade.


Here are the best performing ASX small cap stocks for March 28 [intraday]:

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Shareholders in Tempest Minerals (ASX:TEM) were cheering this morning, after the company came out of a trading halt and flagged an exciting new copper discovery in WA’s Yalgoo region.

Tempest said its first drill-hole at the site had intersected “significant visible copper sulphide mineralisation with assays pending”.

Commenting on the results, Tempest said they were “directly comparable to the nearby world-class Golden Grove poly-metallic mine”.

Shares in the company more than tripled at the opening bell — the biggest discovery-based surge seen on the ASX in some time.

Another strong performer was copper-gold explorer Far East Gold (ASX:FEG), which debuted with a gain of more than 30% after raising $12m from investors at 20c per share to advance six advanced-stage tenements across Australia and Indonesia, including a +1Moz gold resource at the ‘Wonogiri’ project in Indonesia.

Elsewhere, Discovery Alaska (ASX:DAF) — previously known as Discovery Africa and now exploring the 199.4sqkm ‘Chulitna’ project in Alaska — rose by more than 30% on no news.

Also rising strongly on no news was B2B lender N1 Holdings (ASX:N1H), which has bounced back from a recent selloff and is now up by around 200% for the year.


Here are the worst performing ASX small cap stocks for March 28 [intraday]:

Swipe or scroll to reveal full table. Click headings to sort: