The ASX will head into the Anzac day long weekend on a slightly sour note following a Friday selloff.

For the microcap Emerging Companies index, it was a ~1.5% fall on the day — but that didn’t stop another triple-digit percentage return, this time in the fintech sector.

Across markets more broadly, it was a familiar refrain as the main story on 2022 markets — global interest rates — took centre stage.

Today’s session on the ASX was close to a replica of US stocks overnight, after the US Fed prepped investors a 50 basis point rate increase in March.

With US company earnings season in full swing, the Friday session on Wall Street may suffer from a Thursday hangover with S&P500 futures pointing around 0.3% in afternoon Asian trade.

 

TODAY’S BIGGEST SMALL CAP WINNERS

(Stocks highlighted in yellow rose after making announcements during the trading day).

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Amid the broader market malaise, tax-automation fintech Way2Vat (ASX:W2V) had a big Friday after confirming the launch of its Smart Spend Debit Mastercard.

In partnership with UK lender Railsbank, the platform allows clients to submit spend receipts and capture invoices through Way2VAT’s proprietary technology platform, automating the tax component (GST or VAT) to remove manual processing.

With its product live in-market, investors were more optimistic on the stock which initially surged more than 100%, before closing 72.73% higher.

In resources, investors leapt at the latest piece of lithium news, as WA-based Alchemy Resources (ASX:ALY) surged higher after flagging that Karonie gold project in WA also has soil anomalies that are consistent with possible hard rock lithium mineralisation.

Junior explorer Larvotto Resources (ASX:LRV), which is looking for copper, gold, cobalt, PGE and lithium across projects in Australia and New Zealand, is also in investor sights.

The company ripped higher on no news, three days after a similar gain that prompted a price query from the ASX.

Shares in LRV have now more than doubled in April.

 

TODAY’S BIGGEST SMALL CAP LOSERS

(Stocks highlighted in yellow fell after making announcements during the trading day).

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ANNOUNCEMENTS YOU MAY HAVE MISSED

Medicinal cannabis provider Cann Group (ASX:CAN) has announced its executed final documentation to enter into a $15 million working capital facility with National Australia Bank.

The company said the new working capital facility will be used by Cann to support the scale-up of the business and implement the next phase of its long-term growth strategy.

Podiatry and physiotherapy clinic company Healthia (ASX:HLA) has announced the resignation of Anthony Ganter from its board of directors. Ganter was a founding partner of Allsports Physiotherapy and has been an executive director of Healthia since its IPO in 2018.

Chairman Dr Glen Richards said his knowledge and experience in allied health had been of great value to the board. Founding partner in several of the Allsports Clinics Lisa Roach has been appointed as a replacement executive director.

Acrow Formwork and Construction Services (ASX:ACF) has upgraded its earnings guidance for FY22, announcing the company is continuing to benefit from high activity levels in Australia’s commercial construction sector, particularly in civil infrastructure.

FY22 underlying NPAT of $16.3-$17.3 million is now expected, at the mid-pint 93% up on the previous corresponding period (PCP). The strong profit guidance is based on forecast FY22 revenue of $144-$147 million, which at the midpoint is 37% above PCP.

 

TRADING HALTS

New Talisman Gold Mines (ASX:NTL) — strategic plan / funding intentions
Marmota Ltd (ASX:MEU) — Rare earths discovery
Torque Metals (ASX:TOR) — Capital raising
Sihayo Gold (ASX:SIH) — Capital raising
Hexagon Energy Materials (ASX:HXG) — Capital raising
Actinogen Medical (ASX:ACW) — Clinical trials results