Local stocks hit cruise control heading into the Easter break, with steady gains across the ASX in a calm session.

The microcap ASX Emerging Companies index rose by around 0.8%, slightly outperforming the big end of town.

It followed a solid session for US stocks overnight, as the selloff in global bond yields took a breather (for now).

Aussie jobs data today showed another 18,000 jobs added in March, slightly below the forecast gain of 30,000 which kept the unemployment rate holding at 4%.

Looking ahead, the punters reckon more inflation is coming, as the Melbourne Institute’s inflation expectations index rose to 5.2% in April — up from a 10-year high of 4.9% in March.

April 27 looms as the key date for Aussie interest rate watchers, with March quarter headline inflation expected to climb to 4.3%, according to CBA.

Most analysts reckon that will be the catalyst for Australia’s central bank to announce June rate hikes.

CBA economist Gareth Aird said the May meeting is still “live” for a rate hike, but “we continue to see June as the most likely month for the RBA to commence their tightening cycle”, he added.

After the Easter break, global markets will be focused on March quarter US earnings season next week, with big-name companies including Tesla (Wednesday) set to announce their latest results.



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

Scroll or swipe to reveal table. Click headings to sort.

Code Description Price % Volume
MEG Megado 0.195 77.3% 12,249,250
ANW Aus Tin Mining 0.0015 50.0% 3,773,653
VPR Volt Power Group 0.003 50.0% 1,879,577
CZR CZR Resources Ltd 0.016 45.5% 107,283,122
LDR Lode Resources 0.24 41.2% 6,033,908
NYM Narryer Metals 0.28 40.0% 2,781,504
ELE Elmore Ltd 0.045 36.4% 94,972,794
GGX Gas2Grid Limited 0.004 33.3% 38,969,531
MCM Mc Mining Ltd 0.165 32.0% 366,617
AHN Athena Resources 0.009 28.6% 1,521,747
ARE Argonaut Resources 0.005 25.0% 110,000
KNI Kuniko 1.41 23.7% 1,033,436
EM1 Emerge Gaming Ltd 0.021 23.5% 9,340,598
ITM Itech Minerals Ltd 0.5 23.5% 2,464,716
BMO Bastion Minerals 0.18 20.0% 176,669
IND Industrialminerals 0.24 20.0% 303,427
IBG Ironbark Zinc Ltd 0.05 19.0% 8,686,665
AHK Ark Mines Limited 0.45 18.4% 468,420
MGT Magnetite Mines 0.04 17.6% 60,571,786
SRN Surefire Rescs NL 0.02 17.6% 49,621,201
LM8 Lunnon Metals 1.22 17.3% 1,205,589
PG1 Pearl Global Ltd 0.017 17.2% 1,125,567
DTR Dateline Resources 0.14 16.7% 911,811
MM1 Midasmineralsltd 0.35 16.7% 606,777
AO1 Assetowl Limited 0.0035 16.7% 13,452,999
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Today’s resources winners held their gains and then some, in another profitable session for junior mining stocks.

Investors rewarded Megado (ASX:MEG) for a pivot to the US rare earths sector, after it flagged the strategic acquisition of Felix Strategic Minerals.

Felix holds the contractual rights to the ‘North Fork’ rare earth project in the mining-friendly Idaho Cobalt Belt region of Idaho, US.

Megado will raise $2.4m to fund exploration at the site, which complements its existing portfolio of gold projects in Ethiopia that the company listed with last October. Shares in the company surged by 77%.

Elsewhere, the mere mention of drilling by resources meme stock Kuniko (ASX:KNI) was enough to whet the investor appetite.

Kuniko will kick off maiden diamond drilling on May 2 at three cobalt-copper sites in Norway, where it aims to advance the Skuterud project, a net zero-carbon cobalt operation.

And while the IPO markets has slowed from last year’s frenetic pace, SA and WA-based battery metals explorer Narryer Metals (ASX:NYM) had a strong debut after raising $5m from investors at 20c.

Outside of resources, esports platform Emerge Gaming (ASX:EM1) posted a ~30% gain on no news.

The spike comes three days after EM1’s latest news, where the company said its MTN Arena platform had surpassed 1 million new subscribers since launch in July 2020.



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

Scroll or swipe to reveal table. Click headings to sort.

Code Company Price % Volume
PHL Propell Holdings Ltd 0.06 -21.1% 1,088,346
OSL Oncosil Medical 0.058 -20.5% 21,782,908
ESK Etherstack PLC 0.335 -20.2% 111,191
AFW Applyflow Limited 0.002 -20.0% 11,000,000
OEX Oilex Ltd 0.004 -20.0% 9,535,699
UUL Ultima Utd Ltd 0.12 -17.2% 405,583
AMS Atomos 0.7475 -16.9% 19,216,651
X2M X2M Connect Limited 0.125 -16.7% 11,607
LGM Legacy Minerals 0.16 -13.5% 143,841
BEX Bikeexchange Ltd 0.051 -12.8% 335,328
AQX Alice Queen Ltd 0.007 -12.5% 6,378,084
1AG Alterra Limited 0.022 -12.0% 313,147
AYT Austin Metals Ltd 0.022 -12.0% 6,181,657
EMT Emetals Limited 0.015 -11.8% 889,843
MMC Mitremining 0.19 -11.6% 157,286
TSC Twenty Seven Co. Ltd 0.004 -11.1% 104,999
ERM Emmerson Resources 0.125 -10.7% 4,758,537
EYE Nova EYE Medical Ltd 0.255 -10.5% 16,737
IS3 I Synergy Group Ltd 0.088 -10.2% 722,293
ALY Alchemy Resource Ltd 0.018 -10.0% 5,549,175
SW1 Swift Networks Group 0.018 -10.0% 253,043
AAJ Aruma Resources Ltd 0.14 -9.7% 2,601,842
FRM Farm Pride Foods 0.14 -9.7% 109,178
IXR Ionic Rare Earths 0.077 -9.4% 68,782,849
RCW Rightcrowd 0.145 -9.4% 9,840
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Shortly after 12:30pm EST, oil & gas player 88 Energy (ASX:88E) released its quarterly activity statement and trading update.

The company provided a detailed operating of its five exploration projects — four in Alaska and one in Texas.

88E closed out the March quarter with just over $32m in the bank, and shares in the company rose by around 6% in afternoon trade to 1.6c.



SSH Group (ASX:SSH) — Material acquisition

AuKing Mining (ASX:AKN) — Capital raising

Grand Gulf Energy (ASX:GGE) — Capital raising