CLOSING BELL: ASX caps off good week as emerging companies index rises 1.27pc

ASX gains 0.78% while the emerging companies index rises 1.27%
Ethereum and bitcoin head higher on back of US court ruling
Amaero selects US over UAE for titanium manufacturing facility

Local markets continued to build on this week’s gains. The S&P ASX 200 benchmark was ~0.4% higher by lunch time, before closing 0.78% higher.

The S&P ASX Emerging Companies index (XEC) – a benchmark for Australia’s micro-cap companies – was also up today, closing 1.27.% higher.

Overnight, the Dow was up 0.1%, the S&P 500 rallied by 0.85%, while the tech-heavy Nasdaq surged 1.85% led by tech stocks.

US microchip stocks gained with Nvidia’s share price reaching record levels, while Amazon also hit a 10-month high after reporting record sales during its Prime Day event.

Info tech was the leading sector on the ASX today. At the end of the day, the ASX’s 11 sectors looked like this:

NOT THE ASX

Michelle Bullock will become the first Reserve Bank of Australia Governor with her appointment announced today following months of speculation about incumbent Philip Lowe’s future.

Bullock, who is the RBA’s deputy governor and was widely tipped to take over the top job, is set to assume leadership in what has been described as a once-in-a-generation overhaul of the central bank.

She faces the additional challenge of overseeing the RBA during a time of intense scrutiny due to 12 interest rate hikes since May 2022 as the bank responded to higher inflation, which have put pressure on households and markets.

Crypto is also making headlines today. Ethereum has experienced a notable surge, climbing 7% and surpassing the $2000 mark for the first time in a month.

The increase has coincided with a broader rally in risk assets and the USD’s decline to a 15-month low against major currencies.

Bitcoin is also benefiting from the positive sentiment, as the leading cryptocurrency saw a 3.8% gain, reaching $31,450.

The rally is largely attributed to a US court ruling involving the crypto company Ripple and the regulatory body, the Securities and Exchange Commission (SEC).

Stockhead’s Gregor Stronach dives into the case in Mooners and Shakers: XRP’s frothing and Gensler’s left fuming by landmark US court decision

ASX SMALL CAP LEADERS

Here are the best performing ASX small cap stocks:

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

Code	Company	Price	%	Volume	Market Cap
1CG	One Click Group Ltd	0.016	78%	77,974,547	$5,526,638
CCE	Carnegie Cln Energy	0.0015	50%	2,254,486	$15,642,574
CCO	The Calmer Co Int	0.003	50%	1,661,847	$1,128,155
YPB	YPB Group Ltd	0.004	33%	1,000,000	$2,230,384
3DA	Amaero International	0.145	32%	928,120	$45,852,973
CUF	Cufe Ltd	0.018	29%	2,265,656	$13,525,573
DMG	Dragon Mountain Gold	0.009	29%	386,210	$2,762,702
ELE	Elmore Ltd	0.009	29%	5,550,247	$9,795,687
EQS	Equity Story Group	0.05	25%	65,000	$1,624,592
NOU	Noumi Limited	0.125	25%	233,132	$27,710,932
RMX	Red Mount Min Ltd	0.005	25%	5,843,805	$9,087,404
DTC	Damstra Holdings	0.135	23%	1,056,399	$28,346,603
MVP	Medical Developments	1.4875	22%	416,885	$104,860,788
GRX	Greenx Metals Ltd	1.07	22%	121,315	$235,553,506
ICI	Icandy Interactive	0.052	21%	2,260,882	$57,714,844
PNM	Pacific Nickel Mines	0.072	20%	63,948	$24,564,960
PAB	Patrys Limited	0.012	20%	3,028,761	$20,572,684
TIG	Tigers Realm Coal	0.006	20%	97,459	$65,333,512
VKA	Viking Mines Ltd	0.012	20%	1,663,998	$10,252,584
VRC	Volt Resources Ltd	0.012	20%	13,633,510	$39,394,239
TMB	Tambourah Metals	0.215	19%	355,314	$7,608,457
COB	Cobalt Blue Ltd	0.465	19%	2,754,452	$144,322,437
MDI	Middle Island Res	0.025	19%	3,617,579	$2,570,783
GWR	GWR Group Ltd	0.096	19%	272,816	$26,018,549
KED	Keypath Education	0.505	17%	13,411	$92,007,585
NEU	Neuren Pharmaceuticals	13.64	17%	1,749,959	$1,473,224,469

Amaero International (ASX:3DA) says ‘financial, operational and strategic advantages’ led the company to select Tennessee in the US over the UAE for its titanium powder manufacturing facility.

3DA has signed a lease to be the sole tenant in 12,100sqm manufacturing facility in Cleveland.

The company said the State of Tennessee acted decisively to coordinate and to commit economic incentives from multiple stakeholders to attract the re-location of its flagship facility, along with 3DA’s research & development and corporate headquarters.

Furthermore the lease payments will be ~75% less than the proposed build-to-suit facility at KEZAD in the UAE. 3AD said as a direct result, it expects to accelerate breakeven operations by 12 months and to reduce working capital needs by $22 million.

ASX SMALL CAP LAGGARDS

Here are the worst performing ASX small cap stocks:

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

Code	Company	Price	%	Volume	Market Cap
CLE	Cyclone Metals	0.0015	-25%	2468463	$20,529,010
DXN	DXN Limited	0.0015	-25%	1500000	$3,442,630
TSL	Titanium Sands Ltd	0.006	-25%	785913	$11,251,183
AWJ	Auric Mining	0.043	-23%	506274	$7,328,137
FFT	Future First Tech	0.007	-22%	8255660	$6,433,529
LSR	Lodestar Minerals	0.004	-20%	1170498	$9,216,987
MRD	Mount Ridley Mines	0.002	-20%	44000	$19,462,207
SRY	Story-I Limited	0.004	-20%	6546690	$1,882,024
WFL	Wellfully Limited	0.004	-20%	1681044	$2,464,721
GMN	Gold Mountain Ltd	0.0105	-19%	33192087	$25,609,124
HAL	Halo Technologies	0.105	-19%	53789	$16,834,378
LYK	Lykosmetalslimited	0.08	-19%	49883	$6,177,600
AN1	Anagenics Limited	0.015	-17%	336776	$6,581,159
1ST	1st Group Ltd	0.005	-17%	6500	$8,501,947
IEC	Intra Energy Corp	0.005	-17%	7105373	$4,234,690
NES	Nelson Resources.	0.005	-17%	96914	$3,681,566
RML	Resolution Minerals	0.005	-17%	78963	$7,543,751
1AG	Alterra Limited	0.011	-15%	6000	$9,055,183
LNU	Linius Tech Limited	0.003	-14%	49252	$13,260,767
RIM	Rimfire Pacific	0.006	-14%	900980	$14,036,713
BCA	Black Canyon Limited	0.16	-14%	100000	$9,567,424
CWX	Carawine Resources	0.13	-13%	16000	$29,522,620
1AD	Adalta Limited	0.026	-13%	5101920	$13,245,789
IBX	Imagion Biosys Ltd	0.02	-13%	56312401	$26,856,313
KZA	Kazia Therapeutics	0.135	-13%	242461	$35,344,513

LAST ORDERS

NSW-focused tin, gold, and copper explorer Sky Metals (ASX:SKY) inked an option to sell its Galwadgere project to pre-IPO explorer Burrendong Minerals (BML).

SKY said divestment of the non-core asset will allow it to continue to focus on resource expansion drilling and mine scoping studies at the Tallebung project and further work at the new Narriah project.

Tietto Minerals (ASX:TIE) founder and former MD Dr Caigen Wang will join the Aldoro Resources (ASX:ARN) board as a non-executive director.

Wang led TIE from ASX listing as an explorer to Africa’s newest gold producer at the 200,000 oz per annum Abujar Gold Mine in Côte D’Ivoire.

“I have known Caigen professionally for many years and have followed his success in taking the Abujar gold project from discovery through to commercial production,” ARN chairman Troy Flannery said.

“Caigen’s professional network in West Africa and Australia is expected to assist Aldoro greatly with its production intentions at both Narndee and Kameelburg.”