Local markets continued their strong form on Wednesday as the ASX rose for the third straight session.

Reporting season threw up some big-name winners as markets responded to the latest round of full-year results.

While the ASX 200 edged higher on the day, smaller companies stayed hot as the microcap ASX Emerging Companies index posted its third straight gain of at least 1%.

TODAY’S BIGGEST WINNERS

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Among stocks with news, software company Bigtincan Holdings (ASX:BTH) rose by more than 20% after completing a $79.4m placement and institutional entitlement offer, that was first announced at the start of this week.

The fund raising is in connection with BTH’s strategic US$86m acquisition of Brainshark Inc, a US sales coaching platform that was launched in 1999.

Tech large cap Wisetech Global (ASX:WTC), which prior to the COVID-19 pandemic came under repeated pressure from short sellers, also rose strongly following its full-year results where it reported strong growth from its CargoWise logistics software platform.

In resources, battery metals play Renascor Resources (ASX:RNU) was the day’s best performer, after signing a non-binding Memorandum of Understanding with South Korean giant POSCO, which will facilitate the purchase by POSCO of 20,000 to 30,000tpa of Purified Spherical Graphite (PSG), from Renascor’s planned battery anode material operation in South Australia.

Regtech platform Identitii Ltd (ASX:ID8) also rose sharply, after announcing that it recently filed additional claims in connection with a US patent application that it was granted earlier this year.

TODAY’S BIGGEST LOSERS

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Wealth management software platform Bravura (ASX:BVS) led the reporting season laggards after reporting annual declines in revenue, EBITDA and net profits.

The result reflected the “unprecedented impact of COVID-19, particularly on UK project work and the sales pipeline”, BVS said.

BVS also announced that 13-year CEO Tony Klim will step down, to be replaced by Nick Parsons from September 3.

ANNOUNCEMENTS YOU MAY’VE MISSED

Hastings Technology Metals (ASX:HAS) has mobilised personnel and equipment to the site of its Yangibana Rare Earths project. The company is starting works in infrastructure including an air strip and accomodation village and says it will be ready to house workers early next year.

Life insurance provider NobleOak (ASX:NOL) announced it had completed the acquisition of administration rights to Auto & General Services for a run off portfolio of Budget Direct and OZicare branded products. NobleOak paid $3.2 million, entirely in shares, and expects to begin distribution early next year.

One of the companies releasing its results later in the day was mining services company MLG (ASX:MLG). It made revenue of $254 million and a profit of $12.5 million, both of which were inline with its forecast at the time of its IPO earlier this year.

Medlab (ASX:MDC) was given approval to start a Phase III trial on its NannaBis formulation in Australia. The trial will target bone cancer pain and take place across the UK and USA as well.

Clearview (ASX:CVW) sealed a deal to sell its financial advice business to Centrepoint Alliance (ASX:CAF). The company will net $15.2 million from the sale most of which will be in the form of Centrepoint shares.

TRADING HALTS

Thursday

Bass Oil (ASX:BAS) – capital raising
Tempest Minerals (ASX:TEM) – capital raising
Alice Queen (ASX:AQX) – capital raising

Friday:

Viva Leisure (ASX:VVA) – capital raising

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