Closing Bell: ASX closes higher, despite continued slide in tech and BNPL sectors
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The ASX closed today higher, no thanks to tech.
There were two sectors that gained over 1% – energy and resources – and financials and utilities also had good days gaining 0.78% and 0.84%.
But tech fell 3.7%, continuing to suffer from inflation fears, while the BNPL sector had the double whammy of a US inquiry into the industry.
The terms of the inquiry run by the US Consumer Financial Protection Bureau only specifically named five companies and only two of those were on the ASX – Afterpay (ASX:APT) and Zip Co (ASX:Z1P) but the whole sector sold off.
TODAY’S BIGGEST SMALL CAP WINNERS
(Stocks highlighted in yellow rose after making announcements during the trading day).
Scroll or swipe to reveal table. Click headings to sort.
| Code | Company | Price | % | Volume |
|---|---|---|---|---|
| CNB | Carnaby Resource Ltd | 0.45 | 55 | 14015953 |
| BAS | Bass Oil Ltd | 0.002 | 33 | 3497051 |
| JAV | Javelin Minerals Ltd | 0.002 | 33 | 6250000 |
| NTL | New Talisman Gold | 0.002 | 33 | 762983 |
| WOO | Wooboard Tech Ltd | 0.002 | 33 | 409276 |
| AKP | Audio Pixels Ltd | 24.2 | 27 | 48278 |
| QGL | Quantum Graphite | 0.15 | 25 | 81547 |
| ALK | Alkane Resources Ltd | 0.96 | 23 | 8746773 |
| DCX | Discovex Res Ltd | 0.0055 | 22 | 22154910 |
| W2V | Way2Vatltd | 0.17 | 21 | 185900 |
| CCE | Carnegie Cln Energy | 0.003 | 20 | 2576323 |
| AIR | Astivita Ltd | 0.775 | 19 | 199 |
| PRX | Prodigy Gold NL | 0.039 | 18 | 721207 |
| CXX | Cradle Resources Ltd | 0.047 | 18 | 88025 |
| BNO | Bionomics Limited | 0.135 | 17 | 1377080 |
| WC1 | Westcobarmetals | 0.14 | 17 | 175000 |
| TYX | Tyranna Res Ltd | 0.007 | 17 | 300000 |
| WWI | West Wits Mining Ltd | 0.038 | 15 | 10143326 |
| GMR | Golden Rim Resources | 0.115 | 15 | 1001946 |
| CT1 | Constellation Tech | 0.008 | 14 | 395034 |
| RNX | Renegade Exploration | 0.008 | 14 | 2000000 |
| SE1 | Sensera Ltd | 0.016 | 14 | 5377105 |
| SIH | Sihayo Gold Limited | 0.008 | 14 | 37347 |
Enigmatic tech stock Audio Pixels (ASX:AKP) rose after signing a fabrication deal with a Chinese semiconductor company.
In resources, Carnaby Resources (ASX:CNB) up 36% reported a “spectacular” copper discovery from its Greater Duchess Copper Gold Project in northwestern Queensland.
Energy minnow Bass Oil (ASX:BAS), rose too off the back of its monthly production update from its Indonesian assets. Although production was slightly below October production levels, but Bass still netted November sales of 11,157 barrels of oil JV share or 6,136 barrels net.
TODAY’S BIGGEST SMALL CAP LOSERS
(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 |
|---|---|---|---|---|
| NPM | Newpeak Metals | 0.001 | -33 | 1300000 |
| MLS | Metals Australia | 0.0015 | -25 | 466666 |
| TML | Timah Resources Ltd | 0.075 | -23 | 40000 |
| YPB | YPB Group Ltd | 0.002 | -20 | 7387087 |
| AJM | Altura Mining Ltd | 0.01 | -17 | 58854731 |
| GGX | Gas2Grid Limited | 0.0025 | -17 | 500000 |
| MEB | Medibio Limited | 0.005 | -17 | 1316000 |
| OAK | Oakridge | 0.2 | -15 | 5883 |
| LCK | Leigh Crk Energy Ltd | 0.15 | -14 | 16553895 |
| BAT | Battery Minerals Ltd | 0.012 | -14 | 16708412 |
| GTE | Great Western Exp. | 0.12 | -14 | 222987 |
| HCD | Hydrocarbon Dynamic | 0.012 | -14 | 1027420 |
| JNO | Juno | 0.12 | -14 | 1664459 |
| RHT | Resonance Health | 0.1 | -13 | 260412 |
| DUB | Dubber Corp Ltd | 2.71 | -13 | 4981202 |
| GML | Gateway Mining | 0.014 | -13 | 7341851 |
| ROG | Red Sky Energy. | 0.007 | -13 | 11146713 |
| REZ | Resourc & En Grp Ltd | 0.051 | -12 | 138915 |
| REM | Remsensetechnologies | 0.44 | -12 | 247192 |
| IPG | Ipd Group | 1.06 | -12 | 1806518 |
| LLO | Lion One Metals Ltd | 1.2 | -11 | 7600 |
| HTG | Harvest Tech Grp Ltd | 0.195 | -11 | 1487195 |
It wasn’t a happy debut for utilities services provider IPD Group (ASX:IPD), which dropped over 10% as it began trading.
A handful of other stocks fell due to capital raisings, led by Leigh Creek Energy (ASX:LCK).
ANNOUNCEMENTS YOU MAY’VE MISSED
Palla Pharma (ASX:PAL) has been put into voluntary administration and its shares will be suspended. Despite being solvent for now, the board called the administrators believing the company was likely to hit the skids in light of the impact the omicron variant was having on elective surgeries.
EML Payments (ASX:EML) pledged to fight a lawsuit bought by Shine Lawyers. The suit alleges it failed to disclose the correspondence from the Irish central bank, raising concern about its AML/CTF risk and control frameworks, in a timely manner.
The ASX’s newest telco Swoop (ASX:SWP) upgraded its guidance to reflect the impact of recent acquisitions. FY22 revenue is now expected to be between $50 million and $53 million while earnings will be between $12 million and $12.5 million.
The merger between Santos (ASX:STO) and Oil Search (ASX:OSH) was formally implemented today with Santos acquiring 100% of the capital of Oil Search.
Transurban (ASX:TCL) reached a deal with the Victorian government for the delivery of the West Gate Tunnel Project. The completion dat is now late 2025 and the total cost is up by $3.4 million, which will be funded 50-50 by the government and Transurban.
TRADING HALTS
Monday
Magnis Energy Technologies (ASX:MNS) – off-take agreement
Bounty Oil & Gas (ASX:BUY) – PEP-11 update
Bionomics (ASX:BNO) – US IPO update
Emyria (ASX:EMD) – technology partnership
Matsa Resources (ASX:MAT) – divestment
IGO (ASX:IGO) – acquisition
Esports Mogul (ASX:ESH) – capital raising
Greenland Minerals (ASX:GGG) – outcome of Greenland government meeting
Mayur Resources (ASX:MRL) – capital raising
Future First Technologies (ASX:FFT) – capital raising
Magellan (ASX:MFG) – contract loss
Tuesday
Mamba Exploration (ASX:M24) – drilling update
Coda Minerals (ASX:COD) – Mineral Resource Estimate
Torrens Mining (ASX:TRN) – Mineral Resource Estimate
Pantera Minerals (ASX:PFE) – asset acquisition
Sacgasco (ASX:SGC) – asset disposal and farm out agreement
