Closing Bell: ASX closes the week with a gain and a successful billion dollar float

The ASX finished the day in the green and Ventia Service (ASX:VNT) defied the pattern of $1b+ floats underperforming by gaining 22% on its opening day.

Also listing today was Cooper Metals (ASX:CPM) and it had a gain too, rising 10% today.

The ASX 200 closed at 7,397 which was 0.23 higher than yesterday but 0.62% lower than last Friday. The best sectors were resources, consumer staples and healthcare while telcos and industrials were the worst sectors.

TODAY’S BIGGEST SMALL CAP WINNERS

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

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eMetals (ASX:EMT) rose after announcing it was buying the Salmon Gum rare earths project.

QuickFee (ASX:QFE) announced it obtained a new debt funding facility as well as the rights to the Jim’s Pay Plan franchise – a BNPL product for people utilising home services.

X2M Connect (ASX:X2M) surged after winning a remote water monitoring tender in South Korea worth $2.6 million.

TODAY’S BIGGEST SMALL CAP LOSERS

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

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My Food Bag (ASX:MFB), a New Zealand competitor to meal kit deliverer Marley Spoon, fell after its interim half yearly results.

ANNOUNCEMENTS YOU MAY’VE MISSED

Realtor stock McGrath (ASX:MEA) is tipping earnings to be between $10 and $11 million for the first half of FY22. This would represent a 60% jump compared with the prior corresponding period although its profit would likely be hit by one-off abnormal items.

Sydney Airport (ASX:SYD) says provisional data has shown the international border opening hasn’t had a major impact on its passenger numbers yet. It indicated traffic was down 95% for the first 15 days of November compared to the corresponding period in 2019 although domestic traffic was “only” down 87% thanks to the re-opening of the NSW-Victoria border.

Dalrymple Bay Infrastructure (ASX:DBI) told shareholders the Queensland Competition Authority published its final determination in relation to a pricing ruling for the expansion of 8X. The company said it welcomed the ruling and it looked forward to soon updating shareholders on its FEL3 feasibility study.

Uranium play Energy Resources Australia (ASX:ERA) told shareholders it had identified significant cost and schedule over runs for its Ranger rehabilitation project. The company will look for an engineering firm to finalise a formal re-forecast but this process would continue into the March quarter of next year.

United Ultima (ASX:UUL), a property stock that has risen by ~40 times in 2 years, revealed its latest purchase in Northbridge, Perth. It proposes to build a multistorey mixed-use residential development. It will pay $2.9 million in a deal that will be settled on February 16.

TRADING HALTS

Monday

Element 25 (ASX:E25) – operational update
Advanced Human Imaging (ASX:AHI) – NASDAQ listing update
Consolidated Zinc (ASX:CZL) – capital raising
Tietto Minerals (ASX:TIE) – capital raising
Poseidon Nickel (ASX:POS) – drilling results
RareX (ASX:REE) – exploration results
Arizona Lithium (ASX:AZL) – metallurgical test work
iCandy (ASX:ICI) – capital raising
ECS Botanics (ASX:ECS) – supply and tolling agreement

Tuesday

Nova Minerals (ASX:NVA) – Snow Lake Resources IPO update
Red River Resources (ASX:RVR) – judgement in TCM royalty dispute
Beam Communications (ASX:BCC) – capital raising
Emyria (ASX:EMD) – capital raising
Schrole Group (ASX:SCL) – capital raising
Buru Energy (ASX:BRU) – results of wireline log evaluation
Tamboran Resources (ASX:TBN) – capital raising