The ASX is off to a positive start this week, putting its total gains over the past three weeks up to about 3.6%.

The ASX 200 closed 0.34% higher – at 7,441 points. Spurring today’s gains was energy with a 2.64% gain while resources and utilities both rose over 1%.

However, most other markets in Asia were down and investors will have a lot to ponder over the coming week.

Other things to look out for this week include  inflation data on Wednesday, tomorrow’s listing of GQG (ASX:GQG) – the largest ASX IPO in several years – as well as many companies’ quarterly reports that are due at the end of this week.

 

TODAY’S BIGGEST SMALL CAP WINNERS

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

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Alicanto Minerals (ASX:AQI) rose after identifying a new zone with a world-class zinc and silver intersection from newly acquired historical data at its silver-lead-zinc project in Sweden.

Bio-Gene Technology (ASX:BGT), one of the few stocks in the insecticide targeting trade, climbed after signing a commercial agreement with Evergreen Garden Care.

Digital marketing marketing firm Rewardle (ASX:RXH) announced a new integration into its app.

Buxton Resources (ASX:BUX) rose after telling shareholders it had received interest in buying its Copper Wolf porphyry project in Arizona even though it stopped short of explicitly saying it would sell the project – for now.

And esports developer Playside Studios (ASX:PLY) rose after its quarterly, in which it reported record revenues.

 

TODAY’S BIGGEST SMALL CAP LOSERS

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

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Prominance Energy (ASX:PRM) and Dalaroo Metals (ASX:DAL) both fell after their latest exploration updates.

 

ANNOUNCEMENTS YOU MAY HAVE MISSED

Origin Energy (ASX:ORG) reached a deal to sell a 10% stake in Australia Pacific LNG for $2.12 billion to energy investor EIG. It will retain a 27.5% in the project and will guarantee EIG’s obligations to satisfy future cash calls made by Australia Pacific LNG.

AusNet (ASX:AST) has been granted due diligence to takeover bidder APA. However, the right is non-exclusive – competing bidder Brookfield is conducting due diligence too – and AusNet says there is no certainty that either will follow through with their proposed deal.

Still with takeover target companies, a consortium bidding for Smartgroup (ASX:SIQ) have walked away from discussions. This comes after the consortium cut its price from $10.35 per share to $9.25 per share following due diligence.

Telstra (ASX:TLS) partnered with the Australian government to buy the Digicel business in the South Pacific region for US$1.6 billion up front. $1.33 billion of which will be provided by the Australian government through non-recourse debt facilities and equity like securities but Telstra will own 100% of Digicel’s ordinary equity.

One of the ASX’s few legal stocks, AF Legal Group (ASX:AFL) is now present in every capital city on mainland Australia. It announced the acquisition of 51% of Darwin law firm Withnalls Lawyers, which will result in AF Legal setting up shop in the Northern Territory.

 

TRADING HALTS

Tuesday

Over the Wire Holdings (ASX:OTW) – takeover speculation
Kingston Resources (ASX:KSN) – possible transaction
Identitii (ASX:ID8) – capital raising
Metal Bank (ASX:MBK) – capital raising

Wednesday

Bowen Coking Coal (ASX:BCB) – update on Bluff PCI Mine acquisition
Sparc Technologies (ASX:SPN) – capital raising
Electro Optic Systems (ASX:EOS) – earnings downgrade
Pilbara Minerals (ASX:PLS) – downstream joint venture
Estrella Resources (ASX:ESR) – exploration update
Tesoro Resources (ASX:TSO) – capital raising
Chase Mining (ASX:CML) – capital raising
Impedimed (ASX:IPD) – capital raising

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