While COVID-19 continues to wreck havoc across NSW, the ASX remained in a state of zen on Wednesday, as local stocks eased to new record highs.

The ASX 200 finished around 0.3% higher to close at 7,584, outpaced by the microcap Emerging Companies index was rose by more than 1%.

Metals and mining companies populated most of the small cap winner’s list, as resources and financial stocks both finished higher on the day.

Overnight, the big event will be US inflation numbers for July and how that affects the market’s expectations for monetary policy, after monthly CPI growth climbed steadily throughout the June quarter.

TODAY’S BIGGEST WINNERS

Scroll or swipe to reveal table. Click headings to sort.

Stocks highlighted in yellow rose after making announcements during intraday trade.

Medical company Rhinomed (ASX:RNO) led the pack in early trade and continued climbing, to almost double up following the announcement of a seven-figure government contract.

The stock rocketed after selling a batch of its Rhinoswab collection units to the NSW government as part of its COVID-19 response. Eddy Sunarto has more here.

Elsewhere, European Lithium (ASX:EUR) became the latest lithium play to rally higher, as investors responded to a company presentation where the company detailed its production plans for the Wolfsberg lithium project in Austria.

TODAY’S BIGGEST LOSERS

Scroll or swipe to reveal table. Click headings to sort.

Stocks highlighted in yellow rose after making announcements during intraday trade.


 

ANNOUNCEMENTS YOU MAY’VE MISSED

Aussie Broadband (ASX:ABB) announced a new five-year deal with Telstra Wholesale to provide backhaul capacity between 42 nbn POIs and data centres in the remaining areas not covered by Aussie’s own fibre network. The company says the deal will deliver savings of $1 million in FY22.

Ship building company Austal (ASX:ASB) was awarded a $32.8 million contract to build a high-speed catamaran ferry for the Degage Group of the French Polynesia. It will start work this month in Vietnam and anticipates delivery in the first half of 2023.

Monger Gold (ASX:MMG) signed an agreement with the CSIRO to deliver an Ultrafine Fraction soil project. The company says this brings a greater possibility of success at its Mt Monger tenements, potentially picking up mineralisation which has been previously missed.

Crop protection and specialist seeds company Nufarm (ASX:NUF) had its Nutriterra Total Omega-3 canola oil recognised as a New Dietary Ingredient (NDI) by the FDA. This follows on from human food and fish feed approvals in Australia, New Zealand and Canada.

EQT (ASX:EQT) has revised its offer for IRESS (ASX:IRE) offering $15.91 per share including a 16 cent per share special dividend – up from the initial $14.80 proposal made in mid-June. The company noted the deal was an attractive premium and intended to recommend but for now it has only agreed to grant EQT a 30-day period to undertake due diligence.

Kangaroo Island Plantation Timbers (ASX:KPT) had its development application for a seaport at Smith Bay was declined. However, it announced a new plan for its land on the island to remove the timber plantations and use it for more traditional agricultural use.

TRADING HALTS

Thursday

PARKD (ASX:PKD) – material contract
WAM Leaders (ASX:WLE) – capital raising
Vital Metals (ASX:VML) – acquisition

Friday

Magnum Mining and Exploration (ASX:MGU) – offtake agreement
Duketon Mining (ASX:DKM) – exploration results