After a positive start the ASX finished down over 0.5%.

Today, APRA ordered the big banks to increase the home loan “serviceability buffer” from 2.5% to 3% from the end of October and hinted more regulation could be forthcoming.

Also hitting the sector was New Zealand’s Reserve Bank becoming the second in the world to lift interest rates post-COVID 19. While Australia’s RBA doesn’t expect to lift rates until 2024 it has hinted it could come earlier if inflation exceeds expectations.

Financials fell by nearly 1% making it one of the biggest laggards on the ASX. After being hit for much of the past week, tech was actually one sector that gained today (by 0.46%), along with energy.

 

TODAY’S BIGGEST SMALL CAP WINNERS

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

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Lodestar (ASX:LSR)  announced a drilling campaign would be getting underway in the next fortnight at its Ned’s Creek project.

Xref (ASX:XF1) rose after its quarterly cash report in which it revealed 126% sales growth.

Great Western Exploration (ASX:GTE) identified four high priority drill targets at its Yandal West project.

 

TODAY’S BIGGEST SMALL CAP LOSERS

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

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ANNOUNCEMENTS YOU MAY’VE MISSED

A2 Milk (ASX:A2M) pledged to fight a lawsuit against the company by shareholders alleging breaches of disclosure rules. The company said it was confident it had complied and was confident in the underlying fundamentals of the business and growth potential.

New Zealand headquartered medtech Aroa Biosurgery (ASX:ARX) told shareholders it delivered NZ$17 million in sales in the last 6 months. This figure is 108% up from the prior corresponding period.

EMVision (ASX:EMV) – a company developing a brainscanner to detect stroke – was told by the FDA it needed further clinical study data to receive Breakthrough Device Designation. The company said it expected to pursue the designation once such data was available but its pathway was unchanged.

Endeavour Group (ASX:EDV) boss and pub baron Bruce Mathieson told the company he would be stepping down from the role of managing director at the end of the year. The board said Mathieson, who is 63rd on the Top 200 rich list, was stepping down to pursue “other interests”.

Uranium play Boss Energy (ASX:BOE) says the recent surge in spot prices took its inventory to US$51.56 million ($71.52 million), representing a book profit of $21.83 million. The company also revealed it received three requests for tender proposals from three countries with nuclear energy in recent weeks.

Smartwatch maker Spacetalk (ASX:SPA) signed a deal with Elisa – Finland’s largest telco – to sell its smartwatch across its Finland retail stores and online channel. The launch is planned for next month and Elisa has over 2.8 million customers.

Gym operator Viva Leisure (ASX:VVA) said lockdowns hit its revenues in August by 53%. However its membership numbers were 289,266, representing 97% retention, and expected its gyms in NSW and the ACT would re-open in October while its Victorian assets would re-open in early November.

Telco Swoop (ASX:SWP) unveiled its latest acquisition – Newcastle-based connectivity provider Countrytell. This transaction will cost $4.2 million to be split evenly between cash and Swoop shares.

 

TRADING HALTS

Thursday

Aura Energy (ASX:AEE) – financing agreement
Wide Open Agriculture (ASX:WOA) – distribution agreement
Pure Foods Tasmania (ASX:PFT) – capital raising
Titan Minerals (ASX:TTM) – exploration update
Navarre Minerals (ASX:NML) – capital raising
QMines (ASX:QML) – exploration results
Kalium Lakes (ASX:KLL) – commissioning activities
Security Matters (ASX:SMX) – capital raising

Friday 

Lumos Diagnostics (ASX:LDX) – announcement clarification
Structural Monitoring Systems (ASX:SMN) – capital raising
Metal Hawk (ASX:MHK) – capital raising
Regal Investment Fund (ASX:RF1) – capital raising

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