• ASX 200 pulls up lame after a solid early morning run
  • Energy and Materials limp like beaten favourites back to the dog house
  • Oceana Lithium becomes a bookie’s bestie, rocketing up the charts on debut

 

It all looked so promising this morning, as the ASX 200 leapt from the starting gates with more spring in its step than an African antelope. Sadly, the collective mid-morning coffee failed to kick in and the whole thing sagged like the wrong end of a ram throughout the afternoon.

For a broad view of how the whole week went, Captain Chedward is once again in the Stockhead NewsCopter, blaring Ride of the Valkyries while screaming market jargon into a microphone. You can catch all the Weekly Wrap action here.

Sector wise, it was groovier than an old-skool LP record in most regards, with Industrials (1.80%), Utilities (+1.64) and Real Estate (1.5%) pumping up the jams to get our bodies moving.

However Energy was decidedly Low-NRG (-2.59%) and the Materials girls shed percentage points like Madonna sheds her clothes, (-1.22%).

(Yes, it was a laboured metaphor, but we got there in the end, and that’s what counts).

Top of the Pops for the day was the performance of New Kids on the Lithium Block, Oceana Lithium (ASX:OCN).

The company’s oversubscribed IPO and market-watchers’ unrelenting need for mood-stabilising lithium drugs saw its price jump to $0.30, a 50% gain and a solid debut.

Lithium’s on the lips of everyone with their nose in the spodumene trough, and you can read even more about it here, with thanks to our very own super-journo Emma Davies.

Iron minnow CuFe (ASX:CUF) also had a belter today, despite no real news emerging from the front office. It was up close to 40% on a solid dollar amount of trade.

CuFe responded this afternoon to a “Yo, wassup?” from the ASX, with a reassuring “We cool, man… we cool” after the jump raised a few eyebrows around town.

$177,000-plus- change worth of volume is nothing to sneeze at with shares at a Lilliputian $0.007 apiece, and we suspect that even super-spy James Bond would be getting in at that price.

There weren’t many of the big kids sharing high-fives or nursing wedgies this afternoon – but what we can tell you is that everything with the word Betashares written on it has tanked harder than SeaWorld’s Orca enclosure, with the worst of the bunch plunging more than 19.0%.

It’s all down in the Betashares world by at least 5 points – which, rather spookily, is the same freakishly small point size they’ve used for the fonts in their ASX announcements, much to the annoyance of absolutely everybody everywhere. #NoCoincidences. #IlluminatiConfirmed.

Yancoal (ASX:YAL) upset the apple cart by announcing plans for an $801m debt prepayment by the end of the month, down 4.6% and Liontown (ASX:LTR) took another kicking, losing 3.32% despite getting inventors on the phone yesterday for a quick chat about how things are traveling.

 

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.

 

A two-banger news day from EBR Systems (ASX:EBR) shovelled a 44% gain into shareholder’s packets, after the company announced the successful 158-patient trial of its wireless heart control gadgets.

If that wasn’t enough, EBR also let slip that it’s snagged a $50m growth capital facility, but despite that good news, its price settled a little after lunch, to finish with a heart-stealingly handsome 36% gain.

GWR Group Ltd (ASX:GWR) had a corker as well, climbing like King Kong up the Chrysler Building before it requested a trading halt at 1:41pm in response to a speeding ticket from the ASX, when it blasted through the speed camera doing 33% in a school zone.

Among those licking their wounds at lunchtime was Antipodes Global Shares (ASX:AGX1), headed for its namesake at the far end of the globe after its price plunged nearly 17.0%, and Pinnacle Minerals (ASX:PIM) fell sharply, down 14.0% on very thin trade.

 

TODAY’S BIGGEST SMALL CAP LOSERS

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

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

 

ANNOUNCEMENTS YOU MAY’VE MISSED

Australian Agricultural Projects Limited (ASX:AAP) says that the year’s harvest figures are in, and things are looking oilier than a Turkish wrestling bout. In simple terms, there’s 564,500 litres of olive oil on the market, a great result for a low year in the two-year / high-low yield cycle. Against 2020 results, it’s more than 320,000 litres more, which AAP says is down to a forward-looking replanting program initiated in 2018.

Sports Entertainment Group Limited (SEG) says the purchase of the 4KQ 693AM Brisbane Commercial Radio Licence has been completed. The people of Brisbane can now look forward to hearing about all their favourite sports, sounding like it’s being shouted at them from the bottom of a tin can. How good’s AM radio!?

And lastly McPhersons (ASX:MCP) has announced the completion of a “unique strategic alliance” with Chemist Warehouse, after it sent Australia’s Cheapest Chemists™ 14,223,817 fully paid ordinary shares in MCP at a value of $0.88 each. No word yet on exactly how much those will end up being discounted once they hit stores across the country, or whether Chemist Warehouse will offer its “We’ll match any competitor’s price” promotion.

 

TRADING HALTS

NeuRizer Ltd (ASX:NRZ) – NeuRizer has an offtake agreement in the works.

Stavely Minerals Limited (ASX:SVY) – Guess who’s raising capital today?

GWR Group Ltd (ASX:GWR) – GWR has hit pause because there’s news behind an ASX Query Letter.

Invictus Energy Ltd (ASX:IVZ) – Something’s about to happen at the company’s prospective resource.

BBX Minerals Limited (ASX:BBX) – Assay results are on the way, and BBX wants to raise some capital as well.