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Closing Bell: ASX feels the pinch as oil prices drop
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The ASX fell by 0.54% today led by the energy and tech sectors.
Energy stocks were hit by the continuing drop in oil prices while tech stocks were affected by continuing investor concerns over inflation.
Resources and utilities were the best sectors, gaining 0.44% and 0.26% respectively.
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.
| Code | Company | Price | % | Volume |
|---|---|---|---|---|
| E2M | E2 Metals | 0.355 | 48 | 5390749 |
| BTR | Brightstar Resources | 0.063 | 34 | 12374252 |
| IDZ | Indoor Skydive Aust | 0.06 | 33 | 20638088 |
| WC8 | Wildcat Resources | 0.068 | 31 | 16149234 |
| NTL | New Talisman Gold | 0.0025 | 25 | 42716667 |
| DEV | Devex Resources Ltd | 0.68 | 23 | 4604456 |
| REE | Rarex Limited | 0.115 | 21 | 13948581 |
| BRN | Brainchip Ltd | 0.65 | 20 | 39809144 |
| EMD | Emyria Limited | 0.39 | 20 | 5612745 |
| AFW | Applyflow Limited | 0.006 | 20 | 3848655 |
| GLA | Gladiator Resources | 0.031 | 19 | 3707134 |
| SND | Saunders Intl Ltd | 0.93 | 19 | 1425868 |
| AKG | Academies Aus Grp | 0.3 | 18 | 73714 |
| POS | Poseidon Nick Ltd | 0.11 | 17 | 27310604 |
| CNR | Cannon Resources | 0.655 | 17 | 462218 |
| RDT | Red Dirt Metals Ltd | 0.735 | 17 | 3984208 |
| FFT | Future First Tech | 0.044 | 16 | 322247 |
| PSC | Prospect Res Ltd | 0.675 | 15 | 9124607 |
| MNS | Magnis Energy Tech | 0.505 | 15 | 48157094 |
| AOA | Ausmon Resorces | 0.008 | 14 | 4183767 |
| RNX | Renegade Exploration | 0.008 | 14 | 1019443 |
| PF1 | Pathfinder Resources | 0.325 | 14 | 468656 |
| ASQ | Australian Silica | 0.165 | 14 | 1509144 |
E2 Metals (ASX:E2M) climbed off the back of gold and silver assay results at its Conserrat project in Argentina.
Also climbing was Frontier Resources (ASX:FNT) which pegged the Mt Clere project which the company thinks is prospective for rare earth and lithium pegmatites.
In tech, Indoor Skydive Australia (ASX:IDZ) continued its recent rally after announcing the launch of its fourth ‘FREAK’ gaming entertainment centre in Macquarie shopping centre in Sydney.
Emyria (ASX:EMD) rose after welcoming a $5m investment from Tattarang – the private investment group of Andrew Forrest.
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.
| Code | Company | Price | % | Volume |
|---|---|---|---|---|
| ALT | Analytica Limited | 0.001 | -50 | 35517288 |
| NPM | Newpeak Metals | 0.001 | -33 | 7853317 |
| PCL | Pancontinental Energ | 0.001 | -33 | 3103733 |
| MPR | Mpower Group Limited | 0.045 | -27 | 8981986 |
| BAS | Bass Oil Ltd | 0.0015 | -25 | 2000000 |
| CGB | Cann Global Limited | 0.003 | -25 | 19309634 |
| VIC | Victory Mines Ltd | 0.0015 | -25 | 995000 |
| EAX | Energy Action Ltd | 0.22 | -21 | 6740 |
| ICI | Icandy Interactive | 0.145 | -19 | 18132595 |
| SE1 | Sensera Ltd | 0.013 | -19 | 43664488 |
| ICN | Icon Energy Limited | 0.019 | -17 | 953154 |
| OPL | Opyl Limited | 0.12 | -17 | 556611 |
| EN1 | Engage:Bdr Limited | 0.0025 | -17 | 5987141 |
| KEY | KEY Petroleum | 0.0025 | -17 | 75774 |
| MLS | Metals Australia | 0.0025 | -17 | 22420422 |
| BCK | Brockman Mining Ltd | 0.04 | -15 | 272604 |
| AVW | Avira Resources Ltd | 0.006 | -14 | 2235714 |
| GGX | Gas2Grid Limited | 0.003 | -14 | 3533000 |
| DOR | Doriemus PLC | 0.125 | -14 | 158885 |
| LMG | Latrobe Magnesium | 0.095 | -14 | 39231224 |
| FFG | Fatfish Group | 0.065 | -13 | 13033326 |
| IPT | Impact Minerals | 0.013 | -13 | 14260959 |
| PLY | Playside Studios | 0.895 | -13 | 1554615 |
MPower (ASX:MPR) dropped off the back of a capital raising.
Tech stock Sensera (ASX:SE1) fell after unveiling a plan to sell its sole operating business, a move which the company admitted would likely lead to its ASX suspension for some months with entry only possible if and when it found a new business.
ANNOUNCEMENTS YOU MAY’VE MISSED
Healthia (ASX:HLA) was one of a number of stocks to reveal how much it received in JobKeeper subsidies. The pathology services provider received $4.74 million in FY20 and another $10.79 million in FY21.
Brookside Energy (ASX:BRK) told shareholders it received a drilling permit for its Rangers Well. The Rangers Well lies in Oklahoma’s Anadarko Basin and possesses a total measured depth of ~17,750 feet and an average true vertical depth of ~9,300 feet.
Saferoads (ASX:SRH) meanwhile said it experienced adverse trading conditions due to COVID-19 lockdowns. It expects operating earnings between $400,000 and $500,000 and a pre-tax loss between $200,000 and $300,000.
Arcadia Minerals (ASX:AM7) announced plans to dually list on the Frankfurt Stock Exchange. The company says the move will increase its investor reach and increase exposure to European markets.
Shareholders of Nuix (ASX:NXL) have formally filed a class action against the company in the Supreme Court of Australia. The company and its lawyers, Shine Justice, allege the company’s prospectus and financial forecasts may have misrepresented or omitted financial information and potential risks.
TRADING HALTS
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
Wednesday
MinRex Resources (ASX:MRR) – acquisition
Sovereign Cloud Holdings (ASX:SOV) – capital raising
Jameson Resources (ASX:JAL) – capital raising
Magnetic Resources (ASX:MAU) – capital raising
Delorean (ASX:DEL) – material contract tender
Horizon Minerals (ASX:HRZ) – transaction of Richmond Vanadium stake
