The ASX finished Hump Day nearly a third of one per cent higher.

The ASX 200 closed at 7,355 which is 0.31 per cent higher than yesterday while the ASX Emerging Companies Index closed 0.14 per cent higher at 2,193.

It was a mostly positive day across the board with only tech finishing down, which it did by 2.74 per cent. Top sectors included utilities which was up 3.36 per cent followed by consumer staples which gained 0.94 per cent.

The local bourse ran contrary to many markets in Asia as well as Wall Street after a surprise jump in US inflation.

Although Sydney’s lockdown was extended by two weeks, the Westpac consumer sentiment made a sharp turnaround from last month, gaining 1.5 per cent.

 

TODAY’S BIGGEST WINNERS

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Stocks highlighted in yellow rose (or fell) after making announcements during intraday trade.

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Topping the charts was today’s new IPO Balkan Mining (ASX:BMM) which gained 80 per cent. This company is a spin out of Jadar Resources’ (ASX:JDR) Serbian lithium and borate assets.

Coal company Bathurst Resources (ASX:BRL) rose after putting to bed a 4 and a half year legal battle.

Alara Resources (ASX:AUQ) which has a project in Oman told shareholders local regulators approved the grant of additional land around its existing Mining Licence, and permission to construct the processing plant within the licensed area.

 

TODAY’S BIGGEST LOSERS

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While few of today’s major laggards had individual company news one laggard was  Zip Co (ASX:Z1P). The BNPL sector was rocked today with Bloomberg reporting Apple was seeking to enter the space.

 

ANNOUNCEMENTS YOU MAY’VE MISSED

MSL Solutions (ASX:MPW), which has software products for sports businesses, signed Manchester City as a client. The club will install MSL’s software at its two stadiums in a 3 year deal worth at least $273,000 per year.

Bluebet (ASX:BBT) signed a deal to enter Iowa – a so-called “skin agreement” whereby Bluebet would conduct online sports book operations as an extension of the existing casino license. The company sas this license is for at least 5 years and that Iowa’s sports wagering market recorded turnover of US41.2 billion in the last financial year.

Lithium high flier Liontown Resources (ASX:LTR) completed a $52 million capital raising at 76 cents per share. The deal will primarily accelerate development of its Kathleen Valley project but new shareholders would receive an entitlement in the proposed demerger of its Moora and Koojan joint venture assets.

EROAD (ASX:ERD) also unveiled a capital raising, a NZ$64.4m placement and NZ$16.1m share purchase plan to buy fellow fleet management telematics company Coretex. The company says this will accelerate growth in Australia and North America.

One of the few ASX stocks involved in COVID testing, Dotz Nano (ASX:DTZ), unveiled a deal to sell its tests in the UAE, Egypt and Sudan. The company received an initial US$2.1 million purchase order and expects the first shipments next month.

 

TRADING HALTS

Thursday

Castillo Copper (ASX:CCZ) – exploration results
Tian Poh Resources (ASX:TPO) – director appointment
Swift Media (ASX:SW1) – price query

Friday

Whitefield (ASX:WHF) – capital raising
Matsa Resources (ASX:MAT) – capital raising
EROAD (ASX:ERD) – capital raising
Carnavale Resources (ASX:CAV) – drilling results
Los Cerros (ASX:LCL) – capital raising
OceanaGold (ASX:OGC) – Didipio Mine update

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