Closing Bell: ASX hits cruise control ahead of US inflation data

There were few major catalysts on Thursday, as the ASX traded flat in a relatively cruisy session following some solid gains this week.

Broadly speaking, the ASX has tracked global stock markets higher after a rocky selloff last week that followed indications the US Fed may tighten policy faster than expected.

While there wasn’t much action in the local market, the ASX 200 did edge lower to snap a four-day winning streak.

US stock futures are also lacking direction heading into the Thursday open on Wall Street, with S&P500 futures edging around 0.1% lower at the time of writing.

Heading into the end of the week, all eyes will be on the US inflation print that comes out on Friday night as the next major catalyst for global markets heading into the end of the year.

TODAY’S BIGGEST SMALL CAP WINNERS

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

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Among today’s market movers, 3D printing technology nanocap 333D Limited (ASX:T3D) ticked higher after announcing a new service supply agreement.

T3D advised it’s won a 12-month 3D printing service agreement with Mr Travis Van Zanen aka Giant Swan — a “world recognised Australian virtual reality artist, sculptor and NFT creator”.

“Pursuant to the Agreement, the Company will convert, render, and remediate Giant Swan’s digital assets into 3D print-ready file formats, provide 3D printing protoype services, final product 3D printing services and technical advice relating to 3D printing”, the company said.

Last month, T3D issued shares to van Zanen for his services in connection with the curation of T3D digital library, the company said.

Another mover in Thursday trade was Neuren Pharmaceuticals (ASX:NEU), which is the hottest stock on the ASX this week after announcing positive Phase 3 trials results on Tuesday for trofinetide — its lead drug candidate used in the treatment of Rett Syndrome, a rare neurological disorder.

Another (much smaller) biotech, Living Cell Technologies (ASX:LCT), which is developing new treatments for conditions such as diabetes and Parkinson’s disease. Shares in the company ticked higher after it announced the deadline for its November rights issue — which aims to raise up to $3.807 million before costs — had been extended by another week.

Along with today’s resources winners, a number of ASX tech small caps also ticked higher on market moving announcements. Read more here.

TODAY’S BIGGEST SMALL CAP LOSERS

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

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Among today’s losers WA-based explorer Sipa Resources Limited (ASX:SRI) led the laggards after providing an update on assay results from its Warralong gold project in the northern Pilbara region.

“No significant gold or other metal anomalism observed across the target areas drilled to date, however it is noted that drilling over each area was restricted to a single traverse,” Sipa said.

ANNOUNCEMENTS YOU MAY’VE MISSED

ASIC launched a civil penalty proceeding against ANZ (ASX:ANZ) alleging breaches of Corporations Act clauses against deceptive and misleading conduct in relation to the bank’s Breakfree package. The bank told shareholders it wouldn’t contest the proceedings, would pay $25 million in penalties and says it has enhanced its systems and processes to address these issues.

Evolution Energy (ASX:EV1) says it has begun value engineering studies to improve the economics and reduce the carbon footprint of the Chilalo Graphite project. The company hopes to update shareholders about such enhancements in the second half of 2022.

Australian Ethical (ASX:AEF) has snapped up minority stake in impact investment business Sentient Impact. It will pay $5.2 million and in return acquire a non-executive seat on the Sentient board of directors.

Fintech Douugh (ASX:DOU) unveiled a partnership with insurance provider Lemonade to offer its insurance products to its US customers. It will be live before the years’ end and the company says it will add to its value proposition and help it with its mission of helping customers live financially healthier lives.

Scaffolding & painting company Oldfields (ASX:OLH) was selected as a core supplier of paint tools to the Wattyl stores in Australia and New Zealand. The roll out will begin in Sydney and ultimately cover over 80 stores in Australia and 15 in New Zealand.

Dominos (ASX:DMP) reached the milestone of being the only pizza company in Japan to have stores in all 47 prefectures. This was reached with the opening of a store in the Shimane prefecture – the 862nd store in the country – and the company hopes to have 2000 stores by 2033.

TRADING HALTS

Friday

AVZ Minerals (ASX:AVZ) – capital raising
Middle Island Resources (ASX:MDI) – asset sale
Revolver Resources (ASX:RRR) – exploration results
Vulcan (ASX:VUL) – off take agreement
Aurumin (ASX:AUN) – capital raising and acquisition
Venture Minerals (ASX:VMS) – capital raising
Traffic Technologies (ASX:TTI) – capital raising update

Monday

John Lyng Group (ASX:JLG) – capital raising
Ebos (ASX:EBO) – capital raising
Tennant Minerals (ASX:TMS) – capital raising
South Harz Potash (ASX:SHP) – capital raising
Great Southern Mining (ASX:GSN) – capital raising
Firefinch (ASX:FFX) – capital raising
Irongate (ASX:IAP) – capital raising
Roots (ASX:ROO) – capital raising
Vintage Energy (ASX:VEN) – capital raising