Local stocks finished in the red on Wednesday, following a negative lead from Wall Street after the S&P500 dipped by almost 2%.

Following a sharp selloff in the morning, the ASX 200 clawed back some ground to finish 0.28% lower.

The microcap Emerging Companies index fared slightly worse, with a 0.66% fall.

Global markets went through a round of jitters on Tuesday night, as lingering fears about the latest COVID-19 variant — Omnicron — continue to cast doubts on the strength of the reopening trade.

On US markets, newly reappointed Fed chair Jerome Powell then gave equity investors another fright by indicating the US central bank may start tapering bond purchases faster than previously expected, as post-COVID inflation growth proves stickier than anticipiated.

But a short time ago, US S&P500 futures were almost 1% higher, pointing to a possible rebound tonight following Tuesday’s selloff.

TODAY’S BIGGEST SMALL CAP WINNERS

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

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Small cap gains were led today by $31.5m data software company Tymlez Group (ASX:TYM), which ripped higher by more than 40% on no news.

Another big gainer on no news was CAQ Holdings (ASX:CAQ), which rose by 31%. The company’s website says its operational focus is the Haikou Project — the only shopping centre constructed in a Chinese free trade zone near the Macun Port on Hainan Island.

Among stocks with news, leading the pack was Winsome Resources (ASX:WR1), which debuted on the ASX yesterday and today released an investor presentation where it detailed development plans for three hard-rock lithium assets in the James Bay region of Quebec, Canada.

Another leader with news was Babylon Pump & Power (ASX:BPP), which ticked higher to 1.4c on some new deal flow.

The company announced a contract to carry out an engine overhaul for 44 engines operated by WA-based private company Premier Coal. BPP estimated the total value of the contract, if an additional one-year extension is taken up, to be in the vicinity of $16m.

 

TODAY’S BIGGEST SMALL CAP LOSERS

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

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ANNOUNCEMENTS YOU MAY’VE MISSED

The takeover of Dental group 1300 Smiles (ASX:ONT) took place today and the company is expected to be removed from the list shortly. Following the takeover, there will be only two dental stocks left on the ASX, in franchisor Pacific Smiles (ASX:PSQ) along with dental equipment maker SDI (ASX:SDI).

Recently listed biotech Clarity Pharmaceuticals (ASX:CU6) announced it had reached the 50% patient recruitment milestone for its prostate cancer clinical trial. The company is one of the few companies in the radiopharmaceuticals space, looking to see if this emerging area can help fight cancer.

The Commonwealth Bank (ASX:CBA) completed the sale of its 55% interest in Colonial First State to KKR. The deal will deliver an uplift of $1.47 billion to its Common Equity Tier 1 capital.

Liontown Resources (ASX:LTR) is completing a massive capital raising – this time $450 million at $1.65 a pop in a fully underwritten placement. The company says the deal will provide it with flexibility around debt and off take discussions for its Kathleen Valley Lithium project.

Just a day after Rhythm Bioscience (ASX:RHY) announced its ColoSTAT blood test won CE Mark approval it announced chairman Otto Buttula would get a pay rise from $84,000 a year to $150,000 a year. His job title has changed from Non-executive chairman to executive chairman and CEO Glenn Gilbert was appointed to the board as managing director.

TRADING HALTS

Thursday

IOUpay (ASX:IOU) – acquisition completion
Creso Pharma (ASX:CPH) – material license upgrade
Celsius Resources (ASX:CLA) – scoping study update
MGC Pharmaceuticals (ASX:MXC) – capital raising
Altech Chemicals (ASX:ATC) – capital raising

Friday

Jadar Resources (ASX:JDR) – strategic partnership
Critical Resources (ASX:CRR) – drilling program
Liontown Resources (ASX:LTR) – capital raising
Celamin Holdings (ASX:CNL) – capital raising
Benz Mining (ASX:BNZ) – exploration results
Emerge Gaming (ASX:EM1) – clarifying announcement
Aston Minerals (ASX:ASO) – exploration results
Cooper Energy (ASX:COE) – media article clarification