Today’s investing mood in what’s shaping up as a brutal conflict in Eastern Europe: Risk-on.

Things can turn on a dime when geopolitics is the main driver, but for now a barnstorming rally on US markets overnight flowed through to positive ASX sentiment in Friday trade.

Large caps closed flat, while the winning trade was in higher-risk microcaps as the composite Emerging Companies index jumped by almost 3%, after copping a -4.1% hiding on Thursday.

Money came flooding back into tech stocks, which have significantly underperformed the market so far in 2022.

As Russian forces try and take control of the Ukraine capital Kyiv, US stock futures suggest Wall Street may struggle to extend its gains tonight — a short time ago pointing around 0.5% lower.

Oil and gold were little-changed on Friday in Asia, trading at ~US$97/barrel and US$1,910/oz 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
JAV Javelin Minerals Ltd 0.002 100.0% 4,833,098
ANL Amani Gold Ltd 0.002 33.3% 33,724,665
SQ2 Block 153.5 32.3% 769,994
ATP Atlas Pearls Ltd 0.05 31.6% 4,240,546
N1H N1 Holdings Ltd 0.25 28.2% 131,755
IHL Incannex Healthcare 0.64 25.5% 11,280,249
BUX Buxton Resources Ltd 0.105 25.0% 1,411,031
PCL Pancontinental Energ 0.005 25.0% 158,448,882
T3D 333D Limited 0.0025 25.0% 240,000
FNX Finexia Financialgrp 0.074 23.3% 1,198
PVE Po Valley Energy Ltd 0.032 23.1% 12
BRX Belararoxlimited 0.7 22.8% 73,869
WHK Whitehawk Limited 0.135 22.7% 4,370,204
GCR Golden Cross 0.19 22.6% 124,080
LSR Lodestar Minerals 0.011 22.2% 18,286,043
EPX Ept Global Limited 0.085 21.4% 58,182
360 Life360 Inc. 5.68 21.4% 3,201,532
LYK Lykosmetalslimited 0.29 20.8% 517,263
BMN Bannerman Energy Ltd 0.215 19.4% 10,670,899
MRL Mayur Resources Ltd 0.155 19.2% 59,082
ASP Aspermont Limited 0.025 19.0% 787,134
AVA AVA Risk Group Ltd 0.285 18.8% 2,771,632
AGE Alligator Energy 0.065 18.2% 31,736,037
HE8 Helios Energy Ltd 0.13 18.2% 8,990,331

Jewellery company Atlas Pearls (ASX:ATP) led today’s small cap gains among stocks with news, after reporting a half-year net profit of $4.1m this morning.

The company, which operates multiple oyster farms in Indonesia, said profits were assisted by the launch of its online platform “in response to the COVID-19 pandemic”, enabling it to “continue selling its pearls worldwide through uncertain times”.

Cybersecurity platform WhiteHawk (ASX:WHK) also posted strong gains, following the release of its full-year report ended December 31.

WHK said it reported a 180% lift in revenues to $3.4m with a strong pipeline of additional work opportunities.

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
BWX BWX Limited 2.46 -27.0% 4,481,104
YPB YPB Group Ltd 0.0015 -25.0% 250,000
ECG Ecargo Hldg 0.025 -21.9% 25,000
99L 99 Loyalty Ltd. 0.011 -21.4% 3,213,030
RD1 Registry Direct 0.015 -21.1% 304,963
FZR Fitzroy River Corp 0.14 -20.0% 3,994,627
ABE Ausbondexchange 0.32 -17.9% 56,963
DLT Delta Drone Intl Ltd 0.019 -17.4% 338,250
PPY Papyrus Australia 0.048 -17.2% 1,396,733
CT1 Constellation Tech 0.005 -16.7% 2,752,368
MTB Mount Burgess Mining 0.005 -16.7% 1,428
CII CI Resources Limited 1.06 -15.5% 10,710
X2M X2M Connect Limited 0.14 -15.2% 40,000
BEX Bikeexchange Ltd 0.068 -15.0% 45,492
AFW Applyflow Limited 0.0035 -12.5% 102,488
AQX Alice Queen Ltd 0.007 -12.5% 1,884,687
GGG Greenland Minerals 0.056 -12.5% 8,756,779
PHO Phosco Ltd 0.092 -12.4% 62,478
BVS Bravura Solution Ltd 1.665 -11.9% 4,674,069
GRX Greenx Metals Ltd 0.185 -11.9% 10,000
TOR Torque Met 0.185 -11.9% 15,625
PG1 Pearl Global Ltd 0.023 -11.5% 320,459
RSG Resolute Mining 0.24 -11.1% 15,072,969
CPH Creso Pharma Ltd 0.069 -10.4% 8,252,958
DDB Dynamic Group 0.39 -10.3% 5,800

ANNOUNCEMENTS YOU MAY HAVE MISSED

Pancontinental Energy’s (ASX:PCL) neighbour TotalEnergies has announced a “major” light oil discovery in the Venus-1X well, offshore Namibia.

The 84 metres of light oil and an associated gas reservoir bodes well for PCL’s Saturn turbidite complex, of which it holds 75% ownership and is the project operator.

The announcement marks the second major oil discovery offshore Namibia this month and follows in the wake of Shell’s Graff-1 light oil discovery, which is being followed by the appraisal of its second well Graff-2.

Electro Optic Systems Holdings (EOS:ASX) announced today that its wholly owned subsidiary SpaceLink is accelerating its satellite rollout with a new, smaller, communications design that will expedite profitability at a significantly reduced cost.

Its breakthrough developments involve the integration of higher bandwidth communication terminals on both small and large satellites, “further improving the profitability of the SpaceLink business model… reducing the cost of the initial capability deployment by 33% from US$750 million to US$240 million,” including satellites, launch, ground-based infrastructure and Opex to achieve profitable operations, the company said.

“The new budget also includes funds required to implement risk mitigation activity with OHB for future improved satellites,” the company said in a statement to the ASX.”

Radiopharmaceutical company, Clarity Pharmaceuticals (ASX:CU6) announced today that it has successfully treated its first participant in the cohort 2 of the “e 64Cu/67Cu SARTATE™ therapy trial (CL04) of paediatric patients with high-risk neuroblastoma “at the increased dose level of 175MBq/kg body weight.”

Clarity previously had successfully treated three participants who received the therapy at a dose of 75MBq/kg body weight during its cohort 1 phase, and, following an assessment by the Safety Review Committee, was authorised to increase the dosage as the trial progressed to cohort 2 without modification.

TRADING HALTS

Strike Resources (ASX:SRK) — Paulsons East iron ore project
Kalium Lakes (ASX:KLL) — Commissioning strategy
QX Resources (ASX:QXR) — Binding MoU and capital raising
Buddy Technologies (ASX:BUD) — Application to the Supreme Court of WA