Closing Bell: ASX rallies 1.25pc as omicron fears continue to subside

The ASX had another day of solid gains, hitting a three week high with tech and resources leading the charge.

The ASX 200 rose 1.25%, closing at 7,405 and while all sectors were in the green, resources and tech both were the best – gaining over 2%. The “worst” sector was utilities which only gained 0.15%.

Markets continued their rally following a crash when the omicron variant was first identified.

There was one IPO today – Orange Minerals (ASX:OMX) – and it gained 2.5% on debut.

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
ERM	Emmerson Resources	0.17	130	61612068
WOO	Wooboard Tech Ltd	0.002	100	1716061
EN1	Engage:Bdr Limited	0.003	50	718696
NPM	Newpeak Metals	0.0015	50	588630
KGL	KGL Resources Ltd	0.645	34	704675
EGL	Environmental Group	0.23	31	3137834
RBR	RBR Group Ltd	0.005	25	5782354
FRS	Forrestaniaresources	0.335	24	1023899
GRV	Greenvale Mining Ltd	0.39	24	926201
BDG	Black Dragon Gold	0.07	21	490888
ATR	Astron Corp Ltd	0.36	20	115515
CFO	Cfoam Limited	0.012	20	4245760
CGB	Cann Global Limited	0.003	20	3647561
TMR	Tempus Resources Ltd	0.125	19	99107
AXI	Axiom Properties	0.065	18	180252
MQR	Marquee Resource Ltd	0.13	18	16005931
TG1	Techgen Metals Ltd	0.175	17	64000
CAV	Carnavale Resources	0.007	17	6985708
OXX	Octanex Ltd	0.028	17	50143
NME	Nex Metals Explorat	0.043	16	429440
APM	APM Human Services	2.85	15	1491982
AVE	Avecho Biotech Ltd	0.015	15	3682068

Copper explorer Emmerson Resources (ASX:ERM) rocketed with a “stunning” 117m at 3.38% copper from 75m at the ‘Hermitage Project’

Still with copper hits, another came from KGL Resources (ASX:KGL) and it gained over 30%.

For the second day in a row, the ASX’s top 10 winners list saw a positive clinical trial result today from Avecho Biotech (ASX:AVE). While it was just a Phase I trial, AVE is one of the few companies in the ASX conducting trials on a CBD-based drug, which is a soft gel product.

Scout Security (ASX:SCT) unveiled a partnership with Hypersion Partners to help it enter the USA and also gave shareholders a trading update.

TODAY’S BIGGEST SMALL CAP LOSERS

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

Scroll or swipe to reveal table. Click headings to sort.

Code	Company	Price	%	Volume
MBK	Metal Bank Ltd	0.007	-22	24932944
KFE	Kogi Iron Ltd	0.012	-20	1761107
LNY	Laneway Res Ltd	0.005	-17	1972100
GNM	Great Northern	0.006	-14	21546561
LCT	Living Cell Tech.	0.006	-14	3520862
EQEDA	Equus Mining Ltd	0.155	-14	339757
SAU	Southern Gold	0.056	-14	1254
CLA	Celsius Resource Ltd	0.02	-13	7511840
EPX	Ept Global Limited	0.135	-13	25000
CT1	Constellation Tech	0.007	-13	3000000
IND	Industrialminerals	0.22	-12	346858
ADS	Adslot Ltd.	0.022	-12	4663300
KCC	Kincora Copper	0.115	-12	190315
NNG	Nexion Group	0.16	-11	146949
LSR	Lodestar Minerals	0.008	-11	2703002
XST	Xstate Resources	0.004	-11	13000000
AMO	Ambertech Limited	0.31	-10	570275
MOQ	MOQ Limited	0.18	-10	297000
SBR	Sabre Resources	0.0045	-10	7150000
AAP	Australian Agri Ltd	0.027	-10	75893
SE1	Sensera Ltd	0.014	-10	1695144
ICE	Icetana Limited	0.095	-10	289505

Metal Bank (ASX:MBK) fell as a capital raising took effect.

ANNOUNCEMENTS YOU MAY’VE MISSED

Life360 (ASX:360) director James Synge bought just over $520,000 of shares in his company on market. This trade gives him a total of 1.89m shares owned directly and indirectly which equates to ~$21.44m.

Aircraft lessor Alliance Aviation (ASX:AQZ) announced final investment approval to build an aircraft maintenance facility at Rockhampton Airport. The $60 million hangar, which is due to be completed in November 2022 will support its fleet and be the largest of its kind (for civil aircraft) in Australia.

Fintech lender Money3 (ASX:MNY) told shareholders it undertook record lending in November and is forecasting an FY22 gross loan book of $800 million. It also secured a new funding facility with Andrew Pridham-led investment bank MA Financial (ASX:MAF).

Life sciences stock Trajan (ASX:TRJ) went on the acquisition trail again, buying North Carolina based business LEAP PAL parts for US$7.7 million. Leap helps customers in the lab instrumentation and liquid handling trade and has been in business for over 25 years.

The Independent Consumer and Competition Commission (ICCC) of Papua New Guinea gave Santos (ASX:STO) and Oil Search (ASX:OSH) the necessary regulatory clearance for their $21bn merger. The pair of oil giants are now just waiting on PNG’s National Court to sign off on the deal.

Dotz Nano (ASX:DTZ) signed a 3-year distribution agreement to roll out its COVID-19 test kits into Thailand. This deal is the fourth of its kind with separate agreements covering five other countries – Malaysia, Paraguay, the UAE, Sudan and Egypt.