While you were watching the Melbourne Cup the ASX retreated, the RBA hinted an interest rate hike could be coming sooner than 2024, and a new IPO gained 165%.

The ASX 200 closed at 7,324 points – 0.63% down from yesterday. The best sector was property trusts which gained 1.2% but resources shed 2.1% and energy and financials both lost over 1%.

The RBA said that a rate hike in 2023 was now plausible but it said a hike in 2022 – which some economists have begun to predict in the last month – was unlikely.

 

TODAY’S BIGGEST SMALL CAP WINNERS

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

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Engineering service provider RemSense Technologies (ASX:REM) had a sizzling hot debut gaining 165%.

Intelicare (ASX:ICR), which has AI-based aged care and health solutions, announced a contract win with MercyCare – a WA aged care provider.

Wealth platform Praemium (ASX:PPS) rose after getting a merger bid from fund manager Netwealth (ASX:NWL). While it rejected the bid, it indicated it would be open to accepting a bid at a higher price.

 

TODAY’S BIGGEST SMALL CAP LOSERS

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

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Australian Potash (ASX:APC) fell after completing a capital raising.

 

ANNOUNCEMENTS YOU MAY HAVE MISSED

Over 7 months since Computershare (ASX:CPU) first announced the acquisition of Wells Fargo Corporate Trust Services it closed the deal. CEO Stuart Irving said today was an exciting day and that the deal accelerated its position in the US corporate trust market to a top 4 position.

Goodman Group (ASX:GMG), a logistics real estate owner, upgraded its earnings per share growth from 10% to 15%. The company credited booming conditions in the sector, triggered by the acceleration in ecommerce.

National Tyre & Wheel (ASX:NTD) announced it was buying truck tyre business Black Rubber for over $26 million. The company says the deal was a highly complementary strategic fit and it would increase annualised sales to approximately $520 million.

CIMIC (ASX:CIM) had its subsidiary CPB Contractors confirmed as the builder for Parkline Place in the Sydney CBD. The building, which is expected to deliver $368 million in revenue during construction, will lie above the north entrance to Sydney Metro’s Pitt Street station and be 39 stories high.

The TGA has approved Illuccix, Telix Pharmaceuticals’ (ASX:TLX) prostate cancer imaging product, for use in Australia. The company said it was an important milestone and would establish a blueprint for several more near-term regulatory submissions and reviews in the Asia-Pacific region.

 

TRADING HALTS

Wednesday

EP&T Global (ASX:EPX) – capital raising
Marquee Resources (ASX:MQR) – potential project acquisitions
Siren Gold (ASX:SNG) – capital raising
Meteoric Resources (ASX:MEI) – capital raising
Ingenia Communities Group (ASX:INA) – capital raising
Arcadia Minerals (ASX:AM7) – lithium acquisition
Traffic Technologies (ASX:TTI) – capital raising
Paradigm Biopharmaceuticals (ASX:PAR) – regulatory review

Thursday

Alvo Minerals (ASX:ALV) – exploration update
Berkeley Energia (ASX:BKY) – claim made by OIA
MetalsTech (ASX:MTC) – acquisition