Local stocks edged higher on Thursday, as the ASX 200 closed up by 0.13% following two days of losses.

Banking stocks fell again after getting hammered yesterday, while money moved back into big-name gold stocks as inflation jitters continue to linger in the background.

The big end of town outperformed the microcap Emerging Companies index which fell by 0.76%. But along with the usual round of resources winners, a number of small cap tech stocks outperformed in Thursday trade.

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.

Investors who hopped on board with Sunstone Metals (ASX:STM) backed a winner, after the company flagged a serious gold hit at its ‘Bramaderos’ project in southern Ecuador this morning.

Combined with its monster copper-gold strike at El Palmar (also in Ecuador), shares in STM have now surged almost 400% in the space of a few weeks.

Switching from minerals to tech, venture technology investment company Fatfish Group (ASX:FFG) also ripped higher today, although it didn’t have any news to report.

The gains and volume changes were heady enough to prompt a price query from the ASX, to which FFG replied it wasn’t aware of any information that would prompt a 40% moonshot in its stock price.

Also rising strongly was game developer Mighty Kingdom (ASX:MKL), which moved higher by a similar amount, also on no news.

Staying with tech, BNPL player PayRight (ASX:PYR) posted strong gains after an October trading update, where it flagged record monthly Gross Merchandise Value (GMV) processed through its platform of $11.3 million — up 21% from September.

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.

There’s been plenty of hot IPOs for junior explorers lately, including another one which surged yesterday.

But biopharmaceutical company Tissue Repair Ltd (ASX:TRP) didn’t find such demand on day one, after falling by around 40% on debut.

The company, which specialises in advanced healing products for chronic wounds, listed after raising $22m from investors at $1.15 per share.

However, the stock closed at 69.5c for an initial fall of 39.57%.

ANNOUNCEMENTS YOU MAY’VE MISSED

The New Zealand Commerce Commission gave transportation technology company Eroad (ASX:ERD) the OK to complete the acquisition of Cortex. The deal come just a fortnight before it is set to complete.

Latrobe Magnesium (ASX:LMG) told shareholders the recent surge in magnesium prices could substantially boost its earnings. If the current price of US$6,150 per metric tonne held long term it would increase its estimate of earnings from its 10,000tpa plant by ~$56 million.

Cettire (ASX:CTT) signed an agreement with Staff International to integrate products into Cettire’s platform and allow Cettire customers to access the brand. It also gave a trading update in which it reported active customers gained 220% and sales revenues grew 172% in the first four months of FY22 compared to the first four months of FY21.

Treasury Wine Estates (ASX:TWE) announced it was buying Frank Family Vineyards, a luxury wine business based in California’s Napa Valley. It will pay US$315 million which implies an EV/EBITDA multiple of 13.2 times.

Hiremii (ASX:HMI) shares rose despite the company telling shareholders it lost one its key clients – UGL. Arguably the good news was the company removing overhead costs associated with the order, a move the company said would improve its working capital and cash burn rate.

TRADING HALTS

Friday

eMetals (ASX:EMT) – acquisition and capital raising
Ultima United (ASX:UUL) – new project
Magnis Energy Technologies (ASX:MNS) – response to Australian article

Monday

Element 25 (ASX:E25) – operational update
Advanced Human Imaging (ASX:AHI) – NASDAQ listing update
Consolidated Zinc (ASX:CZL) – capital raising
Tietto Minerals (ASX:TIE) – capital raising
Poseidon Nickel (ASX:POS) – drilling results
RareX (ASX:REE) – exploration results
Arizona Lithium (ASX:AZL) – metallurgical test work
iCandy (ASX:ICI) – capital raising
ECS Botanics (ASX:ECS) – supply and tolling agreement