The ASX saw a frenzy of M&A deals today and it sent the market higher.

Companies completing deals included Ramelius Resources (ASX:RMS) buying Apollo Consolidated (ASX:AOP) and Class (ASX:CL1) being acquired by Hub24 (ASX:HUB) along with hints other takeover targets may be closer to being bought – specifically iCar Asia (ASX:ICQ), Senex Energy (ASX:SXY) and Sydney Airport (ASX:SYD).

The ASX 200 rose to a 0.26% gain, closing at 7,381 points.

It was a mixed picture in individual sectors.

Tech and Health both lost over 1% while the best sectors were resources and financials and they gained 1.04% and 0.95% respectively.

 

TODAY’S BIGGEST SMALL CAP WINNERS

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

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Coal stock Montem Resources (ASX:MR1) announced it was transitioning its Tent Mountain project into a renewable energy complex capable of producing wind power and green hydrogen.

Class (ASX:CL1), a company that delivers cloud-based software solutions for the wealth accounting market in Australia, surged thanks to a takeover bid from Hub24 (ASX:HUB).

WA gold explorer Torque Metals (ASX:TOR) rose after its latest drilling results.

Superloop (ASX:SLC) rose strongly, after announcing plans to sell its Hong Kong operations and select assets from Singapore to two buyers — Columbia Capital and DigitalBridge Investment Management — in a $140m deal.

 

TODAY’S BIGGEST SMALL CAP LOSERS

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

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Sensera (ASX:SE1) dropped off the back of its quarterly.

Infomedia (ASX:IFM) fell after announcing its CEO and managing director was resigning.

 

ANNOUNCEMENTS YOU MAY’VE MISSED

Spirit Telecom (ASX:ST1) announced a deal to sell its non-core consumer assets. The transaction will reap $5.1 million which would mean a book value profit of approximately $2.5 million from the divestment.

Tinybeans (ASX:TNY) announced a 1 year extension for its partnership with pet nutrition company Hills. Tinybeans says the US$1 million renewal is the longest contract extension in the company’s history.

Santos (ASX:STO) said it welcomed the decision by the NSW Land and Environmental Court to dismiss an appeal against its Narrabri Gas Project. The company says while the process pushed the timelines for the project back 12 months, it was committed to the project and promised 100% of the gas would go to the domestic market.

Regional Express (ASX:REX) says it is targeting the restarting of domestic operations between Sydney, Melbourne and Canberra from mid-November. This includes both regional Saab flights as well as the interstate 737 flights which were only launched in early March.

Bailador (ASX:BTI) told shareholders it would be selling a minority portion ($15.1 million) in investee company SiteMinder at its IPO but would still retain a stake worth $84.6 million. SiteMinder’s IPO valuation represents an IRR of 44% and multiple of investment cost of nearly 23 times its original investment.

Australian Ethical (ASX:AEF) increased its funds under management again in the September quarter. It hit $6.54 million Funds Under Management which is 8% higher than on June 30.

 

TRADING HALTS

Tuesday

Living Cell Technologies (ASX:LCT) – capital raising
Latrobe Magnesium (ASX:LMG) – capital raising

Wednesday

Firstwave Cloud Technology (ASX:FCT) – update to customer contracts
YPB (ASX:YPB) – capital raising
Trek Metals (ASX:TKM) – capital raising
Caspin Resources (ASX:CPN) – price query
Perpetual Resources (ASX:PEC) – strategic agreement
Lark Distilling (ASX:LRK) – acquisition
Propel Funeral Partners (ASX:PFP) – capital raising