Closing Bell: ASX starts the week with a 0.26pc gain and several M&A deals

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.

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

Code	Company	Price	%	Volume
MR1	Montem Resources	0.088	96	39123909
AXP	AXP Energy Ltd	0.012	71	473597534
CL1	Class Limited	2.92	61	4147622
XTC	Xantippe Res Ltd	0.003	50	202283730
PNM	Pacific Nickel Mines	0.145	45	1680140
A8G	Australasian Gold	0.88	36	1886217
PAM	Pan Asia Metals	0.59	30	7871553
HLX	Helix Resources	0.022	29	23638043
TOR	Torque Met	0.28	27	6852398
IBG	Ironbark Zinc Ltd	0.057	27	13994020
BXN	Bioxyne Ltd	0.029	26	1251559
ALT	Analytica Limited	0.0025	25	7641546
ARO	Astro Resources NL	0.005	25	1349951
CGB	Cann Global Limited	0.005	25	13033042
NTL	New Talisman Gold	0.0025	25	2062500
ENT	Enterprise Metals	0.016	23	4110570
SLC	Superloop Limited	1.185	22	11337439
AO1	Assetowl Limited	0.006	20	1751944
AGY	Argosy Minerals Ltd	0.255	19	22509034
AJJ	Asian Amer Medical	0.045	18	599
CZL	Cons Zinc Ltd	0.04	18	3257030
AEE	Aura Energy	0.34	17	3607502
TER	Terracom Ltd	0.205	17	8980980
TYX	Tyranna Res Ltd	0.007	17	400000

Wordpress Table Plugin

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.

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

Code	Company	Price	%	Volume
ANL	Amani Gold Ltd	0.002	-33	59515136
SE1	Sensera Ltd	0.016	-27	33862460
OEX	Oilex Ltd	0.004	-20	2168000
GSM	Golden State Mining	0.11	-19	1151804
NWE	Norwest Energy NL	0.022	-15	99997322
IFM	Infomedia Ltd	1.39	-15	5098694
NOR	Norwood Systems Ltd.	0.017	-15	382199
GGX	Gas2Grid Limited	0.003	-14	1100000
MTB	Mount Burgess Mining	0.006	-14	82000
AFA	ASF Group Limited	0.044	-14	17249
RTR	Rumble Res Limited	0.49	-13	5138846
ICL	Iceni Gold	0.29	-12	384577
SW1	Swift Media Limited	0.022	-12	311014
AUK	Aumake Limited	0.023	-12	1161973
JNO	Juno	0.115	-12	165542
1VG	Victory Goldfields	0.2	-11	211103
AUH	Austchina Holdings	0.008	-11	20105105
EQE	Equus Mining Ltd	0.008	-11	5515157
HSC	HSC Technology Group	0.016	-11	340275
QXR	Qx Resources Limited	0.016	-11	8810594
GIB	Gibb River Diamonds	0.081	-11	1494604
MCE	Matrix C & E Ltd	0.205	-11	209161
BLZ	Blaze Minerals Ltd	0.025	-11	120000
Code	Company	Price	%	Volume

Wordpress Table Plugin

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.