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Closing Bell: Benchmark and small caps fall back on broader resources retreat
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- ASX 200 ends 1.4% lower
- Small caps slide 0.4%
- Strike strikes and I don’t know why
The ASX 200 and the Emerging Companies (XEC) index fell 1.4% and 0.4% respectively on Monday.
US stocks were no help at all after collapsing sharply on Friday amid a week of volatile trade. The broader S&P 500 and the Nasdaq ended the week lower, falling 1.5% and 3.1%.
Oil prices have given back what gains they’d made, Brent crude has lost over 3% and the US Nymex crude almost 4%.
The US dollar is still rampant, although we’d made some small gains, they’re apparently incidental to the overall trajectory of the currency which – according to the CBA FX team – is down, down, down until sometime after Christmas.
Betashares chief economist David Bassanese says the RBA’s unwillingness to follow the Fed could hurt the local dollar for longer.
“I now suspect the dollar will break to at least US58c over the next three to six months,” he said in a note.
Ahead of the Wall Street open, US Futures for all three major US indexes – the Dow Jones Industrial Average, S&P 500 and Nasdaq indices are all up by between 0.3% and 0.5%.
ASX SMALL CAP LEADERS
Here are the best performing ASX small cap stocks:
Swipe or scroll to reveal full table. Click headings to sort:
| Code | Company | Price | % | Volume | Market Cap |
|---|---|---|---|---|---|
| CL8R | Carly Holdings Ltd | 0.002 | 100% | 9,755 | $116,322 |
| SW1 | Swift Networks Group | 0.018 | 38% | 703,110 | $7,679,705 |
| CAD | Caeneus Minerals | 0.004 | 33% | 5,295,888 | $16,036,815 |
| PRM | Prominence Energy | 0.002 | 33% | 3,090,800 | $3,636,913 |
| SRK | Strike Resources | 0.12 | 25% | 1,403,281 | $25,920,000 |
| XRG | Xreality Group Ltd | 0.046 | 18% | 1,925,945 | $16,516,097 |
| VIP | VIP Gloves | 0.007 | 17% | 262,444 | $4,720,689 |
| WCG | Webcentral Ltd | 0.1675 | 16% | 636,936 | $47,388,362 |
| AGR | Aguia Res Ltd | 0.06 | 15% | 354,328 | $20,849,870 |
| DNA | Donaco International | 0.06 | 15% | 641,225 | $64,240,248 |
| W2V | Way2Vatltd | 0.03 | 15% | 106,071 | $4,623,949 |
| BEL | Bentley Capital Ltd | 0.069 | 15% | 15,959 | $4,567,675 |
| OEC | Orbital Corp Limited | 0.23 | 15% | 35,906 | $18,400,667 |
| ADV | Ardiden Ltd | 0.008 | 14% | 12,121,451 | $18,678,347 |
| SAU | Southern Gold | 0.032 | 14% | 20,000 | $5,973,205 |
| ACW | Actinogen Medical | 0.12 | 14% | 5,398,130 | $188,568,851 |
| HTG | Harvest Tech Grp Ltd | 0.08 | 14% | 152,702 | $41,294,858 |
| MMG | Monger Gold Ltd | 0.445 | 14% | 652,291 | $15,615,600 |
| HPC | Thehydration | 0.125 | 14% | 171,524 | $15,824,145 |
| NET | Netlinkz Limited | 0.025 | 14% | 3,772,539 | $72,026,014 |
| TTM | Titan Minerals | 0.086 | 13% | 2,361,184 | $107,256,762 |
| OXT | Orexploretechnologie | 0.09 | 13% | 11,000 | $8,293,136 |
| KP2 | Kore Potash PLC | 0.018 | 13% | 840,000 | $10,940,202 |
Strike Resources (ASX:SRK), is well higher on Monday. The spinoff, $70m market cap Lithium Energy (ASX:LEL), is in a trading halt pending drilling results from Solaroz lithium brine project in Argentina.
Australian Rare Earths (ASX:AR3) moved strongly this morning on news that it’s signed an MoU for offtake and technical collaboration with global rare earths processor Neo Performance Materials (TSX:NEO) to accelerate AR3’s Koppamurra rare earth project (“Koppamurra”) to first production.
ASX SMALL CAP LAGGARDS
Here are the worst performing ASX small cap stocks:
Swipe or scroll to reveal full table. Click headings to sort:
| Code | Company | Price | % | Volume | Market Cap |
|---|---|---|---|---|---|
| TMGR | Trigg Minerals Ltd | 0.001 | -67% | 418,554 | $170,014 |
| HIO | Hawsons Iron Ltd | 0.14 | -62% | 59,795,673 | $274,189,592 |
| MCMR | Mc Mining Ltd | 0.01 | -55% | 67,270 | $4,400,588 |
| AHQR | Allegiance Coal Ltd | 0.001 | -50% | 3,920,000 | $1,343,424 |
| CZRR | CZR Resources Ltd | 0.001 | -50% | 3,786,779 | $1,394,529 |
| ANL | Amani Gold Ltd | 0.001 | -33% | 2,088,488 | $35,540,162 |
| ARE | Argonaut Resources | 0.001 | -33% | 1,038,150 | $8,142,807 |
| MEB | Medibio Limited | 0.001 | -33% | 750,000 | $4,980,891 |
| NES | Nelson Resources. | 0.009 | -31% | 3,896,098 | $3,825,863 |
| S66 | Star Combo | 0.12 | -29% | 22,062 | $22,964,107 |
| GED | Golden Deeps | 0.013 | -24% | 80,873,815 | $19,638,854 |
| MBK | Metal Bank Ltd | 0.0035 | -22% | 6,044,032 | $11,768,615 |
| ABC | Adbri Limited | 1.45 | -21% | 13,033,474 | $1,200,834,701 |
| NNG | Nexion Group | 0.056 | -20% | 25,397 | $5,660,970 |
| TSC | Twenty Seven Co. Ltd | 0.002 | -20% | 1,740,020 | $13,304,070 |
| M24 | Mamba Exploration | 0.12 | -17% | 120,115 | $6,115,375 |
| MGT | Magnetite Mines | 0.02 | -17% | 27,888,042 | $91,002,589 |
| RMX | Red Mount Min Ltd | 0.005 | -17% | 47,619 | $9,854,183 |
| SIH | Sihayo Gold Limited | 0.0025 | -17% | 1,456,666 | $18,306,384 |
| BPH | BPH Energy Ltd | 0.021 | -16% | 3,099,751 | $19,819,981 |
| EYE | Nova EYE Medical Ltd | 0.24 | -16% | 29,511 | $41,571,368 |
| SRX | Sierra Rutile | 0.215 | -16% | 4,808,390 | $108,180,294 |
| NSX | NSX Limited | 0.038 | -16% | 200,000 | $16,237,389 |
| WEC | White Energy Company | 0.31 | -15% | 32,140 | $14,807,791 |
| AHN | Athena Resources | 0.0085 | -15% | 6,355,673 | $8,129,676 |
Hawsons Iron (ASX:HIO), which has been dumped, and dumped hard. Between 10am and 12.30pm today, HIO lost 59.5% of its trading value after announcing to the market that “escalating global costs and deteriorating economic conditions have necessitated a slowdown” for its bankable feasibility study activities.
