- 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:
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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:
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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.