Closing Bell: Gold spikes and tech stocks catch a bid in bullish session

Local stocks posted a strong session on Thursday, as the ASX 200 climbed by around 1% while the microcap Emerging Markets index jumped again (+1.9%).

Asian markets were buoyant more broadly, following a steady session on Wall Street overnight as US investors digested the latest inflation print.

US CPI is still climbing, and bond traders continue to bring forward the timeline for the first rate hike by the Federal Reserve (now priced for September 2022).

In response, gold had its best session in seven months (this is probably why).

On local markets, tech stocks took the honours as the ASX 200 Information Technology index jumped by more than 4% — its best session since early August.

Money also moved back into the big iron ore miners and gold stocks caught a healthy bid, while banks and energy lagged.

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
ANL	Amani Gold Ltd	0.003	50.0%	20,816,694
ZNO	Zoono Group Ltd	0.505	27.8%	2,507,474
AIQ	Alternative Invest	0.14	27.3%	71,931
STK	Strickland Metals	0.091	26.4%	81,546,337
MSI	Multistack Internat.	0.05	25.0%	695,000
BAS	Bass Oil Ltd	0.0025	25.0%	3,610,000
VIC	Victory Mines Ltd	0.0025	25.0%	2,619,155
DOU	Douugh Limited	0.083	23.9%	10,992,592
RIE	Riedel Resources Ltd	0.018	20.0%	2,167,314
DDT	DataDot Technology	0.012	20.0%	4,171,779
LNY	Laneway Res Ltd	0.006	20.0%	1,975,000
VPR	Volt Power Group	0.003	20.0%	480,351
BKT	Black Rock Mining	0.215	19.4%	2,841,749
PVW	PVW Res Ltd	0.29	18.4%	3,314,109
CXO	Core Lithium	0.56	17.9%	97,942,949
NOR	Norwood Systems Ltd.	0.02	17.6%	657,833
QHL	Quickstep Holdings	0.054	17.4%	9,326,855
AFR	African Energy Res	0.041	17.1%	1,416,843
AZL	Arizona Lithium Ltd	0.049	16.7%	48,212,280
TEG	Triangle Energy Ltd	0.021	16.7%	29,293,697
MTB	Mount Burgess Mining	0.007	16.7%	76,422

Microcap Amani Gold (ASX:ANL) hitched a ride to the macro moves in the gold price, jumping by 50% on no news.

Sanitiser company Zoono (ASX:ZNO) also jumped sharply in afternoon trade, after releasing its quarterly 4C filing for Q3 at 12:49pm EST.

Zoono booked net positive operating cashflows of $2.074m, on cash receipts of $4.868m. The company said it’s executing on a direct distribution strategy and is aiming for a “direct presence in all major EU markets, including France, Italy, Germany and Spain” within the next 6-9 months.

African Energy (ASX:AFR) was also among the leaders, after advising that joint venture (Sese) in which it has a 30.3% stake has been invited to tender for a new 300MW coal-fired power station in Botswana.

Fintech player Douugh (ASX:DOU) also held its gains, after announcing a tie-up with a US-based cryptocurrency business that will allow users to hold crypto assets on the Douugh app.

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.

Code	Company	Price	%	Volume
NPM	Newpeak Metals	0.001	-50.0%	16,775,000
OVT	Ovato Limited	0.002	-33.3%	751,908
WOO	Wooboard Tech Ltd	0.0015	-25.0%	3,326,000
NKL	Nickelxltd	0.15	-21.1%	4,019,095
CCE	Carnegie Cln Energy	0.002	-20.0%	4,586,109
TPS	Threat Protect Ltd	0.004	-20.0%	200,000
TKM	Trek Metals Ltd	0.12	-17.2%	4,770,044
ADT	Adriatic Metals	2.78	-16.5%	3,993,726
CII	CI Resources Limited	1	-15.6%	5,000
HCD	Hydrocarbon Dynamic	0.017	-15.0%	368,085
RMI	Resource Mining Corp	0.017	-15.0%	250,999
JNO	Juno	0.115	-14.8%	468,420
GGX	Gas2Grid Limited	0.003	-14.3%	1,421,262
MRD	Mount Ridley Mines	0.006	-14.3%	5,420,632
DGR	DGR Global Ltd	0.059	-13.2%	194,605
RBL	Redbubble Limited	3.99	-12.5%	7,235,056
BTR	Brightstar Resources	0.044	-12.0%	3,336,724

ANNOUNCEMENTS YOU MAY’VE MISSED

Sandfire Resources (ASX:SFR) completed the sale of its entire stake in Adriatic Metals (ASX:ADT), reaping $97 million. Sandfire CEO Karl Simich said Adriatic had been an “excellent investment” but was no longer a strategic asset for the company with its focus on the MATSA operation in Spain.

Collins Foods (ASX:CKF) increased its footprint of KFC stores in the Netherlands by nine, taking its network to 44 restaurants which is 55% of the market. The deal will cost €;10.25 million ($16 million) which was based on pre-COVID revenue figures.

The Healthcare and Wellness REIT (ASX:HCW) – run by Home Consortium (ASX:HMC) – announced $200 million of property acquisitions which will take its portfolio to $850 million on an as-complete basis. These included 13 Metro Childcare centres and the Proxima health hub at Southport in Queensland.

The ASX’s newest telco Swoop (ASX:SWP) increased its FY22 guidance to $43-$45 million revenue and $10.5-$11 million in earnings. The company upped its expectations after its recent acquisition of Countrytell which it just raised $41 million to acquire.

Electricity provider Locality Planning Energy (ASX:LPE) grew its customers to 43,500 which is 30% higher than 12 months ago. The company says it expects to add another 10,000 customers during FY22.
Health club operator Viva Leisure (ASX:VVA) opened its 200th location today, 10 years after the first opened. The company says a further 45 territories are now sold and at various stages of opening.