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Closing Bell: Another win for the ASX on Friday; Austral nabs US$3 billion US Navy deal
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- S&P/ASX 200 closes up 0.6%, while the emerging companies index rises 0.86%
- Austral’s US subsidiary Austral USA awarded a contract worth up to US$3.195 billion from the US Navy
- Pushpay ceases trading on the ASX and NZX following its $1.6 billion takeover by Pegasus Bidco
The S&P ASX 200 index has closed up 0.6% on Friday. The S&P ASX Emerging Companies index (XEC) – a benchmark for Australia’s micro-cap companies – was also higher by 0.86%.
The local market followed Wall Street higher, which rallied overnight on optimism the debt ceiling crisis could be resolved this weekend.
The S&P 500 closed up by 0.94%, the Dow Jones by 0.34%, and tech-heavy Nasdaq by 0.34%. FAANG stocks Netflix, Apple, Alphabet, Meta, Microsoft, and Nvidia all closed up to their highest levels in a year. US futures are pointing to another positive day of trade.
Back on the Aussie bourse and eight of the 11 sectors were in the green today with the local tech sector continuing to perform strongly and lead the winners list up 2.22%, followed by financials which rose 1.58% and communication services, gaining 0.74%.
The laggards were the utilities sector, down 0.63% followed by energy and industrials, which fell 0.8% and 0.06% respectively.
Japanese markets highest level in 33 years
Japan markets are ending the week strong as with the Nikkei members of the G7 gathering in Hiroshima for the G-7 summit starting today.
At 4.30pm (AEST) The Nikkei 225 was up 0.77%, maintaining the highest levels since 1990 and the Topix climbing 0.18%— marking its sixth day winning streak.
The rise in Japanese markets comes despite the country’s core inflation for April measuring 3.4% year-on-year, above the central bank’s 2% target.
Meanwhile, Chinese markets have fallen with the Hong Kong’s Hang Seng index down 1.05% and the Shanghai Composite sliding 0.40% in mainland China.
TODAY’S 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 |
|---|---|---|---|---|---|
| CLE | Cyclone Metals | 0.0015 | 50% | 1,074,996 | $9,089,248 |
| ARE | Argonaut Resources | 0.002 | 33% | 755,407 | $9,542,807 |
| MTL | Mantle Minerals Ltd | 0.002 | 33% | 125,000 | $8,018,408 |
| APC | Aust Potash Ltd | 0.012 | 33% | 12,756,078 | $9,348,112 |
| BUR | Burley Minerals | 0.295 | 28% | 834,279 | $14,125,301 |
| ASB | Austal Limited | 2 | 25% | 8,148,241 | $578,094,791 |
| AVE | Avecho Biotech Ltd | 0.005 | 25% | 4,739,482 | $8,648,637 |
| ASR | Asra Minerals Ltd | 0.011 | 22% | 1,379,500 | $13,204,068 |
| EOS | Electro Optic Systems | 0.89 | 22% | 2,191,988 | $125,002,284 |
| SLZ | Sultan Resources Ltd | 0.045 | 22% | 3,074,304 | $3,821,522 |
| SW1 | Swift Networks Group | 0.017 | 21% | 1,277,791 | $8,299,153 |
| PAM | Pan Asia Metals | 0.29 | 21% | 590,661 | $37,263,913 |
| VSR | Voltaic Strategic | 0.06 | 20% | 32,810,233 | $15,365,011 |
| MLS | Metals Australia | 0.048 | 20% | 4,627,797 | $24,281,448 |
| MME | Moneyme Limited | 0.125 | 19% | 394,256 | $29,740,959 |
| AHI | Advanced Health | 0.09 | 18% | 605,567 | $14,919,102 |
| DLI | Delta Lithium | 0.675 | 18% | 10,144,966 | $257,024,869 |
| HCT | Holista CollTech Ltd | 0.013 | 18% | 210,000 | $3,066,801 |
| MVL | Marvel Gold Limited | 0.013 | 18% | 697,799 | $9,497,705 |
| AZY | Antipa Minerals Ltd | 0.0165 | 18% | 11,521,823 | $50,342,697 |
| MEM | Memphasys Ltd | 0.02 | 18% | 1,026,779 | $16,311,846 |
| VMS | Venture Minerals | 0.02 | 18% | 7,300,546 | $30,080,779 |
| IHL | Incannex Healthcare | 0.135 | 17% | 5,271,939 | $182,506,191 |
| EPN | Epsilon Healthcare | 0.021 | 17% | 430,337 | $5,406,372 |
| NWM | Norwest Minerals | 0.035 | 17% | 836,517 | $7,421,136 |
On the winners list today is shipbuilder Austal (ASX:ASB), which has announced its US subsidiary Austral USA has been awarded a contract worth up to US$3.195 billion from the US Navy.
The contract includes options for detail design and construction of up to seven Auxiliary General Ocean Surveillance Ships T-AGOS 25 class. These bad boys:
T-AGOS ships, operated by United States Military Sealift Command (MSC), support the antisubmarine warfare (ASW) mission of the commanders of the Atlantic and Pacific Fleets by providing a platform capable of passive and active anti-submarine acoustic surveillance.
ASB CEO Paddy Gregg said the T-AGOS contract adds to Austral USA’s growing portfolio of steel shipbuilding programs and is a further demonstration of the US Government’s trust in its capabilities.
TODAY’S ASX SMALL CAP LOSERS
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 |
|---|---|---|---|---|---|
| RPG | Raptis Group Limited | 0.02 | -39% | 113,237 | $2,095,050 |
| DXN | DXN Limited | 0.002 | -33% | 12,600,000 | $5,163,945 |
| VPR | Volt Power Group | 0.001 | -33% | 1,211,279 | $16,074,312 |
| IS3 | I Synergy Group Ltd | 0.007 | -30% | 10,000 | $2,890,804 |
| FFT | Future First Tech | 0.02 | -29% | 28,000 | $20,015,424 |
| MTM | MTM Critical Metals | 0.1 | -29% | 20,324,166 | $12,370,058 |
| BAT | Battery Minerals Ltd | 0.003 | -25% | 24,873 | $13,427,769 |
| TSI | Top Shelf | 0.26 | -24% | 1,646,726 | $28,617,641 |
| GFN | Gefen Int | 0.007 | -22% | 526,352 | $612,901 |
| MRI | My Reward International | 0.018 | -22% | 1,560,818 | $5,036,950 |
| HVM | Happy Valley | 0.02 | -20% | 415,749 | $5,648,864 |
| INP | Incentiapay Ltd | 0.008 | -20% | 1,763,593 | $12,650,636 |
| RML | Resolution Minerals | 0.004 | -20% | 1,054,801 | $6,286,459 |
| DSK | Dusk Group | 1.235 | -18% | 1,317,000 | $94,335,815 |
| 8VI | 8Vi Holdings Limited | 0.52 | -17% | 1,500 | $26,700,296 |
| ROC | Rocketboots | 0.075 | -17% | 240,193 | $2,857,500 |
| VAR | Variscan Mines Ltd | 0.015 | -17% | 854,003 | $5,726,176 |
| CHK | Cohiba Min Ltd | 0.005 | -17% | 600,000 | $10,879,465 |
| GCR | Golden Cross | 0.005 | -17% | 230,000 | $6,583,537 |
| SER | Strategic Energy | 0.017 | -15% | 8,000 | $5,934,874 |
| T92 | Terra Uranium | 0.21 | -14% | 159,487 | $10,168,764 |
| ADX | ADX Energy Ltd | 0.006 | -14% | 291,428 | $24,742,372 |
| AHN | Athena Resources | 0.003 | -14% | 2,828,564 | $3,746,636 |
| M4M | Macro Metals Limited | 0.003 | -14% | 150,000 | $6,954,772 |
| OPN | Oppenneg | 0.03 | -14% | 748,387 | $7,032,010 |
LAST ORDERS
Continuing with defence contracts and Electro Optic Systems (ASX:EOS) is ending the week on a high with its share price rising more than 20% today after announcing its wholly-owned subsidiary EM Solutions Pty Limited has secured a lucrative Australian Defence Force (ADF) contract worth ~$150 million.
The contract is part of the ADF’s Project SEA1442-5, established to modernise communications across the Royal Australian Navy fleet.
Under the contract, EM Solutions will deliver and install systems on several Royal Australian Navy vessels, allowing legacy communications systems to be retired.
The deliveries include terminals (including antenna), spares and related products and services.
EOS said the value of the agreed contract is $149.5m, with potential for further supply not to exceed an additional $52.7m, yielding a total contract value of up to $202.2m.
The contract schedule extends for seven years from 2023 to scheduled final acceptance in 2030.
And today marks the last day on the ASX for dual-listed church donor app Pushpay (ASX:PPH) following the finalisation of its acquisition by Sixth Street and BGH Capital consortium Pegasus Bidco Limited.
PPH announced that it had received final orders from the New Zealand High Court approving a revised $1.6 billion takeover bid earlier this month.
The company is delisting from both the ASX and NZX at the close of trade today, when the acquisition formally finalises.
Consideration is NZ$1.42/PPH share for all shareholders.
TRADING HALTS
Renegade Exploration (ASX:RNX) – Exploration results from the Mongoose Project and in response to ASX price and volume query.
Rimfire Pacific Mining (ASX:RIM) – Unsolicitored funding offer
Alma Metals (ASX:ALM) – Capital raise
Tyranna Resources (ASX:TYX) – Update on the Namibe Prospecting Licence
Titanium Sands (ASX:TSL) – Licence update
American West Metals (ASX:AW1) – Exploration results and response to ASX price query
Omega Oil & Gas (ASX:OMA) – Update on Canyon-1 Permian Deep Gas drilling program
