Vladimir Putin has confirmed the world’s worst fears with a full scale invasion of Ukraine, which commenced earlier this afternoon Australian time.

After starting more than 1% lower, the ASX continued sliding throughout the day.

And when  attacks on Ukraine capital Kyiv were reported amid a spate of separate attacks across the country, things got really wobbly.

The ASX 200 finished the day more than 3% while the microcap Emerging Companies index has tanked by ~4%.

US stock futures are falling fast, with Ukraine leaders declaring a state of martial law as the world faces up to what could turn into a supranational conflict.

Amid the chaos, Bitcoin dropped almost 10% to fall back below US$35,000, while gold has maintained its status as a safe haven as the precious metal pushes further above US$1,900.

Oil prices also climbed above US$100/barrel in Asian trade for the first time since 2014, as Russia — a major energy producer — cuts itself off from the international community.

Here’s a couple of links for the latest Ukraine updates:

TODAY’S BIGGEST SMALL CAP WINNERS

(Stocks highlighted in yellow rose after making announcements during the trading day).

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On a rough day for stocks, oil & gas explorer Melbana Energy (ASX:MAY) leapt ahead after announcing an oil strike in Cuba, shortly after midday EST.

Drill work at its Alameda1 onshore project in Cuba revealed “extensive natural fracturing, an important production characteristic for a limestone reservoir of this type and one that could lead to an upgrade of the net pay estimate as the characteristics of the reservoir become better understood”, the company said.

“The recovery characteristics of this reservoir interval will be better understood once initial flow testing work is done,” which is expected to commence in around two weeks, Melbana said.

TODAY’S BIGGEST SMALL CAP LOSERS

(Stocks highlighted in yellow fell after making announcements during the trading day).

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Half-year reporting season produced some ugly results, as gaming technology accessory distributor Cellnet (ASX:CLT) slumped by more than 30% following its February trading update.

Also going into free-fall following their half-year reports were womens clothing retailer City Chic Collective (ASX:CCX) and data technology company Appen (ASX:APX).

ANNOUNCEMENTS YOU MAY HAVE MISSED

Radiopharmaceutical company, Cyclopharm Limited, (ASX:CYC) reported record sales revenue of $17.70 million for the year ending 31 December 2021, a 20.6% increase on the previous year. Sales of its Technegas diagnostic product increased 7% to $13.21 million, while third party distribution revenues increased by 89% to $4.10.

Semiconductor stock Revasum (ASX:RVS) also had a good year, reporting total revenue of $13.7 million in its FY21 results, in line with previous guidance (FY20: US$15.4 million). It also reported US$6.2 million in other recurring revenue, a 13% increase from FY20 of US $5.5 million, while increasing its gross margins for the second consecutive year to 35.3%, up from 31.8% in FY20 and 11.2% in FY19.

Antisense Therapeutics Limited (ASX:ANP) today announced a world first study of Long Covid in collaboration with US experts. The company has signed an agreement to study the neurological aspects of Long Covid-19 (Long Neuro Covid) with US based researchers led by global leader in the field, Dr Igor Koralnik of the Northwestern Medicine Neuro-COVID clinic in Chicago.

The study will assess up to 7000 plasma proteins in existing blood samples from Long Covid patients, including those experiencing neurological symptoms where blood immune cell changes were observed. It is expected that the study will generate new data on protein changes utilising a method of large-scale protein analysis known as “proteomics’, which can point to potential disease pathologies of Long Neuro COVID-19 and assess its amenability to treatment.

TRADING HALTS

Tombola Gold (ASX:TBA) — Capital raising
Sayona Mining (ASX:SYA) — Updated resource statement
Nanollose (ASX:NC6) — Pilot spin, Nullabor fibre