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Closing Bell: Markets await Russia conflict updates as US stock futures push higher
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After the Russia-Ukraine crisis sent US investors back into their shell overnight, ASX investors were comparatively sanguine in Friday trade.
Large caps still finished in the red, but a host of gains among junior explorers saw the microcap Emerging Companies index gain ground with a ~0.6% increase.
Gold briefly pushed above US$1,900/oz, while Bitcoin is holding just above US$40,000 as risk sentiment remains poised on a knife-edge.
After closing lower following the brutal selloff overnight, US stocks future have pushed higher in afternoon Asian trade and a short time ago Nasdaq futures were pointing to a gain of ~0.8%.
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 |
|---|---|---|---|---|
| GCR | Golden Cross | 0.155 | 716% | 2,771,955 |
| HOR | Horseshoe Metals Ltd | 0.035 | 192% | 19,818,429 |
| CCE | Carnegie Cln Energy | 0.003 | 50% | 2,202,758 |
| EN1 | Engage:Bdr Limited | 0.0015 | 50% | 8,706,506 |
| TMK | Tamaska Oil Gas Ltd | 0.015 | 36% | 16,119,177 |
| ANL | Amani Gold Ltd | 0.002 | 33% | 32,388,233 |
| YPB | YPB Group Ltd | 0.002 | 33% | 1,484,170 |
| TYM | Tymlez Group | 0.047 | 24% | 30,562,564 |
| SCT | Scout Security Ltd | 0.043 | 23% | 233,191 |
| ALA | Arovella Therapeutic | 0.052 | 21% | 32,500,671 |
| MFG | Magellan Fin Grp Ltd | 21.7 | 18% | 4,538,607 |
| ACP | Audalia Res Ltd | 0.013 | 18% | 265,000 |
| EDU | EDU Holdings Limited | 0.2 | 18% | 1,775 |
| SMS | Starmineralslimited | 0.2 | 18% | 2,000 |
| TTB | Total Brain Ltd | 0.14 | 17% | 389,333 |
| DMM | Dmcmininglimited | 0.155 | 15% | 6,604 |
| ARE | Argonaut Resources | 0.004 | 14% | 22,279,463 |
| AXP | AXP Energy Ltd | 0.008 | 14% | 2,047,945 |
| MCT | Metalicity Limited | 0.008 | 14% | 2,178,903 |
| KGD | Kula Gold Limited | 0.048 | 14% | 1,037,057 |
| DTM | Dart Mining NL | 0.098 | 14% | 1,280,442 |
| W2V | Way2Vatltd | 0.125 | 14% | 184,249 |
| SHN | Sunshine Gold Ltd | 0.052 | 13% | 3,228,419 |
| IS3 | I Synergy Group Ltd | 0.13 | 13% | 32,469 |
| ODM | Odin Metals Limited | 0.0305 | 13% | 2,268,582 |
Two junior explorers, Golden Cross Resources (ASX:GCR) and Horseshoe Metals (ASX:HOR), came out of ASX suspensions today and posted big percentage gains — at least with reference to their pre-suspension trading levels.
There was also a big move in under-fire funds management firm Magellan Financial (ASX:MFG), which bounced off recent lows following a half-year update where it still flagged plans to lift its interim dividend despite the loss of some big client funds.
At today’s close of $21.79, Magellan is still a far cry from its pre-pandemic halcyon days above $70 per share.
Back at the small-cap end of town, junior resources stocks largely dominated Friday’s winner’s list although there was also a move in mental wellness app Total Brain (ASX:TTB), which jumped by 16.6% on no news.
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 |
|---|---|---|---|---|
| ANW | Aus Tin Mining | 0.001 | -33% | 64,527,000 |
| ALT | Analytica Limited | 0.0015 | -25% | 661,638 |
| LKO | Lakes Blue Energy | 0.0015 | -25% | 50,916,756 |
| MRI | Myrewardsinternation | 0.081 | -17% | 4,616,577 |
| PCL | Pancontinental Energ | 0.005 | -17% | 7,973,864 |
| RXH | Rewardle Holding Ltd | 0.01 | -17% | 777,510 |
| RCR | Rincon | 0.105 | -16% | 55,708 |
| M2M | Mtmalcolmminesnl | 0.11 | -15% | 174,757 |
| RAB | Adrabbit Limited | 0.029 | -15% | 314,265 |
| IRI | Integrated Research | 0.755 | -15% | 1,537,432 |
| ROG | Red Sky Energy. | 0.006 | -14% | 4,744,034 |
| TKL | Traka Resources | 0.012 | -14% | 3,165,468 |
| GFN | Gefen Int | 0.33 | -13% | 210,954 |
| CAD | Caeneus Minerals | 0.007 | -13% | 24,457,978 |
| GGE | Grand Gulf Energy | 0.029 | -12% | 4,123,940 |
| GIB | Gibb River Diamonds | 0.06 | -12% | 176,662 |
| DBO | Diabloresources | 0.115 | -12% | 58,629 |
| PIL | Peppermint Inv Ltd | 0.012 | -11% | 1,255,116 |
| BNR | Bulletin Res Ltd | 0.16 | -11% | 19,302,056 |
| CLE | Cyclone Metals | 0.004 | -11% | 1,354,844 |
| OEX | Oilex Ltd | 0.004 | -11% | 2,935,318 |
| RR1 | Reach Resources Ltd | 0.008 | -11% | 2,400,000 |
| BBX | BBX Minerals Ltd | 0.13 | -10% | 105,047 |
| BDT | Birddog | 0.35 | -10% | 206,883 |
| EPX | Ept Global Limited | 0.092 | -10% | 215,808 |
ANNOUNCEMENTS YOU MAY HAVE MISSED
The Supreme Court of Queensland has today ordered a meeting of campervan rentals group Apollo Tourism & Leisure Ltd (ASX:ATL) shareholders to consider its merger with NZ-based rival Tourism Holdings (NZX:THL).
Under the proposed merger ATL shareholders would receive one fully paid ordinary share in THL for every 3.68 share in ATL. The meeting is scheduled for April 20. In an announcement ATL said its directors consider the merger to be in the best interests of its shareholders.
Gold and nickel miner Indiana Resources (ASX:IDA) has addressed an article in Africa Intelligence on February 17 about its arbitration through the International Centre for Settlement Disputes for the expropriation of IDA’s Ntaka Hill Nickel Project in Tanzania.
IDA said the article refers to a desire by the United Republic of Tanzania to enter into settlement discussions to resolve the dispute. However, in an announcement, IDA said it had not been approached by the United Republic of Tanzania to engage in any settlement discussions. The company said it “remains open to engaging in discussion and would welcome reasonable offers to settle the current dispute”.
Finance company Humm Group (ASX:HUM) has struck a deal to sell its BNPL, installment and credit card operations Hum Consumer Finance (HCF) for $335 million to Latitude Group (ASX:LFS).
In an announcement Hum said the two parties had executed a binding agreement that would see consumer finance company Latitude take control of HCF. The deal consists of cash of $35 million and 150 million Latitude shares. There were concerns a softening of the BNPL sector could see the consideration being reduced or not go ahead.
TRADING HALTS
The following companies went into trading halts on Friday and are expected out in the coming days.
Gold Mountain (ASX:GMN) — Capital raising
Metgasco (ASX:MEL) — Capital raising
Red Dirt Metals (ASX:RDT) — Capital raising
Ardea Resources (ASX:ARL) — Capital raising
Reidel Resources (ASX:RIE) — Capital raising
Pantera Minerals (ASX:PFE) — Extraordinary General Meeting — acquisition
Eve Health Group (ASX:EVE) — Capital raising
KneoMedia (ASX:KNM) — Capital raising
