• ASX 200 is up 0.2% and the XEC is down -0.2%
  • Tension stateside ahead of FOMC decision, EU markets to start flat
  • CPI at 6.1% is better than feared but enough to move the RBA next Tuesday
  • And a crack team of small caps broke out of the ordinary and went totally nuts


Across the Pacific, US and European investors are starting to roll out of bed and screw their courage to the breakfast plate ahead of The Fed’s conclusions following their very intense two-day policy meeting.

Everyone’s largely forecasting a second straight 75 basis point bump to interest rates.

Like many central banks around the world, the Fed is acting aggressively to rein in inflation against a backdrop of slowing economic activity.

Like local markets, possibly even chiller, I hardly missed a beat when the June inflation figures dropped. Headline inflation slipped in at 6.1% year on year, that number slipped in under the 6.3% most economists slipped up by expecting.

The Australian Bureau of Statistics says they’re still the worst in terms of size and speed since the GST (Goods and Services Tax) slipped into our lives back in about 2000.

All eyes at home are now on the Reserve Bank of Oz, the money is for the cash rate to head on up by 50 basis points to 1.85% next Tuesday.

The RBA’s preferred measure of underlying inflation, the trimmed mean which snatches out some of the primary drivers like petrol – rose by 1.5% over the qtr and 4.9% higher over the year.

“It is clear inflation is running hot in Australia,” says CBA’s senior economist Belinda Allen, “and further rate rises will be needed.”

“We expect headline inflation to peak at ~ 6.75% YoY over the next two quarters.” Belinda added that the inflation data printed very close to CBA expectations.

“As a result we retain our call that the RBA will lift the cash rate by 50bp at the August Board Meeting.”

On equity markets, the benchmark was in the red at 11.30am when the CPI dropped. Tech, Mining and Energy giving back some of the riches stolen on Tuesday.



Here are the best performing ASX small cap stocks [intraday]:

Code Company Price % Volume
SZL Sezzle Inc. 0.705 96% 25,697,164
LBY Laybuy Group Holding 0.08 86% 10,991,393
CBE Cobre 0.088 80% 29,809,849
NGY Nuenergy Gas Ltd 0.029 71% 2,142,167
PSC Prospect Res Ltd 0.081 62% 102,722,539
MGG Mogul Games Grp Ltd 0.003 50% 331,435
NTL New Talisman Gold 0.0015 50% 500,000
VMG VDM Group Limited 0.0015 50% 7,000,391
INP Incentiapay Ltd 0.01 43% 1,363,399
DOU Douugh Limited 0.0395 36% 14,581,306
IND Industrial Minerals 0.34 36% 83,648
HE8 Helios Energy Ltd 0.093 29% 2,958,670
ADV Ardiden Ltd 0.009 29% 2,554,176
OPY Openpay Group 0.3275 28% 2,278,500
PYR Payright Limited 0.115 28% 52,675
OLY Olympio Metals Ltd 0.15 25% 90,873
AUK Aumake Limited 0.005 25% 1,334,373
PGM Platina Resources 0.032 23% 440,558
SPX Spenda Limited 0.016 23% 31,640,523
FFG Fatfish Group 0.035 21% 3,188,742
ABE Ausbondexchange 0.35 21% 93,792
SKF Skyfii Ltd 0.0675 21% 351,022
FGL Frugl Group Limited 0.018 20% 91,279
BIR BIR Financial Ltd 0.03 20% 243,387
TYX Tyranna Res Ltd 0.024 20% 24,491,987
WordPress Tables Plugin

Swipe or scroll to reveal full table. Click headings to sort:

Buy Now Pay Later lives.

It’s, and I really hate to say it, sizzling today – as jilted Zip Co partner, Sezzle (ASX:SZL) more than doubled its share price after already rising powerfully on Tuesday as well.

Sezzle stock not worth the price of a BBQ steak, is 95% higher just ahead of the bell.

Over the last week the business wooed and wasted by Zip Co (ASX:ZIP) has now found 200% of extra sausage to sizzle.

Sezzle is in a bit of a trading halt now, pending a further announcement, according to the ASX.

Over in the other lane, Zip is up  20% for no apparent reason. Month to date, that bad boy is up circa 150%.

Cobre (ASX:CBE) shares are officially nuts on Wednesday too. At least this punchy biz has a copper find at its Ngami Copper Project (NCP) in the Kalahari Copper Belt (KCB), Botswana has struck visual mineralisation which is bigger and thicker and all investors might have hoped.

Cracked with a speeding ticket after racking up 70% or so of un-news-related share price excitement, Nuenergy Gas (ASX:NGY), is still in a trading halt, pending an explanation.



Here are the worst performing ASX small cap stocks [intraday]:

Code Company Price % Volume
TSC Twenty Seven Co. Ltd 0.002 -33% 502,091
ATU Atrum Coal Ltd 0.005 -29% 8,091,843
ANL Amani Gold Ltd 0.0015 -25% 4,540,407
ICN Icon Energy Limited 0.014 -18% 116,552
MRI My Rewards International 0.053 -17% 8,449
BEZ Besragoldinc 0.034 -17% 150,000
AL8 Alderan Resource Ltd 0.01 -17% 16,301,537
APC Aust Potash Ltd 0.04 -17% 5,289,859
DXN DXN Limited 0.005 -17% 1,500,643
HIO Hawsons Iron Ltd 0.34 -16% 11,774,988
DRM Demetallicalimited 0.21 -16% 206,217
NUH Nuheara Limited 0.22 -15% 209,650
MOB Mobilicom Ltd 0.034 -15% 504,840
NTD National Tyre&Wheel 0.895 -15% 1,345,052
ROO Roots Sustainable 0.003 -14% 800,000
NCR Nucoal Resources Ltd 0.0095 -14% 1,914,050
CML Chase Mining Limited 0.013 -13% 5,199,295
RFR Rafaella Resources 0.026 -13% 841,082
IVT Inventis Limited 0.079 -13% 100,000
NET Netlinkz Limited 0.033 -13% 1,425,122
ARO Astro Resources NL 0.0035 -13% 340,000
CLE Cyclone Metals 0.0035 -13% 2,611,264
NAE New Age Exploration 0.007 -13% 2,938,910
TNY Tinybeans Group Ltd 0.21 -13% 70,299
FG1 Flynngold 0.092 -12% 336,945
WordPress Tables Plugin



Just a couple of quick results that came in across the afternoon, in amongst a flurry of Trading Halts, which have been itemised below for your reading pleasure.

AusQuest (ASX:AQD) says it’s completed drilling three holes at its Hamilton Copper Project in North-West Queensland, and is happy with some promising early results from the exploration.

The company says it’s spotted moderate-to-strong off-hole EM response close to drill-hole HMDDH018, highlighting the potential for a sulphide body within the mineralised BIF sequence.

Meanwhile, Austral Gold (ASX:AGD) has some new figures from drilling at its Casposo-Manantiales project in Argentina, which look like this: 

  • 4.40m @ 18.65g/t gold and 58g/t silver, including 3.12m @ 26.04g/t gold and 37g/t silver 
  • 2.35m @ 15.61g/t gold and 81g/t silver, including 1.58m @ 22.30g/t gold and 116g/t silver
  • 2.50m @ 9.73g/t gold and 49g/t silver, including 0.90m @ 25.48g/t gold and 125g/t silver



Memphasys (ASX:MEM) – Capital raise

Siren Gold (ASX:SNG) – Who could possibly resist the Siren SNG, calling out for a capital raise?

Creso Pharma (ASX:CPH – Capital raise

Way 2 Vat (ASX:W2V) – There’s an acquisition in the works! 

New World Resources (ASX:NWC) – NWC wants time to consider, plan and execute a capital raise. They’re not the only ones.

Linius Technologies (ASX:LNU) – Capital raise.

Theta Gold Mines (ASX:TGM) – Theta’s got a DFS on the way.

dorsaVi (ASX:DVL) – … it’s a capital raise.

Cygnus Gold (ASX:CY5) – Material acquisition! … and a capital raise.

Metro Mining (ASX:MMI) – announcement regarding completion of an institutional placement and launch of a share purchase plan.

Cipherpoint (ASX:CPT) – Ooooh. An acquisition.

K-TIG (ASX:KTG) – Material agreement announcement incoming.

NuEnergy Gas (ASX:NGY) – Price and volume query.