The Australian bourse recouped most of yesterday’s losses despite tech stocks dropping again, this time by 3.49%.

The ASX 200 rose 0.78%, closing at 7,411 points, with the gains driven by the resources and energy sectors, which gained 2.3% and 2.54% respectively.

Dominating global markets was the renomination of Federal Reserve chair Jerome Powell. While most sectors welcomed the announcement, tech stocks have suffered amidst inflation gears and travel stocks continued to be hit by the latest COVID-19 waves.

 

TODAY’S BIGGEST SMALL CAP WINNERS

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

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Buru Energy (ASX:BRU), a WA-focused gas explorer, rose after an operational update.

Ironbark Zinc (ASX:IBG), an explorer with a zinc project in Greenland, revealed that its project qualified for privileged 402(A) support status under the US’s recently introduced China and Transformational Export Program. The company says this is the first funding application of any kind to receive the standalone designation.

And 4D Medical (ASX:4DX) told shareholders its XV lung monitoring software would be rolled out commercially with I-MED, Australia’s largest diagnostic imaging provider.

 

TODAY’S BIGGEST SMALL CAP LOSERS

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

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Constellation Resources (ASX:CR1) fell after an exploration update.

 

ANNOUNCEMENTS YOU MAY’VE MISSED

One of the ASX’s larger SaaS companies, Technology One (ASX:TNE), unveiled its results for the 12 months to September 30. Its pre-tax profit was up 19% and its Annual Recurring Revenue reached $192.3 million, which is up 43%.

Just under three weeks since getting a takeover offer from Carlyle, Link (ASX:LNK) received a second offer, this one coming from LC Financial Holdings. Link says it will grant this company due diligence and consider the offer in compliance with its fiduciary and statutory obligations.

Tech venture capital firm Touch Ventures (ASX:TVL) has invested $4.5 million into ecommerce tech company Prezzie. This was the vast majority of Prezzie’s $5.5 million Series A raising, which the companies say will help it expand in Australia and in other global markets.

Tamboran Resources (ASX:TBN) raised $35 million in a private placement which was spearheaded by US energy investor Bryan Sheffield who chipped in $20 million. The company says the funds will be used to accelerate commercialisation of its EP 136 well located in the Beetaloo sub-Basin in the Northern Territory.

Still with energy, AXP Energy (ASX:AXP) recorded net revenue for October of just over $2 million. This came despite a 32% decline in oil sales because of the slowing down of its oil inventory sales.

Red River Resources (ASX:RVR) lost an appeal of its royalty dispute against Thalanga Copper Mines. It owes $20 million in a judgement sum, payable in 28 days, but the company says once paid it will have no ongoing royalty obligations.

 

TRADING HALTS

Wednesday

MinRex Resources (ASX:MRR) – acquisition
Sovereign Cloud Holdings (ASX:SOV) – capital raising
Jameson Resources (ASX:JAL) – capital raising
Magnetic Resources (ASX:MAU) – capital raising
Delorean (ASX:DEL) – material contract tender
Horizon Minerals (ASX:HRZ) transaction of Richmond Vanadium stake

Thursday:

African Energy Resources (ASX:AFR) – capital raising
White Cliff Minerals (ASX:WCN) – capital raising
Saturn Metals (ASX:STN) – capital raising
Creso Pharma (ASX:CPH) – price query
Life360 (ASX:360) – acquisition
Elevate Uranium (ASX:EL8) – capital raising
Actinogen (ASX:ACW) – capital raising
Race Oncology (ASX:RAC) – capital raising
4DS Memory (ASX:4DS) – capital raising
Pinnacle (ASX:PNI) – capital raising and acquisition