Closing Bell: Tech down but energy and Jerome Powell’s reappointment lifts ASX

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).

Scroll or swipe to reveal table. Click headings to sort.

Code	Company	Price	%	Volume
ALT	Analytica Limited	0.002	100	1331013
PCL	Pancontinental Energ	0.002	100	1500000
CCE	Carnegie Cln Energy	0.003	50	6237555
WOO	Wooboard Tech Ltd	0.002	33	3225075
ECT	Env Clean Tech Ltd.	0.063	31	50183406
AO1	Assetowl Limited	0.005	25	147926
XST	Xstate Resources	0.005	25	7155701
YPB	YPB Group Ltd	0.0025	25	1155502
MLS	Metals Australia	0.003	20	30153261
MNS	Magnis Energy Tech	0.6	19	53840145
PYR	Payright Limited	0.28	17	59524
IMR	Imricor Med Sys	1.35	16	292157
BCT	Bluechiip Limited	0.058	16	2756754
PGY	Pilot Energy Ltd	0.08	16	25742368
RRR	Revolverresources	0.365	16	258092
IBG	Ironbark Zinc Ltd	0.044	16	8231356
AKO	Akora Resources	0.26	16	869974
4DX	4Dmedical Limited	1.385	15	1230664
GL1	Globallith	0.69	15	2695754
KNM	Kneomedia Limited	0.016	14	68193
OEX	Oilex Ltd	0.004	14	3
GWR	GWR Group Ltd	0.12	14	297954
MCE	Matrix C & E Ltd	0.2	14	122066

Wordpress Table Plugin

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).

Scroll or swipe to reveal table. Click headings to sort.

Code	Company	Price	%	Volume
AIV	Activex Limited	0.085	-43	1322054
CR1	Constellation Res	0.24	-35	1025456
SAN	Sagalio Energy Ltd	0.013	-28	60000
OAK	Oakridge	0.0015	-25	1962080
ERW	Errawarra Resources	0.245	-25	1111898
CAE	Cannindah Resources	0.185	-21	6688736
IQ3	Iq3Corp Limited	0.1	-20	20800
XTC	Xantippe Res Ltd	0.004	-20	10066111
VAR	Variscan Mines Ltd	0.047	-18	3518040
ACR	Acrux Limited	0.1	-17	3044976
IGN	Ignite Ltd	0.125	-17	683249
MEM	Memphasys Ltd	0.092	-16	2435852
HNG	HGL Limited	0.4	-16	47296
IXU	Ixup Limited	0.155	-15	1492162
SHP	South Harz Potash	0.135	-14	2590526
VOR	Vortiv Ltd	0.038	-14	234273
OGA	Ocean Grown Abalone	0.073	-13	663438
STM	Sunstone Metals Ltd	0.1	-13	23321260
PIL	Peppermint Inv Ltd	0.02	-13	11592825
TGM	Theta Gold Mines Ltd	0.17	-13	78507
TRT	Todd River Res Ltd	0.096	-13	1776062
CAV	Carnavale Resources	0.007	-13	963571
LCT	Living Cell Tech.	0.007	-13	2800000

Wordpress Table Plugin

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.