Closing Bell: Today’s biggest small cap movers on the ASX
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A quick wrap of the key winners and losers on Wednesday, May 13.
Data is taken after the market closes at 4pm EST.
Stocks highlighted in yellow made market-moving announcements during the day.
Systems operator MSL Solutions (ASX:MPW) was among the leaders, are investors approved of its trading update this morning.
The company, which provides communications networks for the sports, leisure and hospitality sectors, said despite the impact of COVID-19 there had been no material change to recurring revenues in its two main business channels.
Domestic airline Regional Express (ASX:REX) also rose strongly, on news it may look to take advantage of the turmoil in Australia’s aviation sector and expand its offering to capital city routes. Stockhead’s Nick Sundich has more here.
Among the losers, CML Group (ASX:CGR) fell sharply after a potential takeover offer from Scottish Pacific Group Limited fell through.
In terminating the agreement, Scottish Pacific issued a notice which “set out its concerns that events may have occurred which constituted a material adverse effect on CML’s business”, the company said.