• ASX 200 limps home with 0.1% gain
  • Small cap index drags itself almost to close flat
  • WR1 cops speeding ticket after 57% surge

 

On Wall Street, the S&P 500 lost 0.5%, Dow Jones Industrial Average slipped 0.2 %.and the Nasdaq Composite Index fell by near 1%  as angst ridden traders ummed and ahhed their way through another night in the shadow of The Fed.

Our market’s done pretty well in their stead, although as I write with some 40 mins left to play both the small cap (XEC) index and the benchmark are being overwhelmed by the volatility messing around with the major US futures, neither markets really looking resolved ahead of the headline FOMC decision early Thursday morning Australian time.

In the states, the Federal Reserve is widely thought t be looking at another 75 basis point splurge. Markets are certainly bracing for what would be the 4th straight such hike in a row

At 3.25PM Sydney time, the Emerging Companies Index is flat and distracted, the ASX 200 is tired and of a most horizontal disposition.

Following an ordinary Tuesday the lead sectors today are the Energy, Materials and Consumer Discretionary names.

Comms stocks are doing well again, and some of the tech names.

Should this wastrel of a local share market manage to hold onto its nerve, we’d be looking at an unlikely 3rd straight day of gains and 7th positive close out of the last 8 days of trade. It’s not a record, but in these dark times, it’s certainly a cassette tape, if not a CD.

And yes. The banks are raising after the central bank made its 25bps move on Tuesday at 2.30pm in Hobart.

The NAB this morning and a few. minutes ago, Commonwealth Bank says its home loan variable interest rates will rise by 0.25% from November 11, in lock step with the thinkers behind Governor Dr P. Lowe

CBA is also bumping up a few term deposits. The 12-month by 0.40% to 3.75%. The 18-month to 4%, from November 7.

 

ASX SMALL CAP LEADERS

Here are the best performing ASX small cap stocks:

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Recently listed Atlantic Lithium (ASX:A11) is all over high grade lithium at the advanced 30.1Mt at 1.26% Ewoyaa project in Ghana, West Africa.

Winsome (ASX:WR1) has clarified the recent excitement and confusion regarding a 160m pegmatite intersection below the recently discovered and well mineralised Jamar outcrop at the Adina Lithium Project in Quebec, Canada.

Trade was paused after it became clear that there was something amiss. Winsome then produced another statement retracting this.

Then overnight, Winsome put out another announcement, this time including some tables that it was supposed to have included right from the beginning of this story, which made investors happy again – and this morning, WR1 rose in price by 41.3%.

NOW… (the latest, latest) WR1 is back in  self-imposed trading halt pending the company’s response to an ASX price query.

Via ASX

The halt will last until the earlier of the start of normal trading on November 4 or when the announcement is released to the market.

Winsome shares were 57%  this arvo, ahead of the self-halt.

Finder Energy Holdings (ASX:FDR), up 25% today on no news, but most likely off the back of recent movements in prices across the energy markets.

And Cosmos Exploration (ASX:C1X) has been bumped up 17.8% today on news that it has spotted significant rare earth potential at the Byro East Ni-Cu-PGE Project in WA, after a review of surface soil geochemistry has returned values of up to 1,283ppm from a total of five rare elements (TREO5) plus yttrium in clay-rich soils.

 

ASX SMALL CAP LAGGARDS

Here are the worst performing ASX small cap stocks:

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A FEW YOU MAY’VE MISSED TODAY

Critical Minerals Group (ASX:CMG) says it’s has successfully completed its planned aircore drilling program at the flagship Lindfield Vanadium Project.

CMG’s completed a decent 860m drill  all up, including 23 x aircore holes, 1 open hole and 3 water monitoring holes.

The drilling program is aimed to increase the geological confidence of the deposit with the ongoing goal of upgrading the resource.

The drill core is now being sent for assay testing and metallurgical test work.

Carbon Revolution Limited (ASX: CBR) might be in a pickle. The carbon-focused small cap says it’s been suspended from quotation immediately (under Listing Rule 17.2), pending the release of an announcement in response to ASX queries around its ‘Quarterly Activities and Appendix 4C Cash Flow Report’ released to the ASX on inauspicious 31 October.

TRADING HALT

Taruga Minerals (ASX:TAR) – Capital raise

Tombola Gold (ASX:TBA) – Capital raise

Winsome (ASX:WR1) – That’s a self-halt