Last Orders: ASX Small caps gain 2.2 per cent

ASX investors began the week firmly in a risk-on mode, particularly when it came to small caps.

The ASX Emerging Companies Index rose by 2.22 per cent to 2,142 and the ASX Small Ords gained 1.65 per cent to 3,221. The ASX 200 meanwhile gained 0.91 per cent, rising to 6,869 points.

The best performing sectors were materials and consumer discretionary goods while utilities was the sole sector in the red.

Microcap Fargo Enterprises (ASX:FGO) was the best performing stock, gaining 140 per cent today. despite having no news.

Following behind was cancer diagnostics stock Bard1 (ASX:BD1) which gained another 103 per cent with more positive clinical data.

ANNOUNCEMENTS

Medtech Orthocell (ASX:OCC) obtained another US patent for CelGro, covering surgical repair of soft tissue injuries.

Renascor Resources (ASX:RNU) has been granted a reduced royalty rate for its Siviour graphite project in South Australia. It will now only pay 2 per cent of the net value of minerals recovered from Siviour as opposed to 3.5 per cent.

Delta Drone (ASX:DLT) signed on a new client, agriculture services company Syngenta. The project also marks the company’s entry into Zambia where it will help Syngenta virtually visualise and analyse crops as well as remotely capturing data.

Hubify (ASX:HFY) announced it was acquiring the database assets of Queensland based telco provider, Nethoster. The deal will cost $800,000 in cash and contribute $1 million in annualised recurring revenue and $400,000 in earnings post synergies.