Last Orders: ASX small caps gain over 1 per cent to start the week

The ASX Emerging Companies Index rose by 1.3 per cent to 2,112.9 while the ASX Small Ords rose 1.06 per cent to 3,224 points.

The ASX 200 Index gained a more modest 0.59 per cent, reaching 6,880.7 points.

Today’s biggest winner was NuEnergy Gas (ASX:NGY) which finished 160 per cent today off the back of no news while the biggest winner with news was MPower (ASX:MPR) after its half yearly results.

Among large caps, financials and materials finished the day in the green.

ANNOUNCEMENTS

Papyrus (ASX:PPY), a small cap that’s seeking to replace wood veneer products with banana veneer, announced it intended to enter China and signed a Memorandum of Agreement with Union Pacific Trading to help it enter China. It anticipates the first “turn-key” factory in China in 2022.

Tech stock Prophecy International (ASX:PRO) fell over 10 per cent after its half yearly results. The company admitted it had been unable to replicate its 2019 sales and had been further hit by the US dollar weakening against the Australian dollar as well as political uncertainty and COVID-19 restrictions

Medical imaging stock Optiscan (ASX:OIL) told shareholders it was starting patient recruitment this month for the next stage of its clinical trial – testing its technology against breast cancer.

Kingrose Mining (ASX:KRM) announced a new CEO in founder and former CEO of TSX Venture Exchange listed Tethyan Resources, Fabian Baker.

Accounting firm Kelly Partners Group (ASX:KPG) announced it was opening another office, the group’s 23rd, on Sydney’s Northern Beaches. In revealing the move, CEO Brett Kelly said that working from home would mean that “areas like Pittwater are likely to experience above trend demand for high quality services”.