Small caps rose this afternoon as partial US election results showed Donald Trump leading in several key battleground states.

The Small Ordinaries index lost ground around lunchtime but then moved higher as the incumbent president won the key battleground state of Florida.

However, the race had tightened up by the close of ASX trade and US stock futures markets had fallen back following an earlier surge.

The index of 100 companies in the ASX300 (but not the ASX200) closed on Wednesday up 31.1 points, or 1.1 per cent, to 2,809.3. The ASX200 dropped 4.3 points, or 0.1 per cent, to 6,062.1.

As vote counting continues in the US, two things are almost certain:

  • Passionate supporters on both sides will not sleep well tonight.
  • Pollsters and headline writers will not sleep at all tonight.

Here’s what you might have missed on the ASX in all the noise:

Announcements

– Micro-X (ASX:MX1) soared 40.5 per cent to 7.5c after its Seattle subsidiary was selected by the US Department of Homeland Security to develop a prototype self-service baggage scanner. The company and its partners could be paid $US4 million ($5.6 million) for its work on the projects.

– Apiam Animal Health (ASX:AHX) gained 4.5 per cent to 70c after the veterinary service provider said it would pay another $3.63 million for Animal Consulting Enterprises. Apiam agreed to buy the animal vaccine maker for $9.9 million in cash up-front last year and the deferred consideration was payable because ACE met certain performance thresholds.

– Founders First (ASX:FFL) dipped 1.4 per cent to 36c after the craft beer and spirits company announced its shareholders had approved a name change to Mighty Craft, its industry-facing identity. The company will apply to change its ASX code to MCL.

– Lifespot Health (ASX:LSH) gained 3.4 per cent after announcing it had completed a $720,500 private placement to M I D Wealth, an investment vehicle owned by a network of service providers to healthcare professionals. Money from the placement will be used to fund clinical trials on the company’s Medihale inhaler and other cannabinoid inhalation devices, and other purposed.

– ParagonCare (ASX:PGC) gained 5.3 per cent to 20c after the medical equipment provider said it swung to being cashflow positive in the first quarter of FY2021, compared to a cashflow loss of $13 million a year ago. Gross profit margins declined marginally due to a temporary change in the sales mix to lower-margin sales such as personal protective equipment.

– Universal Biosensors (ASX:UBI) was flat at 31c after announcing it had received $2.8 million in cash as a research and development incentive rebate. The rebate will strengthen the company’s balance sheet as it is prepares to launch its free sulphite testing for wine next year, chief executive John Sharman said.

Trading halts

Thursday: 
Iron Road (ASX:IRD) – capital raising
Incannex Healthcare (ASX:IHL) – ARDS animal trial results
Recce Pharmaceuticals (ASX:RCE) – anti-viral testing results
Ionic Rare Earths (ASX:IXR) – drilling results
Santana Minerals (ASX:SMI) – capital raising

Friday: 

IXUP (ASX:IXU) – capital raising
Lucapa Diamond (ASX:LOM) – capital raising
Red Sky Energy (ASX:ROG) – capital raising
Scout Security (ASX:SCT) – capital raising
MedAdvisor (ASX:MDR) – capital raising