Small caps have gained for a fifth straight session and the 12th trading day out of the past 15.

The Small Ordinaries index of 100 small cap companies finished Monday up 0.17 per cent to 3,084.2 – and set an intraday 12-year high of 3,114.8, its best level since June 2008.

Its finish was also just shy of its 12-year closing high of 3,086, set on February 20.

With results like that it might seem churlish to complain – but the index on Monday didn’t manage to quite up with benchmark ASX200, which gained 0.62 per cent to 6,675 amid more gains for iron ore miners.

The Emerging Companies microcap index advanced 0.3 per cent to 1,908.7.

Cannabis companies were some of the biggest gainers on the ASX on Monday, following a historic vote by the US House of Representatives to remove marijuana from the federal controlled substances act.

While the measure is all but certain to die in the Republican-controlled Senate, cannabis advocates nevertheless hailed the vote as symbolic progress.

Auscann Group (ASX:AC8) gained 58.1 per cent to 24.5c, Creso Pharma (ASX:CPH) advanced 55 per cent to 5.5c, CannPal (ASX:CP1) gained 35.5 per cent to 21c and Elixinol Global (ASX:EXL) was up 20.8 per cent to 29c.

Announcements

– Cirralto (ASX:CRO) gained 30 per cent to 3.9c after the business-to-business payment provider signed an agreement with Fiserv (NASDAQ:FISV) and Visa (NYSE:V), in which Fiserve will serve as the exclusive merchant acquirer for Cirralto. The agreement will increase Cirralto’s profit margins on credit and debit card payments by up to 40 per cent.

– Telix Pharmaceuticals (ASX:TLX) dipped 3.0 per cent to $3.83 after Australia’s Therapeutic Goods Administration granted a priority review for its prostate imaging product.

The 127-carot diamond (supplied)

– Lucapa Diamond (ASX:LOM) announced it had recovered a 127-carat gem-quality white stone from its alluvial mine in Angola. The gemstone is the 16th 100-plus diamond recovered from Lulo and the third so far this year.

– Ahalife Holdings (ASX:AHL) announced that its name had officially changed to Design Milk Co, the name of the digital media website the company acquired last year. The brand is aimed at people passionate about interior design. From Wednesday, the company’s ASX listing code will change to DMC.

– Atomo Diagnostics (ASX:AT1) fell 1.6 per cent to 31.5c despite PrEP Health agreeing to purchase at least 10,000 HIV self-tests tests from Atomo for distribution in Australia.

– MedAdvisor (ASX:MDR) was flat at 39c after the medtech upgraded its second-half guidance. Revenue from its new US subsidiary Adheris has come in stronger than anticipated, with the business already exceeding its forecasts for the full half year.

– MGC Pharamceuticals (MXC) flagged the upcoming publication this week of full results for its phase two clinical trial into its anti-inflammatory medicine. The results are expected after an independent technical and statistical validation of clinical trial data.

The review is being managed by the Clinical Research Organisation under Food and Drug Administration requirements. Interim results from the trial published in August showed the anti-inflammatory medicine met all of its safety and efficacy end points.

“Our company continues to process initiatives designed to fast-track pathways to market ahead of the phase two results for the anti-inflammatory medicine, in order to be in a position to be responsive to potential market demand,” MGC Pharma co-founder and managing director, Roby Zomer, said.

Trading halts

Tuesday:

88 Energy (ASX:88E) – Project Peregrine farm out
Tali Digital (ASX:TD1) – partnership and investment
Home Consortium (ASX:HMC) – capital raising
Andromeda Metals (ASX:ADN) – exploration results
Skin Elements (ASX:SKN) – acquisition
Wide Open Agriculture (ASX:WOA) – production results
Incannex (ASX:IHL) – clinical trial
Primero Group (ASX:PGX) – Barket Inlet power station contract

Wednesday:

SI6 Metals (ASX:SI6) – company update
Adavale Resources (ASX:ADD) – capital raising
Cann Global (ASX:CGB) – capital raising
The Agency Group (ASX:AU1) – clarification of media article
Bryah Resources (ASX:BYH) – capital raising
Pacific Nickel Mines (ASX:PNM) – capital raising
iCandy Interactive (ASX:ICI) – capital raising
Aldoro Resources (ASX:ARN) – drilling results
KNeoMedia (ASX:KNM) – capital raising
Big River Industries (ASX:BRI) – capital raising
Village Roadshow (ASX:VRL) – shareholder vote  

Featured Companies

You might be interested in