Last Orders: What you might have missed on the ASX today

Small caps have bounced back following three days of losses – although they have a lot more ground to make up.

The Small Ordinaries index finished Wednesday up 1.0 per cent, or 30.3 points, to 3,064.9. From Friday to Tuesday, they had lost 87.7 points.

The index managed to outperform its larger peers, with the ASX200 up just 0.66 per cent and the ASX20 gaining 0.4 per cent. The All Ordinaries was up 0.69 per cent.

The Emerging Companies index of micro-cap stocks rose 0.73 per cent, to 1,882.4.

Every sector was in the green except for mining, which declined 0.44 per cent. Property trusts was the biggest gainer, collectively climbing 2.1 per cent.

Avecho Biotech (ASX:AVE) was among the biggest gainers, rising 127.8 per cent to 4.1c after announcing it would begin an observational study testing its oral cannabidiol (CBD) product in patients being prescribed medicinal cannabis.

Announcements

– Freelancer (ASX:FLN) rose 4.2 per cent to 49.5c after announcing it had won a $US365,000 task order from the US Bureau of Reclamation to improve the reliability of hydropower plants through automated monitoring tools. Freelancer noted it has over 2.5 million freelance engineers on its platform, including 260,000 who specialise in electrical engineering.

– Genetic Signatures (ASX:GSS) rose 19.4 per cent to $2.03 after the molecular diagnostic company announced it had acquired its first North American customer, Boston Medical Center. GSS will supply the highly regarded hospital with reagents for SARS-CoV-2 detection kits over the next two years. The first order for $US227,000 ($300,000) has been received and will be invoiced this month.

– Warrego Energy (ASX:WGO) gained 7.1 per cent to 22.5c after its joint venture partner, Strike Energy (ASX:STX), announced it had hit gas at its West Erregulla 3 well in Western Australia. STX shares gained 3.6 per cent to 29c.

– City Chic Collective (ASX:CCX) gained 7.3 per cent to $3.84 after the plus-sized retailer announced it had completed its $41 million acquisition of the UK-based Evans brand from the Arcadia group.

– Bigtincan Holdings (ASX:BTH) dropped 3.6 per cent to $1.075 after the sales enablement platform announced it would buy ClearSlide, a sales engagement company, for $US16.25 million ($22.6 million). Bigtincan said also said was on track to achieve its FY21 guidance.