Market Highlights and 5 ASX Small Caps to watch on Monday
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All three US stock market indexes bounced back on Friday, ahead of this week’s Jackson Hole Economic Policy Symposium, a virtual meeting of world central banks leaders held between 26-28 August.
The Dow Jones rose by 0.65%, S&P500 by 0.81%, and tech heavy Nasdaq by 1.19%.
The oil price has continued its recent losses, falling by another 2%% on Friday on global demand concerns. Brent crude is now trading at US$65.18/barrel.
Meanwhile, the crypto market is surging and Bitcoin rallied to US$48,900 level at 8:00am AEST, from the US$46,500 level on Friday.
Cardano has become the biggest crypto to recover from the May 20 crash, with the No. 3 crypto surging nearly 20 per cent to a new all-time high.
The ASX 200 looks set to open higher his morning, with futures markets (September contracts) pointing down up 0.18% at 8:30am AEST.
On Friday, the Aussie benchmark index closed 0.05% lower, but lost 2.2% for the week. The ASX Emerging Companies Index also lost 5% for the week.
The medical software tech company announced that SOZO has received a US FDA Breakthrough Device Designation for renal failure. SOZO is a bioimpedance spectroscopy (BIS) platform that provides an exact measure of fluid volume to remove during a dialysis session.
Prospa Group (ASX:PGL)
The fintech lender reported record quarter originations of $183m, which is an all-time record for the company. PGL generated an EBITDA of $0.4m for the full year, which is a significant improvement from the $15.8m loss in FY20.
The medtech company recorded $8.5m in total revenues for the half, up by 47% on the previous corresponding period (pcp). CYC has maintained its interim dividend at 0.5c a share.
McGrath Ltd (ASX:MEA)
The real estate services company announced $122.4m in full year revenues, up by 34% on pcp. McGrath also reported a bottom line full year NPAT of $19m, up from $0.7m in the pcp.
MACA Ltd (ASX:MLD)
The mining services company reported a 45% increase in full year revenue to $1.175b, a record for the firm, for an underlying NPAT of $38.8m. MACA also expects FY22 to be even better with a forecast revenue of $1.4b.