Market Highlights and 5 ASX Small Caps to watch on Tuesday
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Wall Street was closed on Monday due to the extended Independence Day long weekend.
Chinese regulators ordered app stores in China to block ride-hailing Didi app from being downloaded, just less than a week after its mega IPO in the US.
China’s internet regulators cited “illegal collection of personal data” as the main reason for the ban. Didi’s shares dropped by 5% on Friday.
Meanwhile, ransomeware hackers, believed to be Russians, have demanded $90 million in Bitcoin from Kaseya after claiming they have compromised more than 1 million computers.
Kaseya is a software company that allows companies to remotely manage servers, desktops and mobiles , all from a central console.
In cryptos, Bitcoin is currently trading at US$34,00 level at 8am AEST, from the US$35,700 level on Monday.
The ASX200 is set to inch higher at the open this morning, with futures markets (September contracts) pointing up by 0.03 per cent at 8:30am AEST.
Yesterday, the index closed higher by 0.09 per cent, with industrials and energy the best performing sectors, gaining 4.93% and 2.03% respectively while the worst sector was tech, which lost 0.98%.
The RBA will meet today and make a decision on the next stage of its bond buying program. The central bank has already committed to two $100 billion rounds of quantitative easing.
The human resources tech company reported an $800,000 profit for the quarter, after unaudited sales increased by 140 per cent to $6.4 million. Cash flow has also strengthened during the quarter, with a surplus of $2.05 million.
The biotech company was granted FDA fast track designation to expedite the OPT-302 Phase 3 clinical program, and subsequent potential approval process. Opthea’s OPT-302 is currently being tested in combination with anti-VEGF- A therapy for the treatment of patients with neovascular (wet) age-related macular degeneration (AMD).
The wireless communications tech company reported a 76 per cent increase in H1 FY21 revenue to USD $4.2m, higher than its previous guidance predicting a range of between USD $3.5m to US$4.0m.
SRG Global (ASX:SRG)
The engineering company is expecting FY21 EBITDA to be at the top end of previous guidance of $45m – $47m. The company also said FY22 EBITDA is expected to be ~15% higher than FY21 EBITDA result.
The materials tech company has executed a MoU deal with with Tarmac, for co-development of a Calix calciner for lime production with CO2 capture, for a site to be determined in the UK. The project is framed around a two-phase approach to a Final Investment Decision (FID) on the plan, with commercial terms still to be agreed between the parties for on-going licensing of the technology.