Market highlights and the ASX small caps with big news today

Overseas Markets Highlights

The Dow Jones index hit fresh record highs again, rising by 90 points or 0.29%. Big tech were weighed down, with Apple down 1.8 per cent and Paypal 2.5 per cent – dragging the Nasdaq Composite lower by 0.6 per cent.

Oil prices were kept in check despite the ongoing crisis in the US, with Brent Crude trading higher by just 0.8% to US$63.86/barrel.

Spot iron ore flat at US$ 166.88/t

Bitcoin tops US$52,000

Bitcoin was trading at US$52,384 at the time of of writing (8:28am AEDT), another record high. The rise signalled the crypto’s acceptance by major institutional investors with the likes of Tesla, Mastercard, and BNY Mellon now jumping on the bandwagon.

Closer to home

ASX shares are poised to open lower this morning, with NAB forecasting 40,000 fall in employment, and unemployment to rise to 7.8 per cent. The official January’s labour force data is set for 11.30am AEDT.

Star Entertainment reports 50 per cent fall in profits, Perepetual profits down 43 per cent, while CSL pays record dividends of $1.32 per share.

5 small caps to watch on the ASX this morning

Province Resources (ASX:PRL)

Shares in PRL are poised to open 17% higher this morning, after gaining 120% yesterday. The company announced yesterday the purchase of all the shares in Ozexco which holds seven exploration licences in the Gascoyne Region of Western Australia – considered to be prospective for salt, potash and mineral sands and for developing a renewable green hydrogen project.

EML Payments (ASX:EML)

Shrares in EML set to open 2% higher this morning after a 17% increase yesterday. The company announced record revenues of $95.3 million and EBITDA of $28.1 milllion yesterday. Processed transaction volume is also up 54% on pcp to $10.2 billion.

Fiji Kava (ASX:FIJ)

The medicinal company reported record revenues for a six-month period of $496,379, up 111% (1HFY20: $234,521). However it incurred a statutory net loss of $1,547,312, a 28% improvement from the prior corresponding period  (1HFY20: loss of $2,163,789)

Etherstack (ASX:ESK)
The company reports that its subsidiary, Etherstack Wireless Ltd, will provide Samsung with a US$1.2 million licence to its existing technology for the purposes of assisting integration of the joint solution aimed at the telecommunications carrier market.

Whispir (ASX:WSP)
For H1 FY21, the company reported annualised recurring revenue at $47.4 million, up from $36.7 million for the same period last year – a 29.2% increase. Half-yearly revenues increased 27.3% over the prior corresponding period to $23.1 million.