Top 10 at 11: ASX bounces back; ATV launches network cloud product
With demand for data centres climbing fast, some small caps are stepping into the cloud infrastructure gap. Pic: Getty Images.
Morning, and welcome to Stockhead’s Top 10 (at 11… ish), highlighting the movers and shakers on the ASX in early-doors trading.
With the market opening at 10am sharp eastern time, the data is taken at 10.15am in the east, once trading kicks off in earnest.
In brief, this is what the market has been up to this morning.
ASX rebounds from CBA hangover
The ASX is in fine form this morning, up a chipper 0.66% in the first hour after a dour day of profit taking yesterday.
Big losses in Commonwealth Bank (ASX:CBA), AGL Energy (ASX:AGL) and some of our premier mining stocks drove the market lower on Wednesday, but we’re seeing no signs of that today so far.
Of our 11 sectors, nine are on the up and one is dead flat, with just telecommunications sliding (-1.39%).
The utilities sector is striding powerfully in the other direction, up almost 4% with some solid foundational support from our Banks (+1.1%), Gold (+0.89%) and Tech (+1.05%) indices.
As for commodities, oil prices slid again overnight to fall to a more than two-month low at US$65.63 a barrel of Brent, recovering only marginally this morning.
Gold futures moved in the other direction, adding 0.3% to US$3408.30 an ounce, still hovering in a tight band between US$3300 and US$3450. Spot gold is trading at about US$3371 per ounce.
Things are looking fairly quiet on the small cap movers front in terms of announcements today, perhaps a sign market fundamentals are driving growth just as much as company news this morning.
SMALL CAP WINNERS
| Code | Name | Last | % Change | Volume | Market Cap |
|---|---|---|---|---|---|
| GGE | Grand Gulf Energy | 0.002 | 100% | 800584 | $2,820,425 |
| BPP | Babylon Pump & Power | 0.007 | 40% | 7620771 | $19,034,455 |
| MGTRG | Magnetite Mines | 0.007 | 40% | 259119 | $204,263 |
| CR9 | Corellares | 0.004 | 33% | 750000 | $3,021,809 |
| TYX | Tyranna Res Ltd | 0.004 | 33% | 250000 | $10,026,464 |
| FRB | Firebird Metals | 0.18 | 29% | 650077 | $19,930,596 |
| OD6 | Od6Metalsltd | 0.086 | 26% | 6409968 | $10,911,821 |
| ATV | Activeport Group Ltd | 0.012 | 26% | 9876084 | $6,526,282 |
| DTM | Dart Mining NL | 0.0025 | 25% | 550000 | $2,396,111 |
| KNG | Kingsland Minerals | 0.175 | 21% | 164868 | $10,521,332 |
In the news…
Activeport (ASX:ATV) has secured three private cloud hosts for its newly launched fibre-based network-as-a-service product, Private-Cloud Connect.
Available from this month, the product is designed to offer high speed data communication ports, connecting branch offices to private cloud services hosted in colocation data centres.
With demand for data centre capacity ramping up sharply alongside demand for AI applications, ATV is positioning itself to provide the network services necessary to support the emerging technologies.
SMALL CAP LAGGARDS
| Code | Name | Last | % Change | Volume | Market Cap |
|---|---|---|---|---|---|
| HLX | Helix Resources | 0.001 | -40% | 5454451 | $5,606,765 |
| CZN | Corazon Ltd | 0.002 | -33% | 100500 | $3,703,717 |
| LMLR | Lincoln Minerals | 0.002 | -33% | 2642857 | $937,101 |
| SHP | South Harz Potash | 0.002 | -33% | 675 | $4,415,170 |
| AOA | Ausmon Resorces | 0.0015 | -25% | 270339 | $2,622,427 |
| ECT | Env Clean Tech Ltd. | 0.003 | -25% | 38353 | $16,061,742 |
| PKO | Peako Limited | 0.003 | -25% | 10500000 | $5,950,968 |
| SFG | Seafarms Group Ltd | 0.0015 | -25% | 8132 | $9,673,198 |
| 1AD | Adalta Limited | 0.002 | -20% | 102173 | $2,886,625 |
| EMT | Emetals Limited | 0.005 | -17% | 120000 | $5,100,000 |
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
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