ASX 200 has finished the week around 1 per cent lower, with investors steering away from tech and growth stocks.

Seven out of the 11 sectors dropped, with Technology being the biggest drag, falling by more than 6 per cent.

Investors have mainly shunned tech and growth stocks in favour of cyclicals this week, after US CPI rose by 0.8% in April, its highest since 2009 and topping estimates.

But the health care sector was boosted by this week’s Federal Budget, with the government investing a record $503 billion over the next four years into the health of Australians.

That figure includes measures to mitigate the pandemic such as vaccine rollouts, as well as a$17.7 billion spend on aged care.

The biotech sector also scored a win, after the Budget announcement of a “patent box” – a concessional tax incentive scheme of 17 per cent aimed at the biotech sector that encourages the development of patented products here in Australia.

Meanwhile, the Commonwealth Bank (ASX:CBA) has hit its all time high on intraday today, trading as high as $97.38. The bank’s shares have risen by 3 per cent this week, in a clear indication that investors are rotating towards cyclical stocks.
 

ASX SMALL CAP WINNERS

Here are the best performing ASX small cap stocks for May 10-14 [intraday]:

Swipe or scroll to reveal full table. Click headings to sort:

Code Company Price ReturnWRoll% MktCap$
MDX Mindax Limited 0.16 5150 $ 2,961,836.33
CAP Carpentaria Resource 0.1 156 $ 30,410,310.96
HLX Helix Resources 0.031 138 $ 33,917,717.77
AGE Alligator Energy 0.033 74 $ 77,952,216.80
TLM Talisman Mining 0.24 66 $ 43,857,670.48
AIS Aeris Resources Ltd 0.16 62 $ 278,318,391.39
IKW Ikwezi Mining Ltd 0.29 61 $ 11,788,492.46
APD Apn Property Group 0.9 54 $ 296,593,238.70
PBX Pacific Bauxite Ltd 0.003 50 $ 1,189,842.10
ANL Amani Gold Ltd 0.0015 50 $ 21,573,993.49
WHK Whitehawk Limited 0.22 47 $ 45,414,908.40
ICN Icon Energy Limited 0.024 41 $ 14,342,566.51
TER Terracom Ltd 0.14 40 $ 113,041,144.50
VPR Volt Power Group 0.004 33 $ 27,508,600.67
MSR Manas Res Ltd 0.008 33 $ 19,321,915.19
KEY KEY Petroleum 0.004 33 $ 7,871,712.50
OEQ Orion Equities 0.25 32 $ 4,453,597.25
PVL Powerhouse Ven Ltd 0.19 31 $ 14,691,482.72
EFE Eastern Iron 0.013 30 $ 6,111,854.34
ICE Icetana Limited 0.11 29 $ 11,296,243.75
SVM Sovereign Metals 0.73 28 $ 287,895,104.90
MSI Multistack Internat. 0.064 28 $ 6,064,411.90
CPN Caspin Resources 0.865 27 $ 53,464,010.58
RBD Restaurant Brands NZ 11.01 25 $ 1,373,591,338.23
TMH The Market Herald 0.6 25 $ 104,759,939.35
PF1 Pathfinder Resources 0.275 25 $ 13,425,531.30
SER Strategic Energy 0.062 24 $ 12,120,468.03
DEV Devex Resources Ltd 0.295 23 $ 80,556,344.40
KKO Kinetiko Energy Ltd 0.135 23 $ 76,462,191.65
NWM Norwest Minerals 0.1 22 $ 10,557,497.36
MGT Magnetite Mines 0.067 22 $ 184,585,027.84
YRL Yandal Resources 0.67 22 $ 64,489,539.42
BLZ Blaze International 0.04 21 $ 10,237,500.00
VRC Volt Resources Ltd 0.029 21 $ 61,888,530.63
AME Alto Metals Limited 0.105 21 $ 54,031,168.20
ORR Orecorp Ltd 0.76 21 $ 243,313,535.64

Mindax (ASX:MDX) +3.200%

Junior explorer Mindax has experienced a fairytale comeback today, after its shares were suspended in 2019 due to exchange violations. After trading recommenced, it surged by more than 3,000% right off the bat, at one point even surpassing 6,000%.

The explorer has recently tapped investors for $2.08m through an entitlement offer while its shares were suspended. The cash will be used to fund its Mount Forrest Iron Project and Meekathara Gold Project.

Carpentaria Resources (ASX:CAP) +156%

The mineral explorer has gained since announcing on Wednesday that it has resolved a legal dispute with partner Pure Metals (PM). The disagreement was around PM’s obligations on a sale and purchase deal struck in November 2020.

The matter was resolved, and will lead to the completion of a new deal under which Carpentaria will acquire PM’s 24.149% of the Hawsons Iron Project. In return, Carpentaria will issue to PM 90.8 million Carpentaria shares.

Alligator Energy (ASX:AGE) +74%

The uranium and cobalt-nickel explorer’s share price almost doubled this week, after the company took steps to become a fully-fledged uranium producer.

This week, Alligator announced a strategic agreement with global commodities trader, Traxys.

Under the deal, Traxys will provide a full scope of work for Alligator’s uranium project, which includes marketing services on future uranium production, long term off-take contracting, and project development financing of up to $15m.

 

ASX SMALL CAP LOSERS

Here are the worst performing ASX small cap stocks for May 10-14 [intraday]:

Swipe or scroll to reveal full table. Click headings to sort:

Code Company Price ReturnWRoll% MktCap$
UUV UUV Aquabotix Ltd 0.001 -50 $ 2,388,374.81
WKT Walkabout Resources 0.185 -43 $ 69,826,729.00
ABR American Pacific 1.37 -42 $ 550,134,874.35
MCX Mariner Corp Ltd 0.055 -39 $ 2,642,927.21
LIO Lion Energy Limited 0.061 -38 $ 14,310,107.40
CUL Cullen Resources 0.022 -33 $ 10,469,694.40
TOM Tomizone Limited 0.002 -33 $ 850,401.35
M2R Miramar 0.18 -32 $ 7,600,953.60
PGM Platina Resources 0.062 -31 $ 24,339,496.59
GES Genesis Resources 0.009 -31 $ 7,045,571.65
OVN Oventus Medical Ltd 0.115 -30 $ 19,782,802.13
FPL Fremont Petroleum 0.0035 -30 $ 23,392,562.60
BLY Boart Longyear 0.39 -27 $ 33,634,484.00
PRN Perenti Global Ltd 0.73 -27 $ 485,963,702.49
OXX Octanex Ltd 0.041 -27 $ 10,570,777.44
BPM BPM Minerals 0.2 -26 $ 4,826,250.00
CLZ Classic Min Ltd 0.0015 -25 $ 35,114,382.70
ECT Env Clean Tech Ltd. 0.0015 -25 $ 11,584,624.95
GGX Gas2Grid Limited 0.003 -25 $ 7,005,428.64
PCH Property Connect 0.0015 -25 $ 1,028,795.21
PRM Prominence Energy NL 0.012 -25 $ 7,258,293.43
NGY Nuenergy Gas Ltd 0.03 -25 $ 44,428,664.91
NKL Nickelxltd 0.15 -25 $ 8,292,500.00
PTR Petratherm Ltd 0.06 -25 $ 11,935,068.36
AHI Adv Human Imag Ltd 1.13 -25 $ 143,180,664.90
EM1 Emerge Gaming Ltd 0.025 -24 $ 28,030,872.00
ASN Anson Resources Ltd 0.053 -23 $ 43,803,924.46
DTZ Dotz Nano Ltd 0.265 -23 $ 107,338,448.43
GTE Great Western Exp. 0.15 -23 $ 23,153,670.37
CAE Cannindah Resources 0.062 -23 $ 32,170,682.82
KNM Kneomedia Limited 0.007 -22 $ 7,905,973.28
TEG Triangle Energy Ltd 0.028 -22 $ 17,381,377.47
DW8 Digital Wine Venture 0.105 -22 $ 159,992,871.07
DM1 Desert Metals 0.44 -22 $ 16,975,000.00
A2M The A2 Milk Company 5.61 -22 $ 4,059,022,913.40

BNPL stocks were battered this week, mainly on inflation concerns and what it meant for the valuation of growth stocks like BNPL if interest rates rise.

LayBuy (ASX:LBY) dropped 20 per cent, while Splitit (ASX:SPT) fell by 16 per cent for the week.

Investors are concerned that higher rates arising from higher inflation might prompt a revaluation of high-growth and profit-less stocks downwards.