Closing Bell: ASX defies the odds to finish in positive territory

The ASX was set for another negative day if futures and Wall Street’s drop were any guide — but even with a bad start, Australia’s bourse finished in the green.

© Stockhead Australia Closing Bell: ASX defies the odds to finish in positive territory

The ASX 200 fell as much as 0.50% in the first few minutes of trade but closed 0.35% higher at 7,274 points.

The ASX Emerging Companies Index dropped 0.82% for the day, but even this was much better than its intraday lows of 2%.

Almost all sectors were in the green with only financials retreating – by 0.43%.

US futures are also in positive territory.

Investors in Australia were arguably soothed by ANZ/Roy Morgan Consumer confidence figures holding steady and the RBA’s September meeting minutes – in which it reaffirmed an interest rate hike was unlikely before 2024.

 

TODAY’S BIGGEST WINNERS

Scroll or swipe to reveal table. Click headings to sort.

Code Company Price % Volume
CCE Carnegie Cln Energy 0.003 50 6374505
BAS Bass Oil Ltd 0.002 33 116221044
IPT Impact Minerals 0.017 31 27212351
BBC Bnk Bank Corp Ltd 1.02 28 749511
YPB YPB Group Ltd 0.0025 25 1953009
JPR Jupiter Energy 0.049 23 1703570
CHZ Chesser Resources 0.14 22 1175416
EMP Emperor Energy Ltd 0.054 20 837790
RLC Reedy Lagoon Corp. 0.03 20 57431562
GED Golden Deeps 0.012 20 27237855
PNX PNX Metals Limited 0.007 17 185000
CRL Comet Resources 0.029 16 115931136
BDG Black Dragon Gold 0.06 15 116880
FAU First Au Ltd 0.015 15 8145808
ATU Atrum Coal Ltd 0.04 14 1918403
SPT Splitit 0.39 13 7753451
VN8 Vonex Limited. 0.135 13 6465670
AEV Avenira Limited 0.009 13 192427
CZR CZR Resources Ltd 0.009 13 3468250
IEC Intra Energy Corp 0.009 13 201111
A3D Aurora Labs Limited 0.14 12 1008171
FHS Freehill Mining Ltd. 0.028 12 327856
RCR Rincon 0.24 12 71121

The graphite from Comet Resources (ASX:CRL) ‘Springdale’ project in WA is perfect for use in lithium-ion batteries, test work shows.

Microcap oil play Bass Oil (ASX:BAS) received approval from the South Australian government for its acquisition of oil assets in the Cooper Basin.

BNK Bank (ASX:BNK) rose after hinting at some M&A activity, telling shareholders it received interest and was going to undertake a strategic review.

TODAY’S BIGGEST LOSERS

Scroll or swipe to reveal table. Click headings to sort.

Code Company Price % Volume
OAK Oakridge 0.001 -50 642479
GLE GLG Corp Ltd 0.25 -24 15000
MCM Mc Mining Ltd 0.125 -24 61862
HNR Hannans Ltd 0.03 -19 220690722
OXX Octanex Ltd 0.031 -18 565304
MRD Mount Ridley Mines 0.005 -17 21591375
TSC Twenty Seven Co. Ltd 0.005 -17 16508923
LDR Lode Resources 0.13 -16 13690
TTI Traffic Technologies 0.036 -14 383797
AUH Austchina Holdings 0.006 -14 3157004
GMR Golden Rim Resources 0.006 -14 500000
SNS Sensen Networks Ltd 0.12 -14 205423
RML Resolution Minerals 0.019 -14 2993553
WSR Westar Resources 0.165 -13 164357
ADX ADX Energy Ltd 0.007 -13 47706745
DLC Delecta Limited 0.014 -13 79451358
RAG Ragnar Metals Ltd 0.035 -13 2360634
AFR African Energy Res 0.029 -12 2444436
ADO Anteotech Ltd 0.255 -12 7743406
AMT Allegra Orthopaedics 0.22 -12 11500
ATX Amplia Therapeutics 0.185 -12 392114
GTE Great Western Exp. 0.185 -12 69000
HMI Hiremii 0.097 -12 10000

 

ANNOUNCEMENTS YOU MAY’VE MISSED

Kangaroo Island Plantation Timbers (ASX:KPT) said the $15m transport assistance program announced by the South Australian government for transporting softwood from bushfire ravaged Kangaroo Island might help. The company previously said the jury was out on any salvage harvest opportunity.

NIB (ASX:NHF) and Honeysuckle Health were authorised to form and operate a health services buying group. It was granted only for 5 years – rather than the 10 sought – and on condition that WA’s other major insurers would not be allowed to join the group.

IGO (ASX:IGO) confirmed to shareholders it was seeking to acquire base metals miner Western Areas (ASX:WSA). While the AFR reported IGO had 4 weeks to make a binding offer, IGO told shareholders discussions were at an early stage and there was no guarantee a deal would eventuate.

Dairy company Clover Corp (ASX:CLV) released its FY21 results today and like its peers struggled with market conditions especially in relation to China. It’s profit more than halved shrinking from $12.5 million to $6 million and its revenue fell from $88.2 million to $60.5 million.

Just a day since energy network operator AusNet (ASX:AST) got a $9b+ takeover bid from Brookfield, APA Group (ASX:APA) put forward an offer of its own, at $2.60 per share which is higher than Brookfield’s $2.50 per share offer. The company said it was disappointed AusNet was not in a period of exclusivity with Brookfield and asserted its offer was superior from a cash perspective but also the quality of the eventual merged entity.

Canyon Resources (ASX:CAY) held a general meeting at which its shareholders ratified a recent $6.2 million placement of shares. Shareholders approved the deal which included a chip-in from director Peter Su.

And less than a week since Stake launched its ASX offering, it gave a picture of just how in demand its low-cost brokerage ($3 per share) was with investors. It said over 35,000 people have registered on its waitlist and it says it is growing quickly.

 

TRADING HALTS

Wednesday

Culpeo Minerals (ASX:CPO) – price and volume query

Kogi Iron (ASX:KFE) – acquisition and capital raising

GWR Group (ASX:GWR) – material update to operations

Arcadia Minerals (ASX:AM7) – JORC resource

Hillgrove Resources (ASX:HGO) – capital raising

Sipa Resources (ASX:SRI) – capital raising

Blue Energy (ASX:BLU) – capital raising

Norwest Energy (ASX:NWE) – wireline log analysis results

Lake Resources (ASX:LKE) – technology agreement

Healthia (ASX:HLA) – capital raising

Thursday

AusNet Services (ASX:AST) – response to APA announcement

TransUrban (ASX:TCL) – capital raising

Metals Australia (ASX:MLS) – capital raising

Technology Metals Australia (ASX:TMT) – capital raising

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