Closing Bell: ASX 200 rides Wall Street tailwinds as optimism rises

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  • The ASX200 is riding Wall Street’s coattails today up 044%
  • Nine out of eleven sectors were higher, with real estate leading the charge
  • Technology was a close second with the help of a unicorn takeover bid

Wall Street rallied on Friday and the ASX was up 0.44%, riding on those bullish tailwinds.

Optimism is back, especially in the tech sector which was one of the pack leaders today up 1.13% and also helped along by a boost from aerial imagery player Nearmap (ASX:NEA) which got a whopping $1billy takeover boost from Thoma Bravo – but more on that later.

Nine out of eleven sectors were higher but real estate got gold on the podium, up 1.71%. Communications was second up 1.13%, while the materials sector wasn’t far behind, up 0.82% with the aid of lithium stocks.

Pilbara Minerals (ASX:PLS)Allkem (ASX:AKE) and MinRes (ASX:MIN) were heavily in the green and Core Lithium (ASX:CXO) was up more than 10%.

Global oil prices fell by near 2% on Friday on expectations that supply disruptions in the US Gulf of Mexico would only be temporary – and the energy sector felt the weight today, down 0.79%.

TODAY’S BIGGEST SMALL CAP WINNERS

(Stocks highlighted in yellow rose after making announcements during the trading day).

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

Code Company Price % Volume Market Cap
JAV Javelin Minerals Ltd 0.0015 50% 2,858,050 $9,354,153
RAS Ragusa Minerals Ltd 0.205 46% 20,682,005 $17,603,062
SYN Synergia Energy Ltd 0.004 33% 440,002 $25,253,372
T3D 333D Limited 0.002 33% 255,000 $4,566,445
RDG Res Dev Group Ltd 0.065 27% 1,357,375 $147,140,930
NEA Nearmap Ltd 1.895 25% 15,425,911 $755,082,694
AHN Athena Resources 0.016 23% 6,903,869 $10,568,578
GED Golden Deeps 0.016 23% 19,239,062 $15,017,947
BUX Buxton Resources Ltd 0.11 22% 346,608 $13,124,618
AQC Auspaccoal Ltd 0.12 21% 42,936 $4,997,996
AM7 Arcadia Minerals 0.18 20% 238,145 $7,004,684
ARE Argonaut Resources 0.003 20% 1,252,986 $9,015,512
BAT Battery Minerals Ltd 0.006 20% 470,767 $14,626,212
OAU Ora Gold Limited 0.012 20% 516,255 $9,842,313
ODM Odin Metals Limited 0.024 20% 4,181,625 $9,326,887
WHK Whitehawk Limited 0.082 19% 704,892 $15,713,008
LCY Legacy Iron Ore 0.023 18% 2,213,927 $124,933,111
BCK Brockman Mining Ltd 0.033 18% 25,000 $259,846,500
TPD Talon Energy Ltd 0.165 18% 5,611,749 $60,991,371
MEG Megado Minerals Ltd 0.1 18% 487,351 $9,269,148
CNJ Conico Ltd 0.041 17% 35,203,214 $47,550,071
AYT Austin Metals Ltd 0.0105 17% 62,800 $9,142,872
MCE Matrix C & E Ltd 0.21 17% 965,543 $26,292,857
AXP AXP Energy Ltd 0.007 17% 22,859,258 $34,873,084
BUY Bounty Oil & Gas NL 0.007 17% 6,309,673 $8,223,006

Javelin Minerals (ASX:JAV) shot up 50% after updating its resource estimate at Coogee to 1.42Mt at 1.076g/t for 49,000oz — a 1400% increase in tonnage and a 350% increase in overall contained metal from the previous estimate.

“Javelin has now successfully identified new Coogee mineralisation which transitions from just gold to copper‐gold in the north within a broader copper‐gold system now having a strike length of over 1 km,” executive director Mathew Blake said.

“We have confidence that additional copper‐gold resources can be defined.”

And Nearmap (ASX:NEA) got a massive takeover bid by Thoma Bravo, a software investment firm, at $2.10 cash per share.

The company said the proposal implies a fully diluted equity valuation of approximately $1.05 billion for Nearmap, oh and and represents an 83% premium to the closing price of $1.15 on Tuesday 5 July 2022.

The board has determined the proposal to be credible and sufficient to initially grant non-exclusive due diligence access to Thoma Bravo.

 

TODAY’S BIGGEST SMALL CAP LOSERS

(Stocks highlighted in yellow fell after making announcements during the trading day).

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

Code Company Price % Volume Market Cap
IGN Ignite Ltd 0.071 -41% 2,809 $10,749,861
PAR Paradigm Bio. 1.44 -27% 2,032,885 $452,585,076
CLE Cyclone Metals 0.003 -25% 10,950,313 $24,466,948
IPB IPB Petroleum Ltd 0.0095 -21% 2,973,595 $4,442,258
KFE Kogi Iron Ltd 0.004 -20% 87,137 $8,087,889
VPR Volt Power Group 0.002 -20% 34,924,559 $23,361,334
XST Xstate Resources 0.002 -20% 1,914,279 $8,037,954
EMS Eastern Metals 0.14 -15% 85,955 $6,378,281
AJQ Armour Energy Ltd 0.006 -14% 2,434,931 $15,809,156
CTO Citigold Corp Ltd 0.006 -14% 207,667 $19,835,614
CLZ Classic Min Ltd 0.028 -13% 3,917,270 $6,618,521
EDE Eden Inv Ltd 0.007 -13% 1,641,461 $19,934,824
AIV Activex Limited 0.035 -13% 31,800 $8,648,103
PSC Prospect Res Ltd 0.105 -13% 6,909,414 $55,471,135
WMG Western Mines 0.14 -13% 1,313,669 $5,861,200
BKG Booktopia Group 0.29 -12% 268,215 $45,328,569
LDX Lumos Diagnostics 0.066 -12% 922,267 $15,742,983
EXL Elixinol Wellness 0.037 -12% 749,048 $13,283,154
SHN Sunshine Gold Ltd 0.03 -12% 1,951,905 $15,905,973
AHK Ark Mines Limited 0.275 -11% 12,609 $10,698,132
PEN Peninsula Energy Ltd 0.1775 -11% 8,936,224 $199,459,238
GTG Genetic Technologies 0.004 -11% 598,210 $41,552,843
RFR Rafaella Resources 0.025 -11% 288,881 $7,863,068
BPT Beach Energy Limited 1.66 -10% 35,439,085 $4,220,467,264
14D 1414 Degrees Limited 0.092 -10% 69,870 $20,703,509

ANNOUNCEMENTS YOU MAY’VE MISSED


MGC Pharmaceuticals (ASX:MXC)
has announced that its cleared a hurdle with its Epilepsy treatment, CannEpil, following a randomised, double blind, placebo controlled study investigating the effect of a 1mL dose of 20:1 cannabidiol (CBD) to delta 9-tetrahydrocannabinol (THC) on driving performance, sedation and mood.

The good news is that, after (we assume) getting a few volunteers together, and having a few of them take the medicine and then having everyone spend some time playing  Gran Turismo on the PlayStation, the results are that it’s been declared safe for post-treatment driving activities. Neato.

Meanwhile, TMK Energy (ASX:TMK) has some cleaning up to do, following a paperwork kerfuffle in the lead up to the 14 February 2022 acquisition of Telmen Energy and the associated capital raise.

TMK says there was an inadvertent error to lodge a cleansing notice prior to the events of 14 February, which have since had an impact on the subsequent issue of shares related to conversion of Performance Shares on 09 June and Performance Rights on 13 July, 2022.

The company is making an application to the Supreme Court of Western Australia, seeking orders on how to proceed, and until those orders are obtained, TMK remains in a trading halt.

 

TRADING HALTS 

Tennant Minerals (ASX:TMS) – Drilling results incoming

Antisense Therapeutics (ASX:ANP) – Announcement of outcomes of a Long COVID-19 strategic collaboration is on the way.

TMK Energy (ASX:TMK) – Legal issues, which we’ve covered above, if you missed the “Things You May’ve Missed” section.

Genex Power (ASX:GNX) – Genex has asked for some time to prep requested info about a takeover offer from Skip Essential Infrastructure Fund.

Vortiv (ASX:VOR) – Vortiv has some information for investors about its expanding operations in India on the way.

Lode Resources (ASX:LDR) – Capital Raise.

Firebird Metals (ASX:FRB) – Capital Raise II, The Raisening.

BPH Energy (ASX:BPH) – Capital Raise III, The Capital Strikes Back.

Future Metals (ASX:FME) – Capital Raise IV, A Stan Original.

DW8 Limited (ASX:DW8) – Capital Raise V, Exclusive to YouTube.

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