Your Tasty Macros
The benchmark ASX 200 has finished the week up 1.3%, thanks to a particularly robust day of trade on Thursday. A nice recovery from last week’s depressing effort.
The XJO has now gained almost 10% over the last half year of trade…
The Reserve Bank kept interest rates on hold, once again, as expected. The US Fed also kept rates on hold.
In its March Financial Stability Review the RBA acknowledges that financial market participants “have been increasingly optimistic about the prospects for a soft landing in the global economy”.
“A substantial easing cycle in monetary policy is expected over the next two years or so, with inflation returning to central banks’ targets and unemployment rising only modestly,” he says.
Nice. Interest rates cuts as soon as June could be great for stocks, gold, and cash-strapped homeowners.
But then it goes and runs a disheartening scenario like this:
In a scenario analysis, the RBA found that most mortgagors and larger businesses would still be able to service debts if interest rates were to increase by another 50 basis points from the current 12-year high of 4.35%.#ausecon #auspol @CommSec https://t.co/NdzpXGaA8a
— CommSec (@CommSec) March 22, 2024
… so, who knows. The jobless rate in February also evaporated to a surprise 3.7%, adding 116,500 jobs, which makes the argument for faster rate cuts at home harder.
Almost all the forecasts were grossly inadequate (CommSec had guessimated the creation of 45,000 jobs and a 4% jobless rate).
In the US, stocks hit another record high. Social media stock Reddit also listed on the NYSE following a ~US$6.5bn IPO and gained 48% on debut.
Capturing the moment #RDDT
byu/Timely-Block4814 inwallstreetbets
This week, gold smashed though record highs above US$2200/oz before paring some gains.
After punching though US$70k last week, Bitcoin rode the rollercoaster to a mid-week low of ~US$60k and back up to US$66.5k by COB Friday.
ASX Small Cap Winners This Week
Swipe or scroll to reveal full table. Click headings to sort:
Code Company Price % Week Market Cap ZNO Zoono Group Ltd 0.115 135% $17,094,192 ICU Investor Centre Ltd 0.027 93% $8,186,347 ASP Aspermont Limited 0.017 89% $39,290,155 TGN Tungsten Min NL 0.1 59% $78,641,427 ADX ADX Energy Ltd 0.1825 59% $70,757,461 G50 Gold50 Limited 0.145 51% $10,929,000 5GG Pentanet 0.075 50% $30,645,631 ADS Adslot Ltd 0.003 50% $9,673,487 BNZ Benz Mining 0.195 50% $17,804,476 SIH Sihayo Gold Limited 0.0015 50% $18,306,384 SRX Sierra Rutile 0.11 47% $44,544,827 TTT Titomic Limited 0.048 45% $46,549,827 HXG Hexagon Energy 0.023 44% $11,797,066 XAM Xanadu Mines Ltd 0.061 42% $113,256,397 AVD Avada Group Limited 0.7 40% $53,933,741 BCT Bluechiip Limited 0.009 38% $8,806,134 8IH 8I Holdings Ltd 0.011 38% $3,930,916 BYH Bryah Resources Ltd 0.011 38% $4,354,535 ENX Enegex Limited 0.026 37% $7,009,404 ASV Asset Vision Co 0.015 36% $10,887,548 B4P Beforepay Group 0.795 36% $36,433,613 PIL Peppermint Innovation 0.019 36% $38,094,450 WTM Waratah Minerals Ltd 0.088 35% $12,845,347 LRD Lord Resources 0.069 35% $2,450,720 NFL Norfolk Metals 0.155 35% $5,143,046 BKT Black Rock Mining 0.083 34% $94,382,627 1AG Alterra Limited 0.004 33% $3,482,763 CT1 Constellation Tech 0.002 33% $2,212,101 LSR Lodestar Minerals 0.002 33% $4,046,795 MTL Mantle Minerals Ltd 0.002 33% $12,394,892 RIL Redivium Limited 0.004 33% $13,654,274 SFG Seafarms Group Ltd 0.004 33% $19,346,397 SRY Story-I Limited 0.004 33% $1,505,619 TKL Traka Resources 0.002 33% $3,501,317 UBI Universal Biosensors 0.205 32% $46,721,276 NGY Nuenergy Gas Ltd 0.029 32% $42,947,709 BMN Bannerman Energy Ltd 3.68 31% $534,942,695 SCN Scorpion Minerals 0.038 31% $15,559,335 G11 G11 Resources Ltd 0.03 30% $21,724,541 NME Nex Metals Explorat 0.022 29% $7,755,716 NSM Northstaw 0.044 29% $6,154,534 MMM Marley Spoon Se 0.075 29% $8,829,330 SRL Sunrise 0.575 29% $53,685,361 ASM Ausstrat Materials 1.4 29% $239,346,494 APL Associate Global 0.09 29% $5,084,318 DMG Dragon Mountain Gold 0.009 29% $3,552,045 TSL Titanium Sands Ltd 0.009 29% $17,943,572 TGM Theta Gold Mines Ltd 0.16 28% $113,846,374 JMS Jupiter Mines 0.2225 27% $421,293,644 CCM Cadoux Limited 0.075 27% $25,684,231
ADX Energy (ASX:ADX) bagged after its Welchau-1 exploration well intersected 115m of condensate rich gas shows in the primary target formation.
Pentanet’s (ASX:5GG) run continues after the cloud gaming stock upgraded its Gen 3 cloud infrastructure with NVIDIA L40 GPUs, to bring Pentanet into the NVIDIA Graphics Delivery Network (GDN).
n 2023, NVIDA became the 7th public US company to be valued over one trillion dollars. It is currently the third most valuable company on the globe after Microsoft and Apple, with a market cap of US$2.21trn.
And shareholders of troubled Iluka (ASX:ILU) mineral sands spinout Sierra Rutile (ASX:SRX) have been thrown a lifeline in the form of an unsolicited takeover offer.
PRM Services wants to acquire all SRX shares it does not own at a price of A$0.095 cash per share, which represents a 21.79% premium to the closing price of SRX shares on 19 March.
ASX Small Cap Laggards This Week
Swipe or scroll to reveal full table. Click headings to sort:
Code Company Price % Week Market Cap CLZDC Classic Minerals 0.017 -66% $4,640,431 AXP AXP Energy Ltd 0.001 -50% $11,649,361 JAV Javelin Minerals Ltd 0.001 -50% $2,176,231 RWD Reward Minerals Ltd 0.029 -42% $5,924,182 OZM Ozaurum Resources 0.052 -37% $8,255,000 CLV Clover Corporation 0.545 -33% $96,859,618 BTN Butn Limited 0.085 -32% $15,556,581 AUZ Australian Mines Ltd 0.011 -31% $15,678,132 PLC Premier1 Lithium Ltd 0.029 -31% $5,062,649 NGS NGS Ltd 0.009 -31% $2,512,274 SHP South Harz Potash 0.018 -31% $15,306,019 NIM Nimyresourceslimited 0.048 -30% $7,021,180 IXU Ixup Limited 0.017 -29% $21,750,712 NTM NT Minerals 0.005 -29% $4,299,515 SHG Singular Health 0.1 -29% $21,488,836 ENV Enova Mining Limited 0.028 -28% $19,853,284 PPY Papyrus Australia 0.013 -28% $6,405,004 AGY Argosy Minerals Ltd 0.1375 -28% $203,639,087 JPR Jupiter Energy 0.016 -27% $20,378,435 APX Appen Limited 0.5875 -27% $133,908,589 OLH Oldfields Holdings 0.081 -26% $16,180,232 BM8 Battery Age Minerals 0.1 -26% $9,634,833 EQN Equinox Resources 0.195 -25% $20,235,001 LVH Livehire Limited 0.024 -25% $10,622,860 WFL Wellfully Limited 0.003 -25% $1,478,832 BEX Bikeexchange Ltd 0.32 -25% $6,523,406 CAI Calidus Resources 0.125 -24% $101,086,600 SYR Syrah Resources 0.525 -24% $434,339,082 S66 Star Combo 0.115 -23% $16,209,958 1TT Thrive Tribe Tech 0.02 -23% $6,822,295 BMG BMG Resources Ltd 0.01 -23% $6,337,972 ARU Arafura Rare Earths 0.2 -23% $473,611,949 SNX Sierra Nevada Gold 0.062 -23% $3,744,539 BCB Bowen Coal Limited 0.045 -22% $133,668,258 AS2 Askari Metals 0.066 -22% $6,685,368 C7A Clara Resources 0.014 -22% $2,835,586 OMX Orange Minerals 0.021 -22% $1,800,754 JRV Jervois Global Ltd 0.025 -22% $64,860,496 TYX Tyranna Res Ltd 0.009 -22% $36,161,679 JAY Jayride Group 0.011 -21% $2,599,400 CG1 Carbonxt Group 0.074 -21% $24,044,202 NMT Neometals Ltd 0.15 -21% $96,535,599 SPQ Superior Resources 0.0095 -21% $18,010,984 NVO Novo Resources Corp 0.135 -21% $11,846,861 AEE Aura Energy 0.175 -20% $106,767,593 LKE Lake Resources 0.067 -20% $112,999,995 AU1 The Agency Group Aus 0.028 -20% $12,000,144 CTQ Careteq Limited 0.016 -20% $3,533,209 CZN Corazon Ltd 0.008 -20% $5,540,381 ETR Entyr Limited 0.008 -20% $17,847,935
Trading Halts
Arovella Therapeutics (ASX:ALA) – Regarding a capital raise
Many Peaks Gold (ASX:MPG) – Regarding some its continuous disclosure challenges
OD6 Metals (ASX:OD6) – Regarding a capital raise
Coda Minerals (ASX:COD) – Regarding a capital raise
The post ASX Small Caps and IPO Weekly Wrap: In which the RBA ruins a week perfectly capable of ruining itself appeared first on Stockhead.
