ASX October winners: The 50 best ASX stocks as Israel-Hamas escalation adds further pressure to fragile markets

The S&P ASX 200 fell -3.8% in October with mid-caps falling -6.94% and small-caps down -5.45% for the month
S&P ASX 200 Energy was the only sector that closed October in the black with all Australian equity factors in red
Dimerix surges after announcing it will receive $230m in payments following licensing deal with ADVANZ PHARMA

In what is a traditionally a stronger month heading towards the year end, October was anything but for the Australian bourse. Australian large caps plunged -3.8% for the month, with YTD gains now in negative territory at -0.21%.

Mid-caps and small-caps did even worse than the blue chips, with the S&P ASX MidCap 50 and the S&P ASX Small Ordinaries plunging 6.9% and 5.5%, respectively.

The S&P ASX Mid-Cap 50, the S&P ASX Small Ordinaries and the S&P ASX Emerging Companies index are now all in the red for 2023, according to S&P Dow Jones Indices.

Source: S&P Dow Jones Indices

Middle East conflict adds further pressure to fragile markets

It seems like global markets just can’t catch a break in 2023. With central banks hiking interest rates in response to sticky inflation there’s been fears of a global recession.

Continued war in Ukraine, concerns about a slowdown and lacklustre recovery post opening from prolonged Covid-19 lockdowns in the world’s second largest economy China have added further pressure to jittery markets.

And then taking Israel and much of the world by surprise on October 7 Hamas launched an attack from the Gaza strip onto bordering areas in the country.

Since then the world has been on tenterhooks as Israel vowed a response, with the conflict and associated humanitarian crisis intensifying throughout October.

Red Leaf Securities CEO John Athanasiou told Stockhead higher interest rates and poor performing markets mean investors are looking elsewhere in 2023.

“The combination of geopolitical instability and global inflation has made the equities unappealing,” he says.

“You can make 5% p.a. by leaving your cash at the bank.

“Not surprising equities have been struggling this year.”

Equity factors in red, energy only sector in black

All reported Australian equity factor indices closed in the red for October. Enhanced value was down the most, while dividend opportunities was the most successful in limiting losses in a tough month for markets.

Source: S&P Dow Jones Indices

Like September, the S&P/ASX 200 Energy was the only sector that closed October in the black. Information technology was the biggest laggard, followed by healthcare and industrials.

Source: S&P Dow Jones Indices

Fixed income also down in October, while ‘fear gauge’ climbs

Australian fixed income indices were also down in October, as they were in September after being big winners in August.

Source: S&P Dow Jones Indices

And with all the uncertainty Australian equity implied volatility increased in October. The S&P ASX 200 VIX Index , known as the ”fear gauge’ closed October at 14, which is two points above its level at the end of September.

Here are the 50 best performing ASX stocks for October:

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

CODE COMPANY LAST SHARE PRICE SEPTEMBER RETURN % MARKET CAP HAL Halo Technologies 0.215 258% $25,251,567 TG6 TG Metals 0.33 251% $14,911,570 DXB Dimerix Ltd 0.18 195% $72,005,979 DCN Dacian Gold Ltd 0.28 167% $352,872,272 FIN FIN Resources Ltd 0.031 158% $17,388,990 NOX Noxopharm Limited 0.1 156% $29,223,795 DTC Damstra Holdings 0.245 145% $60,602,292 WCG Webcentral Ltd 0.265 112% $90,509,713 EGR Ecograf Limited 0.23 109% $95,044,294 BNR Bulletin Res Ltd 0.16 103% $46,974,576 KRR King River Resources 0.019 100% $26,409,924 IND Industrial Minerals 0.96 96% $64,380,000 SUH Southern Hemisphere Mining 0.046 92% $26,572,784 B4P Beforepay Group 0.63 73% $17,599,099 PIM Pinnacle Minerals 0.145 71% $3,964,125 TIE Tietto Minerals 0.56 67% $637,145,105 TOY Toys R Us 0.015 67% $10,807,099 WA1 WA1 Resources 8.49 65% $362,310,444 BPH BPH Energy Ltd 0.029 61% $31,784,033 WC8 Wildcat Resources 0.705 58% $895,130,574 BAT Battery Minerals Ltd 0.047 57% $5,262,598 IVZ Invictus Energy Ltd 0.235 57% $322,443,378 VN8 Vonex Limited 0.02 54% $6,512,915 BMR Ballymore Resources 0.13 53% $19,005,644 FND Findi Limited 0.67 52% $22,852,339 RVS Revasum 0.175 52% $18,535,414 STK Strickland Metals 0.105 52% $160,114,610 TNY Tinybeans Group Ltd 0.19 52% $15,510,140 BLG Bluglass Limited 0.059 51% $90,154,694 BOC Bougainville Copper 0.46 51% $176,467,500 AXP AXP Energy Ltd 0.0015 50% $8,737,021 BUY Bounty Oil & Gas NL 0.009 50% $12,334,509 CT1 Constellation Tech 0.003 50% $4,413,601 CZN Corazon Ltd 0.018 50% $11,080,762 MTL Mantle Minerals Ltd 0.003 50% $18,442,338 RIM Rimfire Pacific 0.009 50% $18,947,203 AX8 Accelerate Resources 0.037 48% $20,970,099 AWJ Auric Mining 0.062 48% $7,720,716 AMA AMA Group Limited 0.062 48% $113,427,142 BIT Biotron Limited 0.1 47% $84,802,528 GRV Greenvale Energy Ltd 0.11 47% $47,603,297 LPI Lithium Power International 0.525 46% $330,349,719 ZAG Zuleika Gold Ltd 0.016 45% $7,845,759 OBM Ora Banda Mining Ltd 0.16 45% $272,871,179 XTE Xtek Limited 0.465 45% $44,775,149 BTC BTC Health Ltd 0.058 45% $17,826,782 CI1 Credit Intelligence 0.21 45% $18,049,268 FGR First Graphene Ltd 0.078 44% $47,639,682 FL1 First Lithium Ltd 0.35 43% $25,568,858 TPC TPC Consolidated Ltd 7.5 43% $87,793,713

WordPress Tables Plugin

Topping the winners list in October was HALO Technologies (ASX:HAL) on no real news. The stock was up more than 200% when the ASX issued the company with a please explain.

“It has come to our attention that Pitt Street Research has issued an equities research report. For transparency, HALO has not commissioned the report,” HAL responded on October 25.

TG Metals (ASX:TG6) was up after announcing first drill holes into the Burmeister lithium soil anomaly within the Lake Johnson Project intersected high grade mineralisation up to 2.28% Li2O.

Dimerix (ASX:DXB) surged after announcing it will receive $230m in upfront and milestone payments following a licensing deal with ADVANZ PHARMA to commercialise DMX-200 for treatment of rare kidney disease focal segmental glomerulosclerosis (FSGS).

Dacian Gold (ASX:DCN) after Raleigh Finlayson’s $1.47b market capped gold miner Genesis Minerals (ASX:GMD) put together an off-market takeover bid for the remaining worth of DCN shares it didn’t already own. By October 30 GMD had acquired a relevant interest in 1,157,212,857 DCN shares and has voting power of 95.1%.

Here are the 50 worst performing ASX stocks for October:

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

CODE COMPANY LAST SHARE PRICE SEPTEMBER RETURN % MARKET CAP C1X Cosmos Exploration 0.115 -69% $5,114,625 AMD Arrow Minerals 0.001 -60% $6,047,530 KZA Kazia Therapeutics 0.07 -58% $18,907,950 INL Innlanz Limited 0.011 -54% $3,445,900 NXS Next Science Limited 0.2 -54% $49,181,155 AHN Athena Resources 0.003 -50% $4,281,870 AVM Advance Metals Ltd 0.003 -50% $1,765,676 BP8 BPH Global Ltd 0.001 -50% $1,615,563 GSM Golden State Mining 0.018 -50% $3,630,677 ICN Icon Energy Limited 0.005 -50% $5,376,096 MXCDA MGC Pharmaceuticals 0.001 -50% $4,427,969 RGS Regeneus Ltd 0.004 -50% $1,532,185 RB6 Rubix Resources 0.13 -48% $7,364,250 RHY Rhythm Biosciences 0.185 -46% $38,699,953 WOA Wide Open Agriculture 0.175 -46% $30,281,915 ME1 Melodiol Global Health 0.003 -45% $11,427,311 S3N Sensore Ltd 0.115 -45% $4,185,222 TOR Torque Metals 0.195 -43% $25,341,752 TMB Tambourah Metals 0.115 -43% $9,538,141 DAL Dalaroo Metals 0.03 -42% $2,448,000 TMR Tempus Resources Ltd 0.015 -42% $5,658,226 NMT Neometals Ltd 0.215 -42% $127,260,826 JAN Janison Education Group 0.24 -41% $60,578,647 1AE Aurora Energy Metals 0.094 -41% $15,124,658 AKN Auking Mining Ltd 0.038 -41% $8,572,356 MTM MTM Critical Metals 0.022 -41% $2,284,753 EMU EMU NL 0.0015 -40% $1,667,521 G88 Golden Mile Res Ltd 0.018 -40% $5,599,622 LVT Livetiles Limited 0.006 -40% $7,062,664 ZEU Zeus Resources Ltd 0.009 -40% $4,133,529 KNO Knosys Limited 0.025 -39% $7,780,993 XPN Xpon Technologies 0.033 -39% $6,341,101 TMK TMK Energy Limited 0.008 -38% $40,244,634 MAP Microba Life Sciences 0.21 -38% $81,212,722 INR Ioneer Ltd 0.14 -38% $316,653,948 CCP Credit Corp Group 12.07 -38% $820,205,615 KPO Kalina Power Limited 0.005 -38% $6,060,783 AVH Avita Medical 2.88 -37% $175,343,820 LLI Loyal Lithium Ltd 0.415 -37% $35,825,292 TYR Tyro Payments 0.86 -37% $446,530,964 CR1 Constellation Res 0.105 -36% $5,240,070 GTR Gti Energy Ltd 0.007 -36% $15,374,603 ODE Odessa Minerals Ltd 0.008 -36% $7,576,895 DY6 DY6 Metals 0.087 -36% $3,432,062 OCN Oceana Lithium 0.145 -36% $7,165,328 BMM Balkan Mining and Minerals 0.13 -35% $8,600,897 REC Recharge Metals 0.13 -35% $12,248,717 3DP Pointerra Limited 0.058 -35% $64,960,858 RFT Rectifier Technologies 0.032 -35% $49,751,422 M2R Miramar 0.023 -34% $3,870,608

WordPress Tables Plugin

Oncology-focused drug development company Kazia Therapeutics (ASX:KZA) announced its intention to de-list from the ASX, saying its board ultimately determined that the costs, administrative burden and commercial disadvantages of remaining listed on the bourse outweigh any benefits.

Several resources stocks were also down in October with lithium junior Cosmos Exploration (ASX:C1X) topping the list.

CX1 released its quarterly update in October but also provided positive updates on its exploration activities at its prospective Corvette Far East Lithium project and Lasalle project, in the prolific James Bay district in Quebec, Canada.

At Stockhead, we tell it like it is. While Dimerix is a Stockhead advertiser, it did not sponsor this article.</em

The post ASX October winners: The 50 best ASX stocks as Israel-Hamas escalation adds further pressure to fragile markets appeared first on Stockhead.