\u00a0<\/p>\n
ASX 200, Small Ords and Emerging Co\u2019s indices all close -0.8% in the red<\/p>\n
Only the Energy Sector finds some green<\/strong> The Australian sharemarket dropped on Wednesday, dragged down by miners and information technology companies after a weaker session on Wall Street overnight.<\/p>\n The ASX 200 (XJO) was down 0.8% at the close of trade on Wednesday.<\/p>\n The ASX Small Ordinaries Index (XSO) also ended -0.8% lower, while the ASX Emerging Companies Index (XEC) lost only -0.75%.<\/p>\n All sectors traded in the red.<\/p>\n Except for Energy.<\/p>\n Cut out the other 10 sectors and it really was a terrific day of business. The Energy Gang rose nicely on the back of stonking oil prices, which rose above US$90 a barrel for the first time (in ages, maybe this year, I\u2019ll check with Bevis).<\/p>\n IT stocks ran away. Telco and Industrials gave back the 1.3% they\u2019d made on Monday.<\/p>\n Financials are a total drag.<\/p>\n Also the banking sector was having a tough day of it. Bad form here by the lads (and one or two) lasses at Macquarie Group (ASX:MQG)<\/a> which has hit reverse on its forward guidance.<\/p>\n Aussie Healthcare companies have also weighed on the ASX, after UBS drew out its big red pen and downgraded Resmed ResMed (ASX:RMD)<\/a> and blaming it squarely on the enormous success of the Danish drug maker Novo Nordisk and its fat-beating Ozempic weight loss drug family. UBS says the Danes and their wonder drugs could eat into demand for Resmed\u2019s sleep apnoea drugs.<\/p>\n One would think they might eat into company\u2019s like Collins Foods, but what do I know? Resmed was down heavily (around 3% last time I checked).<\/p>\n \u00a0<\/p>\n Via MarketIndex<\/p>\n \u00a0<\/p>\n Other random but interesting moments on Wednesday include the late mail on Vmoto (ASX:VMT)<\/a>, which is down about 4.5% after the market was unchuffed about its follow-through on a largely forgotten May announcement about acquiring some land in China.<\/p>\n Suddenly, here\u2019s the Aussie electric vehicle company announcing the construction of giant \u201cstate-of-the-art\u201d manufacturing facilities on the said recently acquired industrial land in beautiful Lishui Economic Development Zone in Nanjing, China.<\/p>\n Vmoto says it\u2019s now paid a total of RMB13.5 million ($2.9 million) from VMT\u2019s existing cash reserves, while construction of the new 32,856 m2 site at a cost of some $14 million is to be funded progressively via cash and debt, with completion scheduled for September 2024.<\/p>\n People don\u2019t like change. For my bit \u2013 on completion, Vmoto says its manufacturing footprint will go from from 30,121m2 to 62,977m2, doubling production capacity from circa 150,000 units p.a to as much as 300,000 units p.a.<\/p>\n Even better, the V-moto-version of a gigafactory is not only located close to Vmoto\u2019s existing manufacturing base in Nanjing \u2013 which is expected to create synergies, economies of scale and materially increased capacity to meet rising demand for VMT\u2019s product \u2013 but Nanjing\u2019s a port and places like India are buying up a lot of bikes. EV bikes.<\/p>\n As the ASX pulled stumps, US Futures were incredibly, preternaturally in a state of pure equivocation \u2013 except the Nasdaq, which was down almost -0.2% ahead of the New York open.<\/p>\n \u00a0<\/p>\n Via Fox<\/em><\/p>\n \u00a0<\/p>\n The Aussie economy grew by 0.4% over the June quarter, to be 2.1% higher through the year, the ABS has reported today.<\/p>\n \u2018GDP per capita\u2019, however, fell by 0.3%. And it did so for the third consecutive quarter. A strange reading I haven\u2019t paid any attention to, but which (I guess) implies the country\u2019s going forward, but individually we\u2019re almost in recession.<\/p>\n For the 2022\u201123 financial year, Aussie GDP grew by 3.4%<\/p>\n \u201cThis was the seventh straight rise in quarterly GDP, and annual growth remained above trend, reflecting the absence of significant COVID-19 disruptions, such as lockdowns, in 2022-23,\u201d Katherine Keenan, ABS head of national accounts said.<\/p>\n \u201cCapital investment and exports of services were the main drivers of GDP growth this quarter.\u201d<\/p>\n The news came after another Swiss-led global financial organisation waved its ego around \u2013 this time at the G20 minus Xi Jinping \u2013 in New Dehli.<\/p>\n Making the most of his permanent invite to the slick ones annual meet, Klaas Knot (real name unknown), chair of the Basel-based Financial Stability Board (FSB), told gathered ingrates that the world and its fragile economies can expect \u201cfurther challenges and shocks\u201d in the months ahead.<\/p>\n \u201cThe global economic recovery is losing momentum and the effects of the rise in interest rates in major economies are increasingly being felt\u2026 There will certainly be further challenges and shocks facing the global financial system in the months and years to come,\u201d Klass said, before diving into the end of days around high interest rates scuppering economic recoveries and the imminent collapse of global real estate etc.<\/p>\n Which is probably why Federal Treasurer Jim Chalmers was so chuffed with the GDP drop.got he called \u2018steady and sturdy\u2019.<\/p>\n \u201cThe National Accounts show the Australian economy remaining sturdy in the face of unrelenting pressure.<\/p>\n \u201cEconomic growth held up relatively well in the June quarter, despite the inevitable toll of high interest rates, high but moderating inflation and continuing global uncertainty, including the slowdown in China.<\/p>\n \u201cWe know there are challenges ahead, but we face them from a position of relative strength. This is a steady result, but we know that households are under pressure from the rising cost of living and higher interest rates.\u201d<\/p>\n \u00a0<\/p>\n \u00a0<\/p>\n Here are the best performing ASX small cap stocks:<\/p>\n Swipe or scroll to reveal full table. Click headings to sort:<\/p>\n Code Company Price % Volume Market Cap CCE Carnegie Cln Energy 0.002 100% 88,661,904 $15,642,574 LV1 Live Verdure Ltd 0.16 74% 1,060,624 $8,257,833 CT1 Constellation Tech 0.003 50% 200,000 $2,942,401 DXN DXN Limited 0.0015 50% 1,000,132 $1,723,340 WEL Winchester Energy 0.003 50% 62,975 $2,040,844 ADS Adslot Ltd. 0.004 33% 1,837 $9,799,853 EDE Eden Inv Ltd 0.004 33% 128,430 $8,990,911 ELE Elmore Ltd 0.004 33% 11,342,524 $4,198,151 BOA Boadicea Resources 0.046 31% 1,027,832 $4,308,161 AGD Austral Gold 0.031 29% 122,448 $14,695,472 KGL KGL Resources Ltd 0.14 27% 41,861 $62,402,105 AUN Aurumin 0.024 26% 810,593 $5,670,419 RDN Raiden Resources Ltd 0.035 25% 66,575,726 $64,102,075 BUX Buxton Resources Ltd 0.2 25% 4,210,700 $27,404,571 GES Genesis Resources 0.005 25% 40,150 $3,131,365 G50 Gold50Limited 0.18 24% 63,796 $15,515,104 PVW PVW Res Ltd 0.081 23% 45,986 $6,498,598 LVT Livetiles Limited 0.011 22% 930,552 $10,593,996 C29 C29Metalslimited 0.09 22% 539,481 $3,061,151 AUE Aurumresources 0.12 20% 100,359 $2,500,000 PFT Pure Foods Tas Ltd 0.12 20% 133,506 $10,999,502 AMD Arrow Minerals 0.003 20% 741,480 $7,559,413 LML Lincoln Minerals 0.006 20% 500,845 $7,103,559 PUA Peak Minerals Ltd 0.003 20% 333,628 $2,603,442 ID8 Identitii Limited 0.013 18% 5,900,795 $3,812,759 <\/p>\n WordPress Table Plugin<\/a><\/p>\n \u00a0<\/p>\n Absolute energy minnow Carnegie Clean Energy (ASX:CCE)<\/a>, has jumped on news that it\u2019s inked a juicy contract with Ireland that will see its CETO wave energy tech installed there by mid-2025.<\/p>\n CCE says that its CETO Wave Energy Ireland (CWEI) subsidiary has been awarded a \u20ac3.75 million contract to build and operate a CETO wave energy converter at the Biscay Marine Energy Platform in the Basque Country, Spain and will deliver power to the grid.<\/p>\n The Consumer Cyclical company Live Verdure (ASX:LV1)<\/a>, has snagged commitments for a $1.68 million placement from new and existing sophisticated shareholders.<\/p>\n The funds raised will be used for \u201cnew product development, fund working capital requirements for large retail partnerships and to further accelerate the Company\u2019s growth through investment in sales, marketing, and inventory initiatives,\u201d LV1 says.<\/p>\n Here\u2019s a pic. You can see they zig zagged a little before going right up and then down and then a bit more down and then mainly across and up.<\/p>\n Via MarketIndex<\/em><\/p>\n Elsewhere, Boadicea Resources (ASX:BOA)<\/a> has climbed on no news while a number of other goldies including Austral Gold (ASX:AGD)<\/a> and Gold 50 (ASX:G50)<\/a> are showing significant jumps as well, gold always being fun to watch.<\/p>\n \u00a0<\/p>\n Here are the best performing ASX small cap stocks:<\/p>\n Swipe or scroll to reveal full table. Click headings to sort:<\/p>\n Code Company Price % Volume Market Cap OLI Oliver’S Real Food 0.018 -25% 350,445 $10,577,566 AAU Antilles Gold Ltd 0.023 -21% 15,958,797 $17,119,660 ODY Odyssey Gold Ltd 0.02 -20% 728,039 $19,138,445 GTG Genetic Technologies 0.002 -20% 56,111 $28,854,145 BCT Bluechiip Limited 0.026 -19% 746,198 $22,837,455 HAL Halo Technologies 0.081 -17% 35,976 $12,690,531 BMR Ballymore Resources 0.1 -17% 433,731 $17,543,672 NRX Noronex Limited 0.0135 -16% 2,802,108 $6,052,828 XGL Xamble Group Limited 0.035 -15% 2,700 $11,650,406 1AD Adalta Limited 0.018 -14% 122,273 $9,272,052 AJL AJ Lucas Group 0.012 -14% 129,008 $19,260,215 MRI Myrewardsinternation 0.012 -14% 2,676,363 $5,828,873 SKN Skin Elements Ltd 0.006 -14% 582,950 $3,986,403 LDR Lode Resources 0.125 -14% 18,000 $15,483,701 EMP Emperor Energy Ltd 0.013 -13% 150,064 $4,032,937 DCN Dacian Gold Ltd 0.1 -13% 106,886 $139,932,108 RWD Reward Minerals Ltd 0.04 -13% 214,846 $10,481,244 EMT Emetals Limited 0.007 -13% 3,000,000 $6,800,000 LSR Lodestar Minerals 0.007 -13% 4,600,001 $14,867,179 FTL Firetail Resources 0.105 -13% 1,659,159 $11,550,000 EMD Emyria Limited 0.084 -13% 1,924,361 $29,601,534 FRS Forrestaniaresources 0.05 -12% 805,076 $5,343,733 CBH Coolabah Metals Limi 0.072 -12% 10,000 $4,739,600 ORA Orora Limited 2.89 -12% 29,982,313 $2,780,436,428 AJQ Armour Energy Ltd 0.115 -12% 15,017 $13,405,615 <\/p>\n WordPress Table Plugin<\/a><\/p>\n \u00a0<\/p>\n Matsa Resources (ASX:MAT)<\/a><\/strong> \u2013 Pending an announcement in relation to a Feasibility Study for the Devon Joint Venture project.<\/p>\n <\/span><\/p>\n The post Closing Bell: Minus Energy, the ASX benchmark and small cap indices had a silly day of depressing trade<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"
\nSmall caps led by teeny-tiny energy minnow CCE<\/p>\nWednesday\u2019s ASX sectors:<\/strong><\/h2>\n
RIPPED FROM THE HEADLINES<\/h2>\n
TODAY\u2019S ASX SMALL CAP LEADERS<\/h2>\n
TODAY\u2019S ASX SMALL CAP LAGGARDS<\/h2>\n
TRADING HALTS<\/h2>\n