Patience, penance and a little bit of greed is the Tuesday theme on local markets, as Monday\u2019s lacklustre effort on a traders\u2019 paradise of a wicket has ushered in a Day 2 run fest.<\/p>\n
The ASX200 is hitting them to all corners of the bourse and all 11 Sectors (no make that 10, now) are making up for Monday\u2019s session of lost opportunities.<\/p>\n
\u00a0At midday on Tuesday Nov 28, the S&P\/ASX 200 index was ahead by 46 points or\u00a0 +0.66% to 7033.<\/strong><\/em><\/p>\n Via Google<\/p>\n It\u2019s a rare sight to clock the benchmark looking so green and vibrant, especially after Wall Street looked so uninspired overnight as all three major US indices ended across the border in red town, the Nasdaq getting closest to parity at -0.06%.<\/p>\n At home, some guilty-lookin\u2019 large caps wot dragged the index lower on Monday have come out swinging.<\/p>\n The major iron ore triumvirate, for example, look like easy money after yesterday\u2019s giveaway:<\/p>\n Via Google<\/em><\/p>\n \u00a0<\/p>\n The big Aussie banks are also getting bigger.<\/p>\n The market\u2019s gone nuts for Plenti Group (ASX:PLT)<\/strong><\/a>, after the fintech revealed a genuine<\/em> money-related deal with NAB (more of that below). While the other three also have some ground to make up following Monday\u2019s retreat to nowhere, pretty much offering traders a free shot, which they\u2019re not missing, it seems:<\/p>\n Via Google<\/em><\/p>\n However, the standout performer is the ASX Real Estate Sector.<\/p>\n Lendlease Group (ASX:LLC)<\/strong><\/a> is up +3.39%, Cromwell Property Group (ASX:CRW) and Unibail-Rodamco-Westfield (ASX:URW)<\/strong><\/a> have added +2.50%, while Scentre Group (ASX:SCG)<\/strong><\/a> and National Storage REIT (ASX:NSR)<\/strong><\/a> are both ahead +2.2%<\/p>\n Meanwhile, just ahead of lunch, the bureau of numbers has retail turnover falling for October.<\/p>\n Sales were down by -0.2% from September, missing consensus estimates for a 0.1% monthly rise and going some way to appeasing hawk-eyed watchers from the central bank.<\/p>\n Retail sales rose 1.2% compared to October 2022.<\/p>\n A flat-footed Wall Street ended in the red on Monday as US investors reluctantly returned to the grind having distributed all the thanks they could over the holiday.<\/p>\n What awaits them are a few truth bombs, which might displace the serenity which has overcome both uncertainty and anxiety of late.<\/p>\n This week sees the US Fed\u2019s preferred inflation measurement \u2013 the Personal consumption expenditures (PCE)<\/a>, drop on Wednesday \u2013 and while CME\u2019s FedWatch tool<\/a> says the chances of another pause already looks as much a reality as is mathematically possible (it\u2019s at 99.4%), an unwelcome PCE could upturn the apple cart, literally.<\/p>\n On that note, losses on Wall St mirrored the mess we left the ASX in on Monday \u2013 with Energy, Materials and the Healthcare Sectors among the worst performers, although in the US, the retail stocks outperformed\u2026 whereas here no-one did.<\/p>\n<\/div>\n And speaking of dissapointment \u2013 the Energy Sector has tarnished the Tuesday visuals \u2013 the only sector lower at lunch.<\/p>\n Takeover target Origin Energy (ASX:ORG)<\/strong><\/a>\u00a0 can cop some of the blame (although I believe it\u2019s technically a utility play).<\/p>\n It\u2019s falling again on both LNG export delays at Curtis Island, almost a welcome distraction to the voluble fury out of major shareholder AustraliaSuper demanding ORG walk away from unwelcome negotiations with US giant Brookfield, with more shareholders adding their weight to nix the $20bn bid. Via MarketIndex<\/em><\/p>\n \u00a0<\/p>\n Wall Street closed out a sullen session in the red.<\/p>\n The Dow Jones lost more than 55 points and the S&P 500 back-peddled -0.2%.<\/p>\n The tech heavy Nasdaq also ended slightly in the red, despite mega-tech movement for the likes of Messrs Nvidia (+1.0%), Microsoft (+0.3%) and Amazon (+0.7%) as Cyber Monday sales sent the US into an online shopping frenzy.<\/p>\n This was offset by all the other US retailers not currently a trillion dollar company flagging softer consumer spend, even as analysts called a\u00a0 +7.5% boost in US e-commerce sales for Black Friday vs last Black Friday.<\/p>\n Elsewhere and even though earnings season is officially over in New York, HP, Salesforce, and Dell are ALL expected to report earnings during the week ahead.<\/p>\n All 3 Futures tied to the major indices were just above water ahead of the open in New York:<\/strong><\/em><\/p>\n Via Fox Here are the best performing ASX small cap stocks for 28 November [intraday]:<\/strong><\/p>\n Swipe or scroll to reveal full table. Click headings to sort:<\/em><\/strong><\/p>\n <\/em><\/strong><\/p>\n WordPress Tables Plugin<\/a><\/p>\n Plenti Group (ASX:PLT)<\/a> looks plenty good on this nondescript lookin\u2019 Tuesday.<\/strong><\/p>\n The non-bank lender has dropped some decent results for the first half of its 2024 (six months to September 30), but it\u2019s entirely possible investors have come for the PLT\u2019s results, but stayed for its shiny new partnership with National Australia Bank, one which actually involves money and integration into the bank\u2019s embrace.<\/p>\n PLT says the tie-in is all about \u201cinitially launching a \u2018NAB powered by Plenti\u2019 car and electric vehicle (EV) loan and then making Plenti renewable energy finance available to NAB customers.\u201d<\/p>\n There\u2019s also an equity investment deal \u2013 allowing NAB to \u2018acquire up to 15% of Plenti\u2019s share capital\u2019 through placements and market purchases and such.<\/p>\n That, in fintech parlance, is commitment.<\/p>\n Meanwhile, the books look strong for Plenti. Its closing loan portfolio for the first half was at $2bn \u2013 up +29% on the pcp, the key measurement for these chaps \u2013 and loan originations amounted to $624mn, a +12% improvement on the same time last year.<\/p>\n Plenti\u2019s CEO and founder Daniel Foggo was probably more chuffed than he lets on here:<\/p>\n \u201cWe\u2019ve had a productive first half, building on the great momentum in our business, and further demonstrating the benefits of our strengths across our technology, our credit capabilities, the ever-increasing diversity of our activities and our team.\u201d<\/p>\n Half-year revenue was $97 million, up 52% on pcp. Cash NPAT was $1.5 million, up 10% on pcp. The company had a strong credit performance in the half, with a 0.99% net loss rate. Shot from a cannon out of last night\u2019s trading halt is Equinox Resources (ASX:EQN)<\/strong><\/a> up 36% and moving across lunchtime at velocity.<\/p>\n EQN says it\u2019s gone and put its hand up for what certainly looks like a \u201chighly prospective rare earths tenements in Brazil.\u201d<\/p>\n It\u2019s no wee patch of land this one \u2013 the company says it\u2019s submitted strategic pegging applications for a ~1,760km2 Mining Rights package to establish a newly defined \u201cCampo Grande\u201d Project, in the emerging rare earths province in Bahia state, nearby the Rocha da Rocha Rare Earths Project held by Brazilian Rare Earths Ltd.<\/p>\n That spot reportedly hosts a ginormous JORC Resource Estimate of 510.3Mt at 1,513ppm Total Rare Earth Oxide (TREO).<\/p>\n The timing works too, as\u00a0 Brazilian Rare Earths (BRE) is currently undertaking a $50mn Initial Public Offer (IPO) on the ASX with an expected market capitalisation of approximately $315m.<\/p>\n Equinox says it considers the Campo Grande Project as \u2018a major strategic development in Equinox\u2019s growth as a diversified global resources company.\u2019<\/p>\n Such a project would look very nice next to EQN\u2019s advanced iron ore asset in WA and its lithium assets in Canada.<\/p>\n Up around +60%,InteliCare (ASX:ICR)<\/a><\/strong>has jumped, <\/strong>after revealing its non-binding Memorandum of Understanding (MoU) with Bolton Clarke, which it says is a precursor to a Strategic Partnership Agreement.<\/p>\n ICR is a medtech of sorts, with a fair bit of SaaS and other stuff thrown in. It\u2019s been developing predictive analytics hardware and software for use in the aged care sector.<\/p>\n In this case its MOU partner also happens to be Australia\u2019s largest independent not-for-profit aged care provider, with ICR saying its platform will find a home somewhere across Bolton Clarke\u2019s various sites and services.<\/p>\n What amounts to a pilot project will assess how ICR gels within the Bolton Clarke operating environment and help ICR assess and identify areas of possible enhancement.<\/p>\n \u00a0<\/p>\n Here are the most-worst performing ASX small cap stocks for 28 November [intraday]:<\/strong><\/p>\n Swipe or scroll to reveal full table. Click headings to sort:<\/em><\/strong><\/p>\n <\/em><\/strong><\/p>\n WordPress Tables Plugin<\/a><\/p>\n <\/span><\/p>\n The post Small Cap Lunch Wrap: Grab a spoon. Plenti to share \u2018cos its All You Can Eat Tuesday on the ASX<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"
\n\u00a0<\/p>\nASX SECTORS ON TUESDAY<\/h2>\n
US PAST and FUTURES<\/h2>\n
\n\u00a0<\/p>\nASX SMALL CAP WINNERS<\/strong><\/h2>\n
\n\u00a0<\/p>\nASX SMALL CAP LOSERS<\/strong><\/h2>\n