The ASX benchmark has monstered Monday
\n9 of 11 sectors in the green<\/p>\n
Small caps led by Compumedics<\/p>\n
Australia\u2019s share market put in a powerful statement of confidence on Monday as an S&P500 switcheroo in sentiment pushed traders into opportunities across a diverse group of local sectors and themes.<\/p>\n
At match-out on Monday December 4, the S&P\/ASX 200 (XJO) index was up 51 points, or +0.73%:<\/strong><\/em><\/p>\n Via Google<\/em><\/p>\n From the get go at 10am in Sydney, growth stocks looked attractive after easing US inflation and economic growth added big bets on Wall Street to the already hefty weight saying the US Fed will wield the axe on interest rates as early as\u00a0 the first half of next year.<\/p>\n The late season rally, which has taken the US S&P 500 benchmark index ahead by circa +20% year-to-date as well as a few points off a fresh 12 month high on Friday, filtered directly through to the broader Australian market with a diversity of stocks making strong gains.<\/p>\n Gold stocks looked undeniable on the ASX while the Mining, Real Estate and IT Sectors led gains following the rally on Wall Street amid growing expectations that central banks are close to peak tightening.<\/p>\n An absolute flurry of bets have been placed on the smallest of the small cap IT sector stocks on Monday.<\/p>\n If pent-up speculation for fan favourite growth-tech has been building over the past 11 months, then today has seen it spill out all over the sector:<\/p>\n Via MarketIndex<\/p>\n Among the adult tech names to make strides into the first full week of December trade, WiseTech was up 2.3% while NextDC jumped well over +3%.<\/p>\n In the materials space, iron ore giants BHP and Rio Tinto are up about 2% while in the world of gold Northern Star and Evolution Mining are up over 3.5% a piece and Newmont is +2.5% higher.<\/p>\n \u00a0<\/p>\n Origin shareholders have met in Sydney to deny Brookfield and Friends their $20bn offshore intentions.<\/p>\n The consortium, led by the Canadian private equity giant and EIG partners, offered an all-up circa $9.40 a share for Origin and its various energy assets.<\/p>\n That apparently undervalued the energy play, with only 66.97% of shareholders backing the vote, although major shareholder AustralianSuper \u2013 with 17.5% stake \u2013 is the main culrpit behind the no sale.<\/p>\n Aussie Super said late on Monday arvo, via an official statement, that they thought it was a super result.<\/p>\n \u201cAustralianSuper believes Origin has a highly strategic portfolio of assets to participate in, and for members to benefit from, the energy transition.<\/p>\n \u201cWe have never wavered in our belief that the value and future value of Origin is better in the hands of members and other shareholders rather than a private equity consortium seeking to make a quick return based on the proposed scheme terms and we are pleased that this is the outcome.\u201d<\/p>\n \u00a0<\/p>\n And we\u2019re surely still watching gold\u2026<\/strong><\/em><\/p>\n Gold is soaring.<\/p>\n The precious metal is ahead by\u2026 well it\u2019s a lot\u2026<\/p>\n Via TradingEconomics<\/p>\n \u00a0<\/p>\n Up more than 3.3% to above $2,100 early on Monday very early \u2013 smacking into fresh all-time highs.<\/p>\n Read More: <\/em><\/strong>Gold is glittering right now<\/a><\/p>\n The US Federal Reserve will hold interest rates steady at this month\u2019s meeting and could start cutting rates next year. Boom.<\/p>\n Markets now see a 60% chance that the US central bank could reduce its policy rate in March next year and are fully pricing in a cut in May.<\/p>\n \u00a0<\/p>\n Ahead of Monday trade in New York, US Futures linked to all 3 major US indices were lower:<\/strong><\/em><\/p>\n Via Fox<\/p>\n Here are the best performing ASX small cap stocks:<\/strong><\/p>\n Swipe or scroll to reveal full table. Click headings to sort:<\/em><\/p>\n WordPress Tables Plugin<\/a><\/p>\n Smashing Monday open was the Aussie medical device company, Compumedics (ASX:CMP)<\/a><\/strong>, which has been cleared by the US FDA to go get its flagship Somfit sleep aid device to be marketed in the USA.<\/p>\n Read More:<\/em> Approval for Compumedics (ASX:CMP)<\/strong> mark strategic milestone in one of the world\u2019s largest sleep markets.<\/a><\/p>\n Compumedics can now begin its commercialisation activities in the key USA market, following initial commencement of sales activities for Somfit in the Australian market since the beginning of FY24.<\/p>\n In Australia, sales of Somfit generated $1.2m of orders taken to date since the launch in July.<\/p>\n CMP and clearly many, many punters reckon there\u2019s a significant poorly-rested market in the US worth circa US$110m-180m in potential revenue, from which the company \u2018will target 10% to 30% within the next 24 months.\u2019<\/p>\n \u00a0<\/p>\n A Monday badge of honour for Boab Metals (ASX:BML)<\/strong><\/a>:<\/p>\n Via ASX<\/em><\/p>\n Yes, the base and precious metals explorer has been absolutely hectic upon the small caps greatest hits charts clocking about +60% before the ASX cops pulled the shares over for a glance under the hood.<\/p>\n Erstwhile lover of numbers, Stockhead\u2019s Rob Badman<\/em><\/a> says BML\u2019s now up more than 90% over the past 30 days, although YTD it\u2019s still down about 33%.<\/p>\n The WA company\u2019s last piece of major news came almost a month ago, on November 8, when it\u00a0made significant intercepts at the Keep Seismic prospect within its 75% owned Sorby Hills lead-silver-zinc project in the Kimberley region of WA.<\/p>\n Highlights being:<\/p>\n \u2022 Hole SHSD_185 \u2013 9.55m at 5.10% PbEq (2.59%Pb& 2.26% Zn) and 17.6g\/t Ag from 242.55m.<\/p>\n \u2022 This includes \u2013 3.12m at 13.43% PbEq (6.37% Pb & 6.36% Zn) and 26.5g\/t Ag from 245.36m.<\/p>\n Boab\u2019s MD and CEO Simon Noon rated the zinc-lead sulphide intersections \u201can outstanding success given the conceptual nature of the target and its location in an area, and at a depth where no mineralisation has been intersected before.\u201d<\/p>\n The company believes that find will be a catalyst for further exploration and has great expectations for the Sorby Hills site.<\/p>\n Helium is a noble gas and Noble Helium (ASX:NHE)<\/strong><\/a> could very well have more of it.<\/p>\n The Tanzania-focused explorer this morning reported it has successfully completed wireline logging and sampling at the Mbelele-2 well, at the company\u2019s 100% owned North Rukwa Helium Project in Tanzania.<\/p>\n CEO Justyn Wood called the maiden drilling program \u2018an incredible success\u2019.<\/p>\n \u201cBoth operationally and in confirming the potential for a significant helium resource at Mbelele.\u201d<\/p>\n NHE says multiple data points throughout the campaign point to \u2018a prolific helium system: a probable 10-15 metre column of nitrogen and helium at the crest, helium-rich downhole samples calculated at 2-3% helium in exsolved gas and helium-rich gas bubbles in the drilling mud at multiple depths in both wells.\u2019<\/p>\n \u201cThese results also significantly de-risk the balance of the company\u2019s North Rukwa acreage, with clear evidence we are in a globally unique and prolific helium producing system, supporting the company\u2019s well-researched thesis that the North Rukwa rift basin has the potential to emerge as a globally significant primary helium province,\u201d Wood added.<\/p>\n \u00a0<\/p>\n Here are the day\u2019s worst performing ASX small cap stocks:<\/strong><\/p>\n Swipe or scroll to reveal full table. Click headings to sort:<\/em><\/p>\n WordPress Tables Plugin<\/a><\/p>\n \u00a0<\/p>\n Origin Energy (ASX:ORG)<\/strong><\/a>\u00a0\u2013 A meeting of Origin shareholders is being held today at 2.00pm to consider the proposed acquisition of Origin<\/p>\n Gold Hydrogen (ASX:GHY)<\/strong><\/a> \u2013 Pending the release of an announcement regarding exploration results from its Ramsay 2 well, the second well of its maiden drilling program<\/p>\n Avenira (ASX:AEV)<\/strong><\/a> \u2013 Pending an announcement regarding a capital raise<\/p>\n Newfield Resources (ASX:NWF)<\/strong><\/a> \u2013 Pending the release of an announcement by the Company in relation to an update on the non-renounceable entitlement offer and the accompanying shortfall offer<\/p>\n Beacon Minerals (ASX:BCN)<\/strong><\/a> \u2013 In relation to a material proposed project acquisition<\/p>\n Carbonxt Group (ASX:CG1)<\/strong><\/a> \u2013 Pending an announcement regarding a capital raise<\/p>\n \u00a0<\/p>\n \u00a0<\/p>\n \u00a0<\/p>\n <\/span><\/p>\n The post Closing Bell: ASX wins friends and influences portfolios after Monday outperformance<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"IT Sector Top 10 on Monday<\/h2>\n
ASX SECTORS ON MONDAY<\/span><\/h2>\n\n
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TODAY\u2019S ASX SMALL CAP LEADERS<\/h2>\n
TODAY\u2019S ASX SMALL CAP LAGGARDS<\/h2>\n
TRADING HALTS<\/h2>\n