\u00a0<\/p>\n
<\/strong>Local markets started slow before ripping into <\/strong>an all-time intraday high\u00a0<\/strong> \u00a0<\/p>\n Some strong earnings on the last day of February and a few equity-enabling economic indicators have boosted local stocks into a surprise winning mood on Thursday.<\/p>\n At 4.15pm on February 28, the S&P\/ASX200 was up 38.30 points or 0.50% to 7,698.70\n<\/p>\n Via Google<\/p>\n \u00a0<\/p>\n The final day of February has seen some fevered buying into the arvo, as the ASX200 Index clocked a new intraday high<\/p>\n On a day when even I\u2019ve gone ex-dividend in Sydney, the Aussie benchmark began proceedings with familiar timidity before early positive corporate earnings and some quality downbeat data like weak retail sales added strength to the argument that the Reserve Bank of Australia should sharpen the cutting tools.<\/p>\n Sparking an unlikely rally were some of the best ASX anti-heroes.<\/p>\n Star Entertainment chief executive Robbie Cooke is probably crying tears of relief, joy, pain, exhaustion, terror, guilt and pride as his dead-to-the-rest-of-us Star Entertainment Group surged this morning after dropping a handy net profit of well over $9mn\u00a0 for the half to December.<\/p>\n The casino is proving hard to kill despite once again finding itself caught deep in the gears of government \u2013 slapped a second time by the state gaming regulator who is now opening up the entertainment group\u2019s entrails in a second inquiry in as many years into whether the company is ethically worthy of running a casino.<\/p>\n I could go into what a company has to do wrong to not seem upright enough to run an establishment wherein patrons imbibe of alcohol and play at games of chance, but why not just glance at the Star\u2019s opening gambit in today\u2019s 1H presso\u2026 that\u2019s a lot of \u2018regulatory milestones\u2019\u2026.<\/p>\n Via Star<\/p>\n Anyhoo. The Star is up for now.<\/p>\n The buying momentum lifted from mid-morning with Harvey Norman finding 5% despite weaker sales revenue and 1H earnings after executive chair Gerry Harvey talked up a cracking something about AI and how the business was about to make more money.<\/p>\n The other major upside surprise to pick things up ahead of retail sales was the engineering services specialist Worley which also added 5% on stronger revenue.<\/p>\n Random small caps dropped numbers on a bust Thursday as well.<\/p>\n The Aussie 3D printing specialist AML3D have turned in a corker, sucking up $1.5mn in first half revenue, an improvement on the $146k in 1H23, according to my son\u2019s calculator that\u2019s an increase of circa a 940%.<\/p>\n The Adelaide-based company says it\u2019s received orders of $9.5 mn in the first half after getting the attention of the US Defence sector, leading to record cash receipts of $4.83mn.<\/p>\n AML3D\u2019s broader growth strategy includes the ambition to accelerate US sales by establishing US based facilities.<\/p>\n On the sector level the Real Estate stocks and REITS (real estate investment trusts) surged.<\/p>\n with the sector\u2019s shares lifting 1.17 per cent, while miners (down 0.45 per cent) weighed heavily on the local bourse.<\/p>\n Up 1.6% for the day, the S&P\/ASX 200 Real Estate (XRE) index has added a handy 12% year-to-date as every inflation easing indicator adds validity to the sector\u2019s cyclical resurgence.<\/p>\n The S&P\/ASX 200 Real Estate (XRE) index on Thursday\u2026<\/em><\/strong><\/p>\n Via MarketIndex<\/p>\n \u00a0<\/p>\n One of those indicators to help the cause is January\u2019s retail sales which the Australian Boffins of Statistics report came in well under market expectations of 1.5%, at just 1.1%.<\/p>\n Those unflattering numbers for Aussie inflation support January\u2019s 3.4% monthly gauge which undercut broad expectations of further acceleration.<\/p>\n We\u2019re all good that bad economic activity data is good for getting rates cut earlier \u2013 the RBA won\u2019t want to go on tightening to rein in non-threatening inflation. But steady on \u2013 we\u2019re far from home yet.<\/p>\n \u00a0<\/p>\n \u00a0<\/p>\n \u00a0<\/p>\n \u00a0<\/p>\n AUB Group Ltd (ASX:AUB) is paying 20 cents fully franked \u00a0<\/p>\n Around the \u2018hood\u2026<\/strong><\/em><\/p>\n Stocks on the Hang Seng are up almost 1% at lunchtime in Hong Kong, shrugging off Wednesday\u2019s sharp losses and heading toward a stunning monthly gain of around 6 \u2013 7%.<\/p>\n Wednesday\u2019s city budget for the next 12 months revealed an economy which grew over Q4 by the sharpest pace in 2 years\u00a0 at 4.3%, with a decent upswing in tourism and pick up in private consumption. Finnace Hong Kong\u2019s finance czar Paul Chan also pledged on Wednesday to remove the various HK property curbs to try and kick-start the real estate sector.<\/p>\n Mainland markets meanwhile are also looking perkier at near 3-month highs at around lunchtime in Shanghai, buoyed by following a drip-feed of pro-market measures to revive equities and boost investor confidence.<\/p>\n There\u2019s some timid but growing optimism among local investors that Beijing will continue to push for opportunities in equity markets.<\/p>\n Already in 2024, the Chinese government\u2019s rolled out a series of market-focused one-offs like jumping on the short-sellers and and lowering key lending rates.<\/p>\n The upcoming National People\u2019s Congress which kicks off on March 5 could hold a few more carrots.<\/p>\n \u00a0<\/p>\n US Markets\u2026<\/strong><\/em><\/p>\n US stocks trickled lower on a simpering Wednesday of trade in New York as US investors cowered beneath the shadow of Thursday\u2019s (NY time) PCE (personal consumption expenditure).<\/p>\n This one\u2019s the Federal Reserve\u2019s preferred measure of inflation and so much already spent in Mag 7 bets is on the line.<\/p>\n The S&P 500 pulled back 0.17 per cent to close at 5,069.76. The Nasdaq Composite fell 0.55 per cent to 15,947.74. The Dow Jones Industrial Average shed 23.39 points, or 0.06 per cent, to end at 38,949.02 and notch a third straight day of losses.<\/p>\n Speaking of the mystical 7, Google Mom and Pop company Alphabet (GOOG) has copped a post-woke-MAGA-directionless-fury beating to the tune of almost US$100mn since the internet giant had to unplug its infant AI (artificial intelligence) tool \u2013 which the hippy\u2019s called Gemini \u2013 after mainly white users flagged its apparent bias against white people, who \u2013 lets be honest \u2013 are also pretty terrible.<\/p>\n Google chose to hit pause on Gemini\u2019s apparently too artificial image generation application late last week and Alphabet shares have fallen almost 6% in the interim taking its market cap from US$1.798 trillion to US$1.702 trillion\u2026 so not much of a dent.<\/p>\n UnitedHealth lost nearly 3% to lead the Dow lower, while Urban Outfitters fell 13% after weaker-than-expected 4q numbers.<\/p>\n Real Estate was the best of the US Sectors, Comms Services the worst.<\/p>\n We\u2019re watching crypto\u2026<\/strong><\/em><\/p>\n In crypto news, Bitcoin reached a fresh high of $64,000 Wednesday before turning lower, according to Coin Metrics. This marks the cryptocurrency\u2019s highest level since Nov. 15, 2021, when it rose as much as $66,333.33.<\/p>\n BTC has surged almost 50% year to date and almost 25% this week as supply is shrinking and demand is growing according to our man from Cornwall in Sydney eToro\u2019s Josh Gilbert.<\/p>\n \u201cThis feels like the start rather than the end for crypto assets, even as Bitcoin closes in on its all-time high in US dollars.<\/p>\n \u201cWe\u2019re seeing huge interest in Bitcoin ETFs, which are garnering substantial trading volumes and billions of dollars of inflows. This milestone highlights a growing trend of institutional investors wanting to get exposure to bitcoin,\u201d Josh told Stockhead<\/em>.<\/p>\n \u00a0<\/p>\n US Futures in Sydney\u2019s present\u2026<\/strong><\/em><\/p>\n Via Fox News<\/em><\/p>\n \u00a0<\/p>\n Today\u2019s best performing small cap stocks:<\/p>\n Swipe or scroll to reveal full table. Click headings to sort:<\/p>\n Code Company Price % Volume Market Cap VPR Volt Power Group 0.002 100% 2,608,575 $10,716,208 TD1 Tali Digital Limited 0.0015 50% 4,093,013 $3,295,156 CUE CUE Energy Resource 0.1 49% 17,385,237 $46,774,021 MXO Motio Ltd 0.027 35% 314,137 $5,363,967 HLX Helix Resources 0.004 33% 6,213,714 $6,969,438 MCT Metalicity Limited 0.002 33% 2,290,000 $6,727,581 MRD Mount Ridley Mines 0.002 33% 1,246,498 $11,677,324 RR1 Reach Resources Ltd 0.002 33% 12,763,300 $4,815,446 SFG Seafarms Group Ltd 0.004 33% 5,814,958 $14,509,798 NSB Neuroscientific 0.048 30% 4,408,923 $5,350,380 DCC Digitalx Limited 0.068 28% 21,362,896 $41,726,876 EMP Emperor Energy Ltd 0.015 25% 2,054,870 $4,088,850 SOP Synertec Corporation 0.12 25% 204,572 $41,423,610 RWL Rubicon Water 0.5 25% 10,000 $68,754,042 CTO Citigold Corp Ltd 0.005 25% 200,000 $12,000,000 LNR Lanthanein Resources 0.005 25% 257,852 $5,159,248 NAE New Age Exploration 0.005 25% 2,915,000 $7,175,596 PAB Patrys Limited 0.01 25% 1,262,807 $16,459,579 SRZ Stellar Resources 0.01 25% 4,581,561 $11,490,264 SRX Sierra Rutile 0.084 24% 1,889,239 $28,848,078 FFF Forbidden Foods 0.016 23% 468,750 $2,624,187 NAG Nagambie Resources 0.029 21% 206,007 $19,119,256 HPR High Peak Royalties 0.06 20% 30,000 $10,402,986 MOV Move Logistics Group 0.48 20% 54,097 $46,554,052 AYT Austin Metals Ltd 0.006 20% 2,047,170 $6,425,957 <\/p>\n WordPress Table Plugin<\/a><\/p>\n \u00a0<\/p>\n I\u2019m loving this death or glory reaction to local biopharma Nyrada (ASX:NYR)<\/strong><\/a> , which this morning piled on another 50% in quick time (to go with yesterday\u2019s 421% bonanza).<\/p>\n Since then, the stock\u2019s come off 53%. So now only 418% up on Tuesday.<\/p>\n Via Google\/Stockhead<\/p>\n \u00a0<\/p>\n A strong run over 1H for Motio has traders diving in. Revenues of $3,675,500 are up 31%.<\/p>\n A chuffed CEO and MD Adam Cadwallader told investors that Motio is growing.<\/p>\n \u201cThe business has increased its revenue per location this half across each of its media channels. Motio\u2019s software and payments platform (Spawtz) has achieved all of its growth revenue targets and business development KPI\u2019s this half year, which has been extremely pleasing.\u201d<\/p>\n Struggling Sierra Rutile (ASX:SRX)<\/strong><\/a> has swung to a more than $20mn 1H loss, with a nasty combination of weak market conditions and uncertainties around everything from Area 1 fiscal terms to power availability which has left the company betweedn rutile and a hard place.<\/p>\n However the stock has surged after Sierra flagged a suspension of operations from 11 March, and given notice of a redundancy programme \u201canticipated to impact 25-30% of the workforce.\u201d<\/p>\n We\u2019ve got gains for Cue Energy Resources (ASX:CUE)<\/a> \u2013 up early in the morning after delivering its half-year, with a 22% lift in revenue to $29.3 million, and an underlying EBITDAX of $19.3 million, up 21%, and a 34% NPAT increase to $9.1 million.<\/p>\n Noxopharm (ASX:NOX)<\/strong><\/a> is continuing its recent run of good form, up another 28.2% after it banked some happy 1HFY24 results news yesterday.<\/p>\n Ardea Resources (ASX:ARL)<\/a>\u00a0and its Japanese consortium partners have reached an agreement on the scope and budget for the Kalgoorlie Nickel Project \u2013 Goongarrie Hub Definitive Feasibility Study. The Consortium has advised Ardea that they have completed their due diligence, and a final investment decision is in the works.<\/p>\n Norfolk Metals (ASX:NFL)<\/a> is also higher after an upbeat projects update for its copper-gold play in Tasmania, and an expansion to its uranium exploration in South Australia.<\/p>\n \u00a0<\/p>\n Today\u2019s best performing small cap stocks:<\/p>\n Swipe or scroll to reveal full table. Click headings to sort:<\/p>\n Code Company Price % Volume Market Cap CMD Cassius Mining Ltd 0.01 -68% 101,308,707 $16,802,139 DCX Discovex Res Ltd 0.001 -33% 311,239 $4,953,852 DRO Droneshield Limited 0.69 -26% 24,991,742 $569,302,858 H2G Greenhy2 Limited 0.006 -25% 45 $3,350,047 PKO Peako Limited 0.003 -25% 3,000 $2,108,339 HGL Hudson Investment 0.15 -25% 42 $11,871,987 MOZ Mosaic Brands Ltd 0.15 -23% 1,988,534 $34,808,756 TMG Trigg Minerals Ltd 0.007 -22% 3,075,923 $3,372,806 LOM Lucapa Diamond Ltd 0.021 -22% 6,733,936 $38,868,117 PLC Premier1 Lithium Ltd 0.036 -20% 818,454 $7,855,834 PR1 Pure Resources 0.1 -20% 539,921 $3,206,251 AL8 Alderan Resource Ltd 0.004 -20% 2,028,016 $5,534,307 MTL Mantle Minerals Ltd 0.002 -20% 5,163,769 $15,493,615 WML Woomera Mining Ltd 0.004 -20% 207,455 $6,090,695 AGI Ainsworth Game Tech. 1.14 -17% 46,350 $463,091,652 PVW PVW Res Ltd 0.03 -17% 302,224 $3,650,572 ASR Asra Minerals Ltd 0.005 -17% 1,887,765 $9,918,974 CCO The Calmer Co Int 0.005 -17% 20,088,421 $6,478,180 DOU Douugh Limited 0.005 -17% 158,317 $6,492,414 KRR King River Resources 0.01 -17% 1,014,131 $18,642,299 YAR Yari Minerals Ltd 0.005 -17% 30,000 $2,894,147 WNR Wingara Ag Ltd 0.016 -16% 32,110 $3,335,308 NRX Noronex Limited 0.011 -15% 227,018 $4,917,923 VIT Vitura Health Ltd 0.14 -15% 1,752,370 $95,019,175 DNA Donaco International 0.041 -15% 1,138,030 $59,298,690 <\/p>\n WordPress Table Plugin<\/a><\/p>\n New Age Exploration (ASX:NAE)<\/a><\/span> is acquiring the Wagyu gold project<\/span><\/a>, located along strike and midway between De Grey Mining\u2019s (ASX:DEG)<\/span><\/a> landmark Hemi and Withnell deposits in the Pilbara.<\/p>\n A resource upgrade could be on the cards for Magnetic Resources (ASX:MAU)<\/span><\/a> at the Lady Julie North 4 deposit near Laverton after reporting a fresh batch of high-grade intersections, including 29.5m @ 2.81g\/t gold, from deep drilling which extended to depths of 550m<\/span><\/a>, well below the existing inventory.<\/p>\n Mining has wrapped up at the Selkirk joint venture with more than 35,000t of gold-rich ore now set to be treated via the nearby Gwalia process plant<\/span><\/a>, delivering Brightstar Resources (ASX:BTR)<\/span><\/a> valuable funds for ongoing exploration and development work across its Menzies and Laverton gold projects.<\/p>\n Norwest Minerals (ASX:NWM)<\/a><\/span> has made the most of government and open-file geophysical data to identify 31 prospective targets<\/span><\/a> for carbonatites, IOCG, niobium and rare earths over its recently acquired 360km2 ground package in the emerging West Arunta mineral province.<\/p>\n Ongoing field work at Belararox\u2019s (ASX:BRX)<\/span><\/a> TMT copper-gold project in Argentina has uncovered further evidence that another porphyry system is present, this time at the Malambo target<\/span><\/a> where all the right ingredients have been found in four of the 12 targets tested to date.<\/p>\n Arizona-focused copper developer Eagle Mountain Mining (ASX:EM2)<\/span><\/a> has uncovered several uranium anomalies with elevated thorium<\/span><\/a> in radiogenic pegmatites in the northwest area of its Silver Mountain project.<\/span><\/p>\n Norfolk Metals (ASX:NFL)<\/span><\/a> has picked out a 4km-long anomaly at its Roger River copper-gold project in northwest Tasmania following a soil sampling program aimed at improving the company\u2019s understanding of what could lie underneath the surface of the highly-prospective Roger River Fault.<\/p>\n QX Resources (ASX:QXR)<\/a><\/span> has inked a letter of intent<\/span><\/a> with battery-grade lithium products manufacturer Stardust Power for potential offtake of future lithium brine products to be produced from the Liberty project in California.<\/p>\n And a proposed 33kV electricity infrastructure upgrade by SA Power Networks is set to have both immediate and long-term benefits for Renascor Resources (ASX:RNU)<\/span><\/a> and its future Siviour graphite operation in South Australia, as the company progresses development of its larger Battery Anode Material (BAM) project strategy.<\/p>\n <\/span><\/p>\n The post Closing Bell: Buyers ambush benchmark setting new benchmark<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"
\n10 of 11 sectors higher, benchmark closes 0.50pc up<\/strong>
\nSmall Caps led by Motio, Cue Energy and Sierra Rutile<\/strong><\/p>\nASX Sectors on Thursday<\/h2>\n\n
ASX Ex-Divs on Thursday<\/h2>\n
\nBeacon Lighting Grp (ASX:BLX) is paying 4.1 cents fully franked
\nCapral Limited (ASX:CAA) is paying 35 cents fully franked
\nCarlton Investments (ASX:CIN) is paying 41 cents fully franked
\nCorp Travel Limited (ASX:CTD) is paying 17 cents unfranked
\nDalrymple Bay (ASX:DBI) is paying 5.375 cents 68.18 per cent franked
\nEbos Group Ltd (ASX:EBO) is paying 47.5581 cents 95.77 per cent franked
\nGold Road Res Ltd (ASX:GOR) is paying 1 cents fully franked
\nIntegral Diagnostics (ASX:IDX) is paying 2.5 cents fully franked
\nJumbo Interactive (ASX:JIN) is paying 27 cents fully franked
\nMetrics Income (ASX:MOT) is paying 1.6 cents unfranked
\nMedibank Private Ltd (ASX:MPL) is paying 7.2 cents fully franked
\nMetrics Master (ASX:MXT) is paying 1.44 cents unfranked
\nPengana Int Equ Ltd (ASX:PIA) is paying 1.35 cents fully franked
\nPro Medicus Limited (ASX:PME) is paying 18 cents fully franked
\nShape Aust Corp Ltd (ASX:SHA) is paying 8 cents fully franked
\nSuncorp Group Ltd (ASX:SUN) is paying 34 cents fully franked
\nVentia Services Goup (ASX:VNT) is paying 9.41 cents 80 per cent franked
\nVulcan Steel (ASX:VSL) is paying 11.16 cents fully franked<\/p>\nASX SMALL CAP LEADERS<\/h2>\n
ASX SMALL CAP LAGGARDS<\/h2>\n
<\/h2>\n
ICYMI \u2013 PM Edition<\/h2>\n