\u00a0<\/p>\n
Local markets get smashed, drop 1.8pc<\/strong> \u00a0<\/p>\n A record close on Friday has found a typically ASX200-flavoured follow-up on Monday after the last session in New York saw US semiconductor darling Nvidia lose 5.6% to snap a six-session winning streak.<\/p>\n At 4pm on March 11, the S&P\/ASX200 was down 143 points or 1.82% to 7,704.2\u2026<\/p>\n Via Getty<\/p>\n \u00a0<\/p>\n Local markets have been thwacked from all four corners in the year\u2019s best smackdown on Monday in Sydney, after US markets fell away on Friday.<\/p>\n But Wall St losses only provided the mood music, as the ADX200 copped blows throughout a tough day on Australian and regional markets.<\/p>\n Kicking things in the midriff this morning were the nation\u2019s big four banks who\u2019ve quietly been accumulating gains but were suddenly the object of selling in the early trades.<\/p>\n Still worse on Monday were the miners.<\/p>\n As the day unfolded the other major moneymaker on Aussie markets \u2013 the iron ore heavyweights \u2013 endured a pounding as an already flimsy iron ore price had holes poked through it on Singapore exchange throughout Monday.<\/p>\n Singapore iron ore futures traded 2.1 per cent lower to $US112.75 a tonne on the April contract. Index heavyweight BHP lost 2.6 per cent and Fortescue Metals dropped 3.1 per cent.<\/p>\n Energy stocks also retreated as crude oil held a loss ahead of reports from OPEC and the IEA this week that may provide clues on the demand outlook. Woodside Energy dropped 2.5 per cent and Santos fell 2.2 per cent. Brent futures fell below $US82 a barrel after closing 1.1 per cent lower on Friday.<\/p>\n All the major banks were in the red by between 2.5 and 1.5% as traders rushed to the exit after Friday\u2019s memorable record highs.<\/p>\n Scanning for winners\u2026 er\u2026 there\u2019s always Regional Express (ASX:REX)<\/strong><\/a> which is higher on a deal with Etihad.<\/p>\n The company told the ASX its passengers fly to either Sydney or Melbourne on Rex and thereafter connect via Etihad to \u201ca further 72 destinations across the globe.:<\/p>\n Both the samll ords and emerging (XEC) index were 1.25% lower.<\/p>\n Via MarketIndex<\/p>\n \u00a0<\/p>\n Around the \u2018hood\u2026<\/strong><\/em><\/p>\n Asian-Pacific stock markets mostly dropped on Monday, after the spectacular Nvidia-led losses on Wall Street.<\/p>\n The good news is equities in Hong Kong and Mainland China were largely higher as investors digested the latest inflation figures which were distinctly less deflationary.<\/p>\n It was Japanese shares led the losses in the region, tumbling more than 2% as final data showed that Japan\u2019s economy returned to growth in the fourth quarter of 2023, averting a technical recession and bolstering bets that the Bank of Japan could start raising interest rates soon. Markets in South Korea were also heading lower.<\/p>\n \u00a0<\/p>\n US Markets\u2026<\/strong><\/em><\/p>\n US stocks did sound a general retreat on Friday, ending a bubbly volatile week with a fullstop \u2013 or at least a bit of profit taking on Nvidia\u2019s cray-cray run of gains YTD.<\/p>\n The S&P500 lost 0.65% to 5,123.69.<\/p>\n The Nasdaq Composite shed 1.15%.<\/p>\n The softer-hearted Dow Jones Industrial Average gave up 69 points, or 0.17%, to end at 38,722.69.<\/p>\n All three major US indices took on water in choppy conditions last week \u2013 the worst for the 30-stock Dow since October.<\/p>\n The S&P500 lost 0.25%, the Dow and tech-heavy Nasdaq fell 0.95% and 1.2%, respectively.<\/p>\n Nvidia running out of puff, defined Friday in New York, as the AI darling gave up circa 5% of gains in the morning to log its worst session in almost 10 months.<\/p>\n But hey \u2013 Nvidia still finished up more than 6% for the week, so bad is relative and in NVDA\u2019s case it\u2019s incestuous. It\u2019s added US$1 trillion in market cap this year (2024) so\u2026<\/p>\n Former glory Mega tech, Apple, finally rose in Friday trading finding 1% and thus ending its longest losing streak (seven sessions) since January \u201922.<\/p>\n But like an anti-NVDA \u2013 APPL was still down 5% on the week, making it the worst performer in the 30-stock Dow.<\/p>\n US February jobs data came in at a higher-than-expected increase of 275k jobs compared to the estimated 189k. Good for the economy, bad for rate cuts.<\/p>\n Oil prices fell last week as demand out of China and ample global supply butted heads.<\/p>\n The West Texas Intermediate contract for April settled down 1.2%.<\/p>\n With the sustainability of higher prices sans significant Chinese demand recovery, the US crude and the global benchmark copped losses of 2.5% and 1.8%, respectively.<\/p>\n Among the US sectors, Real Estate was the best performer, and Tech was the worst.<\/p>\n \u00a0<\/p>\n US Futures are heading lower on Monday at the close in Sydney:<\/strong><\/em><\/p>\n \u00a0<\/p>\n Via Fox<\/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 RR1 Reach Resources Ltd 0.004 100% 67,247,954 $6,420,594 TSK Task Group Holdings 0.765 91% 8,919,114 $142,515,309 INP Incentiapay Ltd 0.007 75% 1,659,484 $4,975,720 IS3 I Synergy Group Ltd 0.014 56% 2,612,078 $2,736,723 MAG Magmatic Resrce Ltd 0.09 45% 5,760,174 $18,952,953 ESR Estrella Res Ltd 0.005 43% 15,063,597 $6,157,802 BTN Butn Limited 0.13 34% 33,698 $17,752,804 AHN Athena Resources 0.004 33% 379,907 $3,211,403 NYR Nyrada Inc. 0.1025 28% 8,470,585 $12,480,696 1TT Thrive Tribe Tech 0.028 27% 1,739,914 $6,525,673 MCT Metalicity Limited 0.0025 25% 400,000 $8,970,108 NAE New Age Exploration 0.005 25% 955,000 $7,175,596 TMR Tempus Resources Ltd 0.005 25% 100,000 $2,923,995 TMX Terrain Minerals 0.005 25% 4,901,130 $5,726,683 MX1 Micro-X Limited 0.1275 21% 1,437,459 $54,476,139 BMR Ballymore Resources 0.12 20% 54,784 $17,633,059 OAU Ora Gold Limited 0.006 20% 108,322 $28,700,004 TX3 Trinex Minerals Ltd 0.006 20% 1,000,000 $7,435,123 CR1 Constellation Res 0.13 18% 60,000 $5,489,597 SGA Sarytogan 0.26 18% 1,648,875 $16,928,980 NGS NGS Ltd 0.013 18% 819,814 $2,763,501 SPQ Superior Resources 0.013 18% 7,393,387 $22,013,425 DAL Dalaroo Metals 0.02 18% 326,566 $1,406,750 IKE Ikegps Group Ltd 0.445 17% 24,283 $60,892,331 <\/p>\n WordPress Table Plugin<\/a><\/p>\n \u00a0<\/p>\n Up and at \u2019em early is Task Group Holdings (ASX:TSK)<\/strong><\/a> where the stock is off and soaring\u00a0as it price doubles after local retail-tech player gave a consenting nod to a $310m takeover from US firm PAR Technologies.<\/p>\n PARTech has lobbed an 81c a pop offer at TSK\u00a0 which is easily double its closing price of just under 39c on Friday last week.<\/p>\n The US bid values Task at $140.7m.<\/p>\n TASK shares jumped out of the blocks this morning when the news dropped and are almost skirting the offer price.<\/p>\n PARTech meanwhile, has offered TASK investors two options: an all cash offer of 81 cents or a 50% scrip alternative, which implies an equity value of $343m.<\/p>\n The agreement isn\u2019t the first US takeover to come Task\u2019s way. Four years earlier a deal fell through as COVID took over, but this time TSK\u2019s board looks to be taking no risks \u2013 unanimously recommending it to shareholders \u201cin the absence of a superior proposal.\u201d<\/p>\n \u00a0<\/p>\n And we\u2019ve got a bit of Aussie semiconductor action on Monday with Archer Materials (ASX:AXE)<\/strong><\/a> revealing it has designed a miniaturised version of its Biochip graphene field effect transistor (\u201cgFET\u201d) chip.<\/p>\n \u201cThe Archer Biochip contains a sensing region of which the gFET is the core component. Each gFET chip contains multiple gFETs, each of which is a transistor, which acts as a sensor,\u201d the company says.<\/p>\n Archer says it\u2019s miniaturised the total chip size by redesigning the layout of the circuits creating these gFET transistors.<\/p>\n \u201cThe new miniaturised design has been sent to a foundry partner for a whole-wafer fabrication of reduced size gFET chips, which Archer intends to integrate with other parts of the Biochip technology.\u201d<\/p>\n \u00a0<\/p>\n Magmatic Resources (ASX:MAG)<\/strong><\/a> is still soaring after executing a Farm-in and Joint Venture agreement with FMG Resources\u00a0 on Friday \u2013 they\u2019re a wholly owned subsidiary of Fortescue (ASX:FMG)<\/strong><\/a>.<\/p>\n The new best buds plan to explore the Myall Project in central west NSW which consists of a contiguous 244km2 tenement covering the northern extension of the Junee-Narromine Volcanic Belt.<\/p>\n \u201cThe project hosts significant porphyry-associated copper-gold mineralisation within a similar geological setting to the Northparkes copper-gold mine 50km to the south,\u201d the company says.<\/p>\n \u00a0<\/p>\n Finally, big news on the lithium front as Voltaic Strategic Resources (ASX:VSR)<\/strong><\/a> \u200band Delta Lithium (ASX:DLI)<\/strong><\/a> <\/span>have joined forces to go hard at<\/span> in the next phase of\u200b\u00a0<\/span>\u200b<\/span>exploration \u200b<\/span>a\u200bt\u00a0<\/span>Ti Tree Lithium Project, \u200b\u201d<\/span>through a significant and strategic $12 million Farm-in\u200b\u00a0<\/span>and Joint Venture\u200b<\/span>\u201c.<\/p>\n V\u200boltaic says the\u00a0<\/span>executed agreement is binding and follows\u200b\u00a0<\/span>a period of due diligence already undertaken by Delta.<\/p>\n CEO Michael Walshe \u200b<\/span>t\u200bold the ASX on Monday that e<\/span>ntering a \u201cmutually advantageous strategic partnership with Delta Lithium is an excellent outcome for both companies.\u201d<\/p>\n Walshe says Voltaic will receive an immediate payment of $1.25 million that further\u200b\u00a0<\/span>bolsters its \u201calready robust proforma cash reserves\u201d to more than $7m.<\/p>\n \u201cThis enables Voltaic to undertake considered and cost-effective exploration at the Paddys Well\u200b\u00a0<\/span>and Meekatharra projects and provides a platform to pursue transformative growth opportunities.<\/p>\n Delta has already advanced Yinnetharra, completing >115,000m of drilling and delivery of a significant maiden resource within just over a year since acquiring it.<\/p>\n \u201cThis transformative deal positions Voltaic for substantial near-term project development catalysts,\u200b\u00a0<\/span>and leveraging Delta\u2019s robust balance sheet, offers a significantly de-risked route to production and\u200b\u00a0<\/span>cashflow.\u200b\u201d<\/span><\/p>\n \u00a0<\/p>\n PNG focused energy minnow Mayur Resources (ASX:MRL)<\/strong><\/a> dropped half year numbers this morning showing progression in getting its key Central Lime Project and Orokolo Bay Industrial Sands Project to Final Investment Decision.<\/p>\n MRL has a portfolio of renewable energy plans across PNG, making a significant hire in snagging ex-OkTedi, Oil Search (ASX:OSH)<\/strong><\/a> and current Santos (ASX:STO)<\/strong><\/a> independent non-executive director to oversee government and community relations across Mayur\u2019s PNG portfolio.<\/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 AXP AXP Energy Ltd 0.001 -50% 275,510 $11,649,361 JAV Javelin Minerals Ltd 0.001 -50% 276,539 $4,352,462 NAG Nagambie Resources 0.015 -40% 5,884,100 $19,915,892 LRL Labyrinth Resources 0.004 -33% 1,870,619 $7,125,262 FTL Firetail Resources 0.041 -29% 3,419 $8,636,522 CT1 Constellation Tech 0.0015 -25% 200 $2,949,467 MRD Mount Ridley Mines 0.0015 -25% 995,624 $15,569,766 MTL Mantle Minerals Ltd 0.0015 -25% 6,256,753 $12,394,892 NES Nelson Resources 0.003 -25% 4,285,277 $2,454,377 VPR Volt Power Group 0.0015 -25% 532,739 $21,432,416 LML Lincoln Minerals 0.005 -23% 1,330,460 $11,076,294 EEL Enrg Elements Ltd 0.007 -22% 175,000 $9,089,685 CKA Cokal Ltd 0.075 -21% 3,180,772 $102,500,153 LYK Lykos Metals 0.027 -21% 81,214 $6,404,089 HTM High-Tech Metals Ltd 0.12 -20% 10,641 $3,712,723 CTN Catalina Resources 0.004 -20% 419,525 $6,192,434 CTO Citigold Corp Ltd 0.004 -20% 5,796,825 $15,000,000 EDE Eden Inv Ltd 0.002 -20% 14,020 $9,195,678 VML Vital Metals Limited 0.004 -20% 703,297 $29,475,335 BEX Bikeexchange Ltd 0.45 -20% 8,521 $10,437,450 BNZ Benz Mining 0.11 -19% 109,704 $15,022,526 LSA Lachlan Star Ltd 0.045 -17% 145,410 $11,208,953 AMM Armada Metals 0.015 -17% 12,750 $3,744,000 PKD Parkd Ltd 0.025 -17% 180,000 $3,120,416 AQX Alice Queen Ltd 0.005 -17% 470,810 $4,145,905 <\/p>\n WordPress Table Plugin<\/a><\/p>\n \u00a0<\/p>\n Dimerix (ASX:DXB)<\/a><\/span> has hailed the interim results of its ACTION3 Phase 3 trial of the DMX-200 drug a success, with analysis showing it is performing better than the placebo<\/span><\/a> in reducing proteinuria (using a statistical measure) in patients with focal segmental glomerulosclerosis.<\/p>\n Iltani Resources (ASX:ILT)<\/a><\/span> has intersected grades up to 1,070g\/t indium \u2013 the highest known indium drilling assay ever reported in Australia \u2013 at its Orient silver-lead-zinc project in North Queensland.<\/p>\n Moab Minerals (ASX:MOM)<\/a><\/span> has announced the potentially transformational acquisition of a package of advanced, large-scale uranium assets in Tanzania after entering into a binding share sale agreement to purchase 81.85% of Linx Resources, which owns 80% of the Manyoni and Octavo projects.<\/p>\n Spherical purified graphite from Lithium Energy\u2019s (ASX:LEL)<\/span><\/a> Burke project in northwest Queensland has been confirmed as highly suitable for the anode material<\/span><\/a> in lithium-ion batteries following recent electrochemical battery test work.<\/p>\n Arizona Lithium (ASX:AZL)<\/a><\/span> has inked a mining services agreement<\/span><\/a> with the Navajo Transitional Energy Company (NTEC) for permitting and future operations at its Big Sandy project.<\/span><\/p>\n Galan Lithium (ASX:GLN)<\/a><\/span> has been awarded a highly prospective tenement less than 30km south of the giant Greenbushes lithium mine in Western Australia, increasing the size of its tenure at Greenbushes South to 315km2<\/span><\/a>.<\/p>\n Nordic Nickel (ASX:NNL)<\/a><\/span> has rolled out a new resource for the Hotinvaara prospect<\/span><\/a>, which now totals 418Mt @ 0.21% nickel or 862,800t contained nickel, representing just 2% of the total 240km2\u00a0area within its wider Pulju project in Finland.<\/p>\n And drilling of ADX Energy\u2019s (ASX:ADX)<\/span><\/a> Welchau-1 gas exploration well in the ADX-AT-II exploration licence in Upper Austria is progressing faster than expected, <\/span>currently reaching a depth of 1,028m about four days ahead of the well plan due to<\/span> better than planned drilling penetration rates.<\/span><\/p>\n At Stockhead, we tell it like it is. While ADX Energy, Arizona Lithium, Dimerix, Galan Lithium, Iltani Resources, Lithium Energy, Moab Minerals and Nordic Nickel are Stockhead advertisers, they did not sponsor this article.<\/p>\n <\/span><\/p>\n The post Closing Bell: Pretty shameless ASX taken to Task on Monday<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"
\nAll 11 ASX sectors down<\/strong>
\nSmall Caps led by Task Group<\/strong><\/p>\nASX Sectors on Monday<\/h2>\n\n
ASX SMALL CAP LEADERS<\/h2>\n
ASX SMALL CAP LAGGARDS<\/h2>\n
ICYMI \u2013 PM Edition<\/h2>\n