Local markets recover early losses to close slightly ahead
\nMaterial and Financial gains offset IT and Property losses
\nSmall Caps led by ADX Energy<\/p>\n
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Aussie share markets have recovered from early losses to close Monday, ever so slightly into the green.<\/p>\n
The S&P\/ASX200 closed higher on Monday, March 18, up 5.5 points or 0.07% to 7,675.80.<\/p>\n
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Via Google<\/em><\/p>\n In Singapore, the iron ore futures which collapsed into hit a 7-month low of $US98 a tonne on Friday, have made something of an unexpected recovery on Monday, with the key steel making ingredient pushing back above the century mark to $US103.00.<\/p>\n Local investors hit pause for most of Monday to watch, listen and learn about monetary policy and any looming directions on the timing of interest rate cuts.<\/p>\n This week is a feast of central banking, with cash rate decisions ahead from major central banks like the US Fed, the BoJ, the BoE and the RBA, which makes a call on Aussie rates tomorrow at 2.15pm.<\/p>\n Meantime, this afternoon we\u2019ve had a fair bit of data roll out of China.<\/p>\n Firstly \u2013 and it\u2019s not a reading worth worrying too much about \u2013 but China\u2019s official jobless number came in at 5.3% over January and February, compared with 5.1% in December. That\u2019s urban unemployed. While that seems like an incredibly low number, it is in fact the highest since last July.<\/p>\n We also discovered China\u2019s monthly industrial production and fixed assets investment data beat estimates,\u00a0 rising \u00a07% year-on-year which handsomely beat the 5.2% expectation of economists polled by Reuters.<\/p>\n Elsewhere, fixed assets investment rose to 4.2% vs 3.2% expected.<\/p>\n Retail sales were soft, at 5.5% vs 5.6%expected.<\/p>\n Property investment has continued to decline sharply \u2013 down 9% vs 8% forecast.<\/p>\n Of the 11 ASX sectors by the close on Monday it was a pretty even six\/five split, green vs red.<\/p>\n \u00a0<\/p>\n \u00a0<\/p>\n \u00a0<\/p>\n \u00a0<\/p>\n \u00a0<\/p>\n Ariadne Australia (ASX:ARA)<\/strong><\/a>\u00a0is paying 0.25 cents fully franked \u00a0<\/p>\n Last week, oil prices jumped nearly 4% as the International Energy Agency (IEA) got all bullish over demand.<\/p>\n Today in Sydney, WTI crude futures also moved higher with more than enough geopolitical risk to go round for all.<\/p>\n In the Middle East, under-fire Israeli Prime Minister Benjamin Netanyahu says plans are afoot to send the army into Gaza\u2019s Rafah enclave, while Russian oil refineries look like staying within reach of drone strikes from Kiev.\u00a0<\/span><\/p>\n \u00a0<\/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 ADX ADX Energy Ltd 0.23 100% $27,510,692 $49,315,806 PUA Peak Minerals Ltd 0.003 50% $5,250,000 $2,082,753 MMM Marley Spoon Se 0.087 34% $688,828 $7,652,086 1AG Alterra Limited 0.004 33% $247,547 $2,612,072 HXG Hexagon Energy 0.022 29% $4,460,560 $8,719,570 CLU Cluey Ltd 0.09 29% $64,888 $14,112,950 DVL Dorsavi Ltd 0.019 27% $82,315,676 $8,949,924 NFL Norfolkmetalslimited 0.145 26% $461,508 $4,078,968 1CG One Click Group Ltd 0.01 25% $127,666 $5,505,431 ESR Estrella Res Ltd 0.005 25% $156,627 $7,037,487 HLX Helix Resources 0.005 25% $6,617,602 $9,292,583 OSX Osteopore Limited 0.066 23% $75,263 $554,031 E25 Element 25 Ltd 0.265 20% $544,756 $47,856,674 FLN Freelancer Ltd 0.21 20% $214,763 $78,910,104 IVX Invion Ltd 0.006 20% $130,000 $32,122,661 LPD Lepidico Ltd 0.006 20% $2,647,524 $38,191,540 SIS Simble Solutions 0.006 20% $319,166 $3,495,195 POL Polymetals Resources 0.275 20% $72,183 $36,252,096 TG1 Techgen Metals Ltd 0.034 17% $238,623 $3,686,844 AML Aeon Metals Ltd. 0.007 17% $449,953 $6,578,404 AYT Austin Metals Ltd 0.007 17% $922 $7,711,148 EPM Eclipse Metals 0.007 17% $1,151,479 $12,450,325 TMG Trigg Minerals Ltd 0.007 17% $100,000 $2,511,296 BKT Black Rock Mining 0.079 16% $6,304,030 $74,628,124 TG6 Tgmetalslimited 0.22 16% $304,115 $10,276,372 <\/p>\n WordPress Table Plugin<\/a><\/p>\n Twice as good as it was this morning\u00a0is the share price of ADX Energy (ASX:ADX),<\/a><\/span>\u00a0who\u2019s dream of making a transformational gas find in Upper Austria has received a massive boost after the Welchau-1 exploration well intersected 115m of condensate rich gas shows<\/span><\/a> in the primary target formation.<\/p>\n \u201cThe well has intersected 115 metres of condensate rich gas shows in the primary target formation at a depth close to the pre drill prognosis,\u201d says ADX executive chairman Ian Tchacos.<\/p>\n Results include:<\/p>\n \u2013 115 metres of liquids rich gas shows intersected in the primary target formation \u201cSteinalm Formation\u201d at depth between 1452 metres and 1567 metres. The deepest gas shows were encountered in the well at a depth of 1645 metres MD. Seal quality and thickness was a key risk that has been mitigated based on the results of Welchau-1, says Mr Tchacos.<\/p>\n Dropping half year numbers today is Hexagon Energy Materials- (ASX:HXG)<\/strong><\/a> who let slip that \u201cConfidential commercial discussions have progressed with potential gas suppliers, CCS service providers, infrastructure owners, utility providers and ammonia customers\u201d.<\/p>\n The company says it has received confidential indicative pricing from third parties.<\/p>\n These have \u201creduced uncertainty and have tended to come in under PFS Base Case assumptions, providing opportunities to improve project economics.\u201d<\/p>\n An economic update will be provided by the company ahead of FEED-entry once the ongoing confidential commercial discussions are completed.<\/p>\n Local AI aspirant Dorsavi (ASX:DVL)<\/strong><\/a>\u00a0 \u2013 a developer of FDA approved wearable sensors and \u201cleader in human movement analytics,\u201d is says it\u2019s successfully integrated real-time facial tracking into its suite of AI-powered video tracking stuff \u2013\u00a0 available in its ViMove+ platform.<\/p>\n \u00a0<\/p>\n Today\u2019s worst 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 JAV Javelin Minerals Ltd 0.001 -50% $207,851 $4,352,462 AOA Ausmon Resorces 0.002 -33% $459,968 $3,176,998 BP8 Bph Global Ltd 0.001 -33% $501,934 $2,931,174 WNR Wingara Ag Ltd 0.011 -27% $133,577 $2,633,138 OZM Ozaurum Resources 0.054 -26% $1,822,050 $11,588,750 AUK Aumake Limited 0.003 -25% $1,788,788 $7,657,627 AVE Avecho Biotech Ltd 0.003 -25% $12,190,613 $12,677,188 PIQ Proteomics Int Lab 0.945 -24% $1,218,267 $163,615,770 NVO Novo Resources Corp 0.13 -24% $461,133 $14,918,270 AEE Aura Energy 0.17 -23% $14,951,910 $130,346,627 SNX Sierra Nevada Gold 0.062 -23% $11,957 $4,831,663 CAV Carnavale Resources 0.004 -20% $4,701,917 $17,117,759 NVQ Noviqtech Limited 0.004 -20% $3,428,593 $7,422,226 PRX Prodigy Gold NL 0.004 -20% $923,740 $8,755,539 TMK TMK Energy Limited 0.004 -20% $9,646,608 $30,612,897 VAL Valor Resources Ltd 0.002 -20% $38,810 $11,472,533 FLX Felix Group 0.145 -19% $19,175 $36,809,948 BCK Brockman Mining Ltd 0.024 -17% $2,010 $269,126,732 BIM Bindimetalslimited 0.1 -17% $184,059 $3,471,300 INP Incentiapay Ltd 0.005 -17% $190,147 $7,463,580 NRX Noronex Limited 0.01 -17% $2,442,199 $4,539,621 PKO Peako Limited 0.005 -17% $1,891,649 $3,162,508 SPQ Superior Resources 0.01 -17% $1,880,306 $24,014,645 YAR Yari Minerals Ltd 0.005 -17% $374,646 $2,894,147 MAG Magmatic Resrce Ltd 0.066 -16% $1,015,481 $30,149,477 <\/p>\n WordPress Table Plugin<\/a><\/p>\n \u00a0<\/p>\n Fintech lender MoneyMe (ASX:MME)<\/span><\/a> has gained a greater slice of Australia\u2019s automotive financing sector after securing a deal with its debt funders to extend and double its Autopay warehouse facility from $375 million to $750 million.<\/p>\n Sprintex (ASX:SIX)<\/a><\/span> has inked $350,000 in purchase orders and engineering fees for its clean energy air compressors and associated technology programs, while its G Series high-speed industrial blowers are also gaining in popularity.<\/p>\n New World Resources (ASX:NWC)<\/a><\/span> has reinforced confidence in the resource model for its Antler copper deposit in Arizona after hydrogeological holes<\/span><\/a> returned some very thick, high-grade intersections.<\/p>\n Uranium developer Aura Energy (ASX:AEE)<\/span><\/a> has raised $16.2 million through a placement<\/span><\/a> and is offering eligible shareholders the chance to participate in a share purchase plan for a further $2 million, to advance its 58.9Mlb Tiris project in Mauritania towards development and support further work at Haggan in Sweden.<\/p>\n Graphite explorer iTech Minerals (ASX:ITM)<\/span><\/a> has encountered thick, continuous graphite mineralisation over a 1.7km strike length, with grades of up to 10% total graphite carbon<\/span><\/a>, at the Lacroma Central prospect on South Australia\u2019s Eyre Peninsula.<\/p>\n Elsewhere in the Festival State, Taiton Resources (ASX:T88)<\/span><\/a> has expanded its initial exploration focus at the Highway project with a ultra-fine (UF) soil sampling program across three new prospects.<\/p>\n Belararox (ASX:BRX)<\/a><\/span> has identified characteristics of a high sulphidation setting or the potential upper levels of a porphyry system through early-stage field activities<\/span><\/a> at its Toro-Malambo-Tambo (TMT) South project in Argentina.<\/p>\n And Recharge Metals (ASX:REC)<\/span><\/a> has finalised the acquisition of the Newnham uranium project in Canada\u2019s Athabasca Basin<\/span><\/a>, along with a $1.44 million share placement to accelerate its initial exploration activities at the newest addition to its North American portfolio.<\/p>\n At Stockhead, we tell it like it is. While ADX Energy, Aura Energy, Belararox, iTech Minerals, MoneyMe, New World Resources, Recharge Metals, Sprintex and Taiton Resources are Stockhead advertisers, they did not sponsor this article.<\/p>\n <\/span><\/p>\n The post Closing Bell: Local markets have made just a terrific recovery as iron ore bounces back<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"ASX Sectors at 4.15pm on Monday\u00a0<\/h2>\n\n
These local stocks went ex-divvy today:<\/strong><\/h2>\n
\nCAR Group Limited (ASX:CAR)<\/a><\/strong>\u00a0is paying 34.5 cents 50 per cent franked
\nDuratec (ASX:DUR)<\/strong><\/a>\u00a0is paying 1.5 cents fully franked
\nKaizen Global Inv (ASX:KGI)<\/a><\/strong>\u00a0is paying 5 cents fully franked<\/p>\nWe\u2019re watching oil\u2026<\/strong><\/h2>\n
US stock futures rose on Monday in Sydney:<\/strong><\/h2>\n\n
ASX SMALL CAP LEADERS<\/h2>\n
\n\u2013 The Steinalm Formation intersection in the well is in line with the pre-drill prognosis providing confidence in the structural model for Welchau.
\n\u2013 The Steinalm Formation intersected in Welchau is the same zone that flowed condensate rich gas in the nearby Molln-1 well at a rate of 4 MMSCFPD in 1989.
\n\u2013 Compositional analysis from gas shows at Welchau indicates very similar condensate rich gas to the gas tested at the Molln-1 well.
\n\u2013 The well has encountered 380 metres of effective seal \u201cThe Lunz Formation\u201d above the main target.<\/p>\nASX SMALL CAP LAGGARDS<\/h2>\n
ICYMI \u2013 PM Edition<\/h2>\n