Aussie markets are slightly ahead at lunchtime on Wednesday following the Reserve Bank of Australia\u2019s decision to keep interest rates steady on Tuesday.<\/p>\n
At lunchtime in Sydney on Wednesday March 20, the S&P\/ASX 200 was thusly:<\/p>\n
Via Google<\/p>\n
Aside from the Energy sector which is driving the morning gains, ahead more than 1%, all other ASX sectors are trading within a fairly tight range of parity. It really does look like anyone\u2019s game at half-time.<\/p>\n
US markets kicked ahead overnight. Wall Street will be struggling with their own pre-interest rate decision butterflies as the boffins at the US Federal Reserve emerge from their two-day brain jam. Bets point toward a pause, despite the impressive resilience of the US economy.<\/p>\n
The benchmark closed 27.40 points, or 0.36% higher on Tuesday to 7,703.20 to cross above its 20-day moving average, after the Reserve Bank of Australia (RBA) kept rates on hold.<\/p>\n
Our cash rate\u2019s been steady at 4.35% since November last, tho, that\u2019s a 12-year high.<\/p>\n
The central bank\u2019s\u00a0 inflation target range of 2-3% is decently higher than the Americans who\u2019re aiming at 2%, but remember \u2013 we started raising later than most other adult economies and while January\u2019s CPI of 3.4% beat consenus as the lowest annual rate in almost three years, last week\u2019s February CPI looked stickier than expected.<\/p>\n
This is your only take home really:<\/p>\n
\u201cThe Board expects that it will be some time yet before inflation is sustainably in the target range.\u201d<\/p>\n
\u00a0<\/p>\n
On Wall Street overnight, the S&P 500 closed 0.65% higher, the tech-focused NASDAQ index gained 0.4% and the Dow Jones was up 0.8%.<\/p>\n
The Fed\u2019s decisive statement drops at 5am (AEDT) on Thursday and I\u2019m going to watch it while I do my 35-minute morning plank.<\/p>\n
It\u2019s my date with trusty US Fed Chair J. Powell.<\/p>\n
Meanwhile the US corporate story is a familiar one.<\/p>\n
Mega Tech drove gains.<\/p>\n
This time it was Apple (APPL), Nvidia (NVDA), Microsoft (MSFT) and the other one\u2026 while Tesla (TSLA), Alphabet (GOOGL), and Meta (META) all missed a trick.<\/p>\n
Nvidia\u2019s highly anticipated chip launch, led by CEO Jensen Huang at its \u2018AI Woodstock\u2019 event on Monday night has been soemthing of a fizzle so far.<\/p>\n
The AI chipmaker was supposed to drop all sorts of revelations over the new AI chip generation, but judging by the volatility overnight \u2013 down 3% before lunch, ahead 1% by the close \u2013 the punters are still trying to read the momentum.<\/p>\n
Oil prices are higher.<\/p>\n
Iron ore has lifted overnight.<\/p>\n
Gold is flat and copper down.<\/p>\n
The Aussie dollar fell after the RBA weren\u2019t hawkish.<\/p>\n
Bitcoin is down 10% after hitting its records high last week. Ask Robert.<\/p>\n
\u00a0<\/p>\n
A few shares we tracked from before the open on Wednesday:<\/p>\n
This morning the Hemsworths of Aussie Rare earth hunting \u2013 Ragnar Metals (ASX:RAG)<\/strong><\/a> \u2013 released geophysical results from its Olserummm North Heavy Rare Earth Project in Sweden, \u00a0including multiple highly magnetic trends over \u201ca well-defined corridor measuring 4.5km long and 500m-1km wide,\u201d where no previous sampling has been completed.<\/p>\n RAG says six new magnetic trends indicate high-density targets and that\u2019s what\u2019s highly prospective for HREE mineralisation\u2026 so the next step will be reconnaissance field sampling which RAG says kicks off shortly.<\/p>\n Eh. There\u2019s an enterprise loyalty and rewards company called Gratifii (ASX:GTI)<\/strong><\/a> \u2013 they\u2019ve inked two new agreements with the (always in the headlines) payments firm EML Payments (ASX:EML)<\/strong><\/a>.<\/p>\n GTI says the deal will deliver prepaid debit cards to GTI\u2019s Australian clients and access the range of rewards available to EML\u2019s clients.<\/p>\n And the quirky medtech, Doctor Care Anywhere Group PLC (ASX:DOC)<\/strong><\/a> says it\u2019s launched a partnership with home health test provider Medichecks to become its preferred provider of GP consultations for customers wanting advice on test results.<\/p>\n DOC says basically the partnership funnels Medichecks\u2019 customers with a Doctor Care Anywhere GP to follow up.<\/p>\n \u00a0<\/p>\n At half-time in Sydney, US futures are mixed.<\/p>\n \u00a0<\/p>\n Via Fox<\/p>\n \u00a0<\/p>\n Here are the best performing ASX small cap stocks for\u00a0<\/strong>March 20 [intraday]:<\/strong><\/p>\n Swipe or scroll to reveal full table. Click headings to sort:<\/em><\/p>\n Code Company Price % Volume Market Cap LRD Lord Resources 0.11 116% 13,855,639 $1,893,738 JAV Javelin Minerals Ltd 0.002 100% 250,000 $2,176,231 ADS Adslot Ltd. 0.003 50% 3,000,000 $6,448,991 LIO Lion Energy Limited 0.037 48% 19,034,792 $10,924,444 SRX Sierra Rutile 0.105 35% 4,744,297 $33,090,443 C29 C29 Metals 0.091 30% 4,025,834 $3,777,684 PBL Parabellum Resources 0.07 30% 30,000 $3,364,200 SOV Sovereign Cloud Holdings 0.042 28% 2,721 $11,126,776 PEK Peak Rare Earths Ltd 0.235 27% 1,592,964 $49,199,226 AVD Avada Group Limited 0.62 25% 125,772 $42,042,837 SGC Sacgasco Ltd 0.01 25% 986,272 $6,237,497 AQX Alice Queen Ltd 0.006 20% 1,359,205 $3,454,921 BLZ Blaze Minerals Ltd 0.006 20% 58,262 $3,142,791 LPD Lepidico Ltd 0.006 20% 5,003,108 $38,191,540 TGN Tungsten Mining NL 0.1 18% 38,796 $66,845,213 ACS Accent Resources NL 0.007 17% 293 $2,838,764 AVE Avecho Biotech Ltd 0.0035 17% 400,000 $9,507,891 EXL Elixinol Wellness 0.007 17% 195,028 $3,797,230 TMG Trigg Minerals Ltd 0.007 17% 72,500 $2,511,296 CCM Cadoux Limited 0.074 16% 550,405 $23,482,726 ASV Asset Vision Co 0.016 14% 513,010 $10,161,712 TG6 TG Metals 0.25 14% 570,298 $11,898,957 LBT LBT Innovations 0.025 14% 5,456,124 $29,123,192 WNX Wellnex Life Ltd 0.025 14% 364,609 $24,611,178 ICU Investor Centre Ltd 0.026 13% 257,566 $6,973,555 <\/p>\n WordPress Table Plugin<\/a><\/p>\n \u00a0<\/p>\n Out front on Wednesday morning is lithium hopeful Lord Resources (ASX:LRD)<\/strong><\/a> which now has a strategic partnership with high-flying Mineral Resources (ASX:MIN)<\/strong><\/a> after securing a farm-in agreement out at the Horse Rocks Lithium Project.<\/p>\n MD Barnaby Egerton-Warburton is stoked.<\/p>\n \u201cThe agreement validates the strong work Lord has already completed at the Horse Rocks Lithium Project and provides the opportunity to collaborate with a world-class exploration team drawing on their knowledge and expertise of this highly prospective lithium region,\u201d Egerton-Warburton says.<\/p>\n Subject to the satisfaction of conditions \u2013 including MinRes completing satisfactory due diligence on the tenement \u2013 MinRes will spend $1m in exploration, to earn 40% of the project.<\/p>\n Lord says the Farm-in Agreement will let it maintain exposure to a high-value project while also going in hard on the exploration at its Jingjing Lithium Project.<\/p>\n It\u2019s a lithium pincer movement.<\/p>\n Meanwhile, Lion Energy (ASX:LIO)<\/a>\u00a0has development approval for its hydrogen generation and refuelling hub project at the Port of Brisbane, with construction to kick off Q2 this year.<\/p>\n As you can see from this excellent visual, it\u2019s close to 70+ bus depots\u2026 wait for it\u2026<\/p>\n \u00a0<\/p>\n \u2026 which is handy because LIO says the strategic location will allow the hub to initially focus on supplying hydrogen to domestic public bus fleets, truck fleets and fuel cell gensets and other customers across the construction and mining industry.<\/p>\n And Sierra Rutile (ASX:SRX)<\/strong><\/a>\u00a0has had a busy morning, although in the rutile game an unsolicited takeover offer is always a welcome hassle.<\/p>\n A quick refresher \u2013 Sierra runs multi-deposit mineral sands mining in Sierra Leone a gig which has made it \u201cthe largest producer of natural rutile in the world.\u201d<\/p>\n And rutile?<\/p>\n Well. Rutile is the highest-grade naturally occurring TiO2 feedstock used to make pigments, laminates, plastic stuff and packaging, inks, clothing, sunscreen, toothpaste\u2026 it\u2019s all over the cosmetic industry.<\/p>\n It\u2019s handy for a welding electrode as well as being used to make titanium.<\/p>\n PRM Services made the bid and this is what the SRX Board suggests should be done with it\u2026<\/p>\n Via ASX<\/p>\n Here are the most-worst performing ASX small cap stocks for March 20 [intraday]:<\/strong><\/p>\n Swipe or scroll to reveal full table. Click headings to sort:<\/em><\/p>\n <\/strong><\/p>\n Code Company Price % Volume Market Cap CLZDC Classic Minerals 0.009 -82% 9,380,507 $12,890,085 AXP AXP Energy Ltd 0.001 -50% 640,000 $11,649,361 NGS NGS Ltd 0.009 -25% 461,587 $3,014,729 CLV Clover Corporation 0.615 -24% 165,409 $134,434,470 PLC Premier1 Lithium Ltd 0.028 -22% 320,000 $6,284,667 S66 Star Combo 0.12 -20% 4,467 $20,262,447 AL8 Alderan Resource Ltd 0.004 -20% 396,039 $5,534,307 MTB Mount Burgess Mining 0.002 -20% 139,851 $2,612,034 PUR Pursuit Minerals 0.004 -20% 57,437 $14,719,857 ROG Red Sky Energy 0.004 -20% 46,999 $27,111,136 CG1 Carbonxt Group 0.071 -19% 276,917 $28,593,105 GSM Golden State Mining 0.01 -17% 210,029 $3,352,448 OMX Orange Minerals 0.023 -15% 100,000 $2,315,255 LYN Lycaon Resources 0.15 -14% 18,854 $7,709,844 AML Aeon Metals Ltd. 0.006 -14% 369,212 $7,674,804 HHR Hartshead Resources 0.006 -14% 2,378,579 $19,660,775 WBE Whitebark Energy 0.019 -14% 75,601 $3,602,327 ALA Arovella Therapeutic 0.135 -13% 3,131,984 $143,399,217 AUH Austchina Holdings 0.0035 -13% 250,000 $8,311,535 GMN Gold Mountain Ltd 0.0035 -13% 5,619,055 $9,111,514 OSL Oncosil Medical 0.007 -13% 5,553,927 $15,796,329 UBI Universal Biosensors 0.215 -12% 1,322,058 $52,030,512 BM8 Battery Age Minerals 0.11 -12% 179,952 $11,470,040 CCO The Calmer Co International 0.004 -11% 18,585,653 $5,322,135 <\/p>\n WordPress Table Plugin<\/a><\/p>\n \u00a0<\/p>\n Eagle Mountain Mining (ASX:EM2)<\/strong><\/a> has collected $4.18 million from a renounceable entitlement offer which closed last Friday.<\/p>\n Funds will put towards upcoming field work at both of the company\u2019s projects in Arizona, but predominately focused at Silver Mountain where significant uranium, thorium and rare earths mineralisation was recently discovered.<\/p>\n A scoping study is also planned for the Oracle Ridge copper project using a simplified processing flowsheet void of smelting and refining beyond the mine gate.<\/p>\n EM2 managing director Charlie Bass subscribed to $1.25 million as the partial underwriter of the offer.<\/p>\n At Stockhead, we tell it like it is. While Eagle Mountain Mining is a Stockhead advertiser, it did not sponsor this article.<\/em><\/p>\n <\/span><\/p>\n The post ASX Small Cap Lunch Wrap: Flat local markets seek direction on Wednesday<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"ASX SMALL CAP LEADERS<\/strong><\/h2>\n
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ASX SMALL CAP LAGGARDS<\/strong><\/h2>\n
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In Case You Missed It<\/h2>\n