Last Orders: Small caps rebound to finish day flat

Small caps have bounced back from a slow start to finish in the green – barely.

The Small Ordinaries index finished Friday up 2.6 points, or 0.08 per cent, to 3,318.8, slightly underperforming the All Ordinaries which rose 0.12 per cent. The Emerging Companies micro-cap index closed up 0.67 per cent to 2,108.5.

For the week the Small Ords declined 17.8 points, or 0.5 per cent, with losses Tuesday and Wednesday outweighing yesterday’s gains.

The index of Australia’s 101st to 300th biggest companies is still up 5.9 per cent for the month, however, putting it on pace for the best month since November’s 10.2 per cent rise.

Sectors were mixed Friday, with the industrial, consumer discretionary, consumer staples, tech and utilities falling and the rest gaining. Consumer discretionary was the biggest mover with its 1.0 per cent fall.

Brockman Mining (ASX:BCK) was the biggest gainer, soaring 161.5 per cent to 6.8 per cent after forming a joint venture with Mineral Resources (ASX:MIN) to explore the Ophthalmia iron ore project in Western Australia.

Small cap news

Holista Colltech (ASX:HCT) fell 7.6 per cent to 4.9c after the natural wellness company was served with a defamation claim in Singapore related to an announcement Holista made in February about how it was suspending payments to Eight Mercatus USA.

99 Technology (ASX:NNT) rose 8.3 per cent to 7.8c after the customer engagement company announced it would propose shareholders approve a change of its name to 99 Loyalty, to better reflect the nature of its business.

Antisense Therapeutics (ASX:ANP) gained five per cent to 21c after the biotech company confirmed it had met with the US Food and Drug Administration to discuss the best way for Antisense to move forward on a Phase 2b/III study on its possible treatment for Duchenne muscular dystrophy. The meeting was constructive, Antisense said.

Douugh (ASX:DOU) gained 3.0 per cent to 17c after launching a partnership with Stripe that will let its US customers fund their bank accounts instantly, rather than with transfers that can take up to three days.

Credit Intelligence (ASX:C1I) disclosed that director Wong Ka Sek had bought another 1.9 million shares for $49,750 in on-market purchases.

Monday

Ausgold (ASX:AUC) – capital raising
Raiden Resources (ASX:RDN) – portfolio increase
Magnetic Resources (ASX:MAU) – capital raising

Tuesday: 

Volt Resources (ASX:VRC) – execution of vendor agreements
Carbon Revolution (ASX:CBR) – capital raising

The post Last Orders: Small caps rebound to finish day flat appeared first on Stockhead.

Barry Stroman was a reporter for Zerg Watch, before becoming the lead editor. Barry has previously worked for Wired, MacWorld, PCWorld, and VentureBeat covering countless stories concerning all things related to tech and science. Barry studied at NYU.

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