Lunch Wrap: Who’s wooing who today?

The ASX 200 is having a good Friday, rising by 1.17 per cent at the halfway point.

Nine of 11 sectors rose, with Materials leading the way with a 2.2 per cent gain. Tech and Utilities were the only sectors to have fallen at lunch.

The positive sentiment has trickled down to the small cap stocks, with both the Small Ordinaries Index (+0.60%) and the nano-cap Emerging Companies index (+0.9o%) rising.

The major news on the ASX this morning has centred around Betmakers’ (ASX:BET) offer to buy out Tabcorp’s (ASX:TAH) wagering business for $4 billion.

Tabcorp’s share price rose by almost 3 per cent, while Betmakers plunged 13 per cent after the announcement.

Shares in chicken and turkey company, Inghams (ASX:ING), rose by 9 per cent after it upgraded its profit forecast for the full year to exceed prior forecasts.

Oncology company Imugene (ASX:IMU) and A2 Milk (ASX:A2M) have both risen by 7pc and 3pc respectively on no specific news.

Onto small caps…


Here are the best performing ASX small cap stocks at 12pm Friday May 28:

Swipe or scroll to reveal the full table. Click headings to sort.

Audalia Resources (ASX:ACP) was the biggest gainer at lunch time in small caps, rising by 77 per cent on no new announcements.

Medical imaging company, Singular Health (ASX:SHG), has been rising since yesterday, after it announced shareholders approval for acquiring Virtual Surgical Planning, a move that will launch the company into the $4.5 billion medical 3D printing market.

Austco Healthcare (ASX:AHC) rose by almost 10 per cent, after saying that it expects improved profit for the full year to $2.8-$3.3 million, from the $2.5 million in FY20. The company provides technology for healthcare including nurse call systems and enterprise reporting and analytics tools.

Another company to have provided an upgraded guidance was Aussie Broadband (ASX:ABB), which rose by 1 per cent this morning, after estimating that full year earnings will come in at between $17-$20 million, compared to the $12.3m prospectus forecast.


Here are the worst performing ASX small cap stocks at 12pm Friday May 28:

Swipe or scroll to reveal the full table. Click headings to sort.


The post Lunch Wrap: Who’s wooing who today? 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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