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ASX Small Caps Lunch Wrap: Who else feels refreshed after the weekend? – Stockhead

We start the week with some happy, but super-nerdy news: one of humanity’s loneliest little satellites has finally received a software update to keep it alive.

A team from the Italian space agency messed up funding and, we suspect, found an old Windows 98 CD under the janitor’s coffee mug, allowing them to send an OS upgrade to the satellite, which has been running on it since it left Earth. a little over 19 years ago.

The European Space Agency (ESA) launched the Mars Express satellite in 2003 and sent it screaming through the solar system to do two important tasks.

First, it had to drop off a Mars rover called “Beagle 2”. Then it had to orbit Mars, probe it with low-frequency radio waves that penetrate deep into the planet’s surface, gently tickle the blushing planet until it reveals the secrets of what lurks beneath its skirts, so to speak.

Unfortunately, Mars had other ideas and brutally killed Beagle 2 when it came in for a very bumpy landing.

Mars Express, peeking into the secrets of the Red Planet as a total space perv. Photo courtesy of the European Space Agency

But the Mars Express chugs along quietly. Super lonely and with terribly outdated software, it beams information back to Earth at speeds that would test the patience of a 1,000-year-old Buddhist monk.

There are some promising results suggesting there may be an underground lake at the bottom of Mars, but nothing concrete yet, like how much lithium is lurking beneath the surface of the Red Planet. That could explain the obsession of a certain battery-operated Bond Villain-esque billionaire to send people there.

Anyway, according to Microsoft, the specific Windows 98 patch beamed to Mars Express contains several critical security updates to patch several serious vulnerabilities in the decades-old operating system.

So no more danger for space pirates who try to infect Mars Express with ransomware and demand several billion Bitcoins to unlock it…

TO MARKETS

A strong rally in the US and European markets on Friday saw the ASX 200 start the week well, with a very positive jump of better than 1.3% after holding on to last week’s stormy finish of the US and Euro. markets.

Things continued positively throughout the morning, with the benchmark approaching a 1.7% gain in the morning.

Across the market sectors, and it was really nice to see all the needles in the green this morning. The frontrunners were Energy and Materials (both up ~2.2%), which bounced back from last week’s poor performance.

Utilities and financials both outperformed 1.5%, and consumer sectors also outperformed, up more than 1.7% and short-range Staples up ~1.2%.

Today’s shooter out of the gates was a whopper of nickel minnows Widgie Nickel (ASX:WIN)after an early announcement of a groin-breaking find at the Gillette North project† The numbers look like this:

  • 12 m at 3.40% Ni from 200 m in the borehole including 5 m at 4.84% Ni from 206 m.
  • 18 m at 4.69% Ni from 246 m downhole, including 4 m at 6.35% Ni from 246 m and 5 m at 5.99% Ni from 259 m.
  • 2 m at 1.26% Ni from 277 m downhole.

Widgie’s price rocketed, rocketing through a 63.0% gain in the first hour of trading, before settling around the +40.0% range.

Among the players with nice pants, Metcash (ASX:MTS) investors jumped for joy after solid full-year results showed the company in excellent shape.

Metcash reported record group revenue of $17.4 billion, up 6.4% from last year’s efforts, despite a host of issues (COVID, war, floods… the usual stuff) the company had to overcome. .

And Sayona mining (ASX:SYA) continued its march from last week’s decline, dropping ~10.0% in early trading after the group announced another sizeable lithium find, this time at the Moblan Lithium Project in “Québec,” which is French for Canada.

Losing a few dollars in value this morning was a big miner Evolution Mining (ASX:EVN)after announcing that production forecasts are significantly lower than desirable, causing the price to drop more than 21.0% before rising slightly as lunch approached

Overseas, and on Friday, US markets had an absolute blast of a day on Friday, despite all the evidence pointing to the entire country slipping into what looks unsettlingly like a complete societal collapse over a handful of Supreme Court rulings on tinderbox issues. .

The Dow was up 2.68%, the S&P was up 3.06% and the Nasdaq was up 3.34% – and even the FTSE jumped too (3.06%). How the US market will open up after the weekend of chaos remains to be seen.

However, Asian markets are also starting the week on a positive note, with Hong Kong leading the way, up 1.77% so far. Japanese equities are also rising, up 1.04%, with Shanghai trailing behind, at a pace of +0.78%.

To commodities, where the results are mixed across the different markets. Oil (-0.15%) and gas (0.96%) have fallen despite a tightening market and a deepening economic side of the conflict in Ukraine.

The uncertain future for China’s economic situation is putting downward pressure on the energy market as the world’s largest oil consumer struggles to find its way after a storm of COVID, nearly shutting the country down.

However, precious and utility metals are enjoying a solid morning, with gold up 0.37%, silver up 114% and copper up 1.44% for lunch.

WINNERS ASX SMALL CAP

These are the best performing ASX small cap stocks for June 27 [intraday]†

Swipe or scroll to view the full table. Click on headings to sort:

Top flyer for Monday morning is Cannindah Resources (ASX:CAE)who has told the market it is heading for another major copper find in its Mt Cannindah project, with key news of a high-quality zone of 217 m @ 1.08% CU, 0.41 g/t Au, 17, 0 g/t Ag (150 m to 367 m), which translates to 217 m @ 1.47% CuEQ) occurring within a wider mineralized zone from 121 m to 416 m covering 295 m @ 0.84% ​​Cu, 0, 33 g/t Au, 13.2 g/t Ag, which translates to 295 m @ 1.14% CuEq.

It’s a great result, which the market has applauded with a stunning 43.0% price increase.

It also went really well this morning, was great news from the immuno-oncology clinical group Immunogenic (ASX:IMU)who has reported a victory in the war against advanced stomach cancer.

The announcement released by Immugene is somewhat unfathomable reading, but the gist of it is that the Phase 2 trial of HER-Vaxx in Her-2/Neu overexpressing advanced/metastatic gastric/GEJ cancer (I told you!) survival of 41.5% has shown. benefit for patients treated with HER-Vaxx plus SOC chemotherapy compared to SOC chemotherapy alone.

And good news this morning for the sub-penny fightr Bike Exchange (ASX:BEX)which the team in the Stockhead newsroom has been hanging with defibrillator panels at the ready for several weeks.

The results of the recent rights offering, which just brought in $2 million in the company, and a 7.2% buy-in from Melbourne fund managers HG Hiscock, have cranked up the pedals to take BEX with more than 57% of the floor. to get. this morning. Go, you little warrior.

However, the announcement that non-executive director Dominic O’Hanlon has elected to take his $60,000 annual fee in stock, rather than a cash payment, hasn’t moved the needle.

ASX SMALL CAP LOSERS

These are the worst performing ASX small cap stocks for June 24 [intraday]†

Swipe or scroll to view the full table. Click on headings to sort:

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