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Small Caps Left Behind in Favor of Blue Chips Gain

Small caps have dipped slightly, while their larger peers have gained. The Small Ordinaries index fell 2.6 points on Monday, … Read More
The post Last Orders: Small caps left behind as blue chips gain appeared first on Stockhead.

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Small caps have dipped slightly, while their larger peers have gained.

The Small Ordinaries index fell 2.6 points on Monday, or 0.08 per cent, to 3,195.6, while the ASX100 gained 0.73 per cent and the All Ordinaries gained 0.51 per cent.

The Emerging Companies index did even worse, dropping 0.76 per cent to 2,036.4.

Every sector except mining rose, with energy the biggest gainer, climbing 2.8 per cent after a rise in oil prices.

The materials sector declined 0.47 per cent as iron ore futures dipped, although gold miners fared better as the price of the precious metal climbed.

Tech was subdued at 0.35 per cent.

Small cap news

Red Sky Energy (ASX:ROG) gained 50 per cent to 0.3c after announcing that drilling had found more oil than expected at its Killanoola oilfield in South Australia.

Thomson Resources (ASX:TMZ) fell 3.6 per cent to 13.5c after the diversified mineral explorer announced it would raise $5.4 million in a share placement at 12c a share. Major US institutional investors EuroPac Gold Fund are participating.

AusCann Group (ASX:AC8) fell 3.3 per cent to 14.5c after announcing it had finalised the sale of its half-stake to its Chilean joint venture, DayaCann. AusCann has received $US500,000 ($647,000) in consideration, with two more payments totalling $US1 million ($1.29 million) due over the next two years.

Pure Hydrogen Corp (ASX:PH2) fell 9.5 per cent to 28.5c after the energy company announced a $9.4 million placement to fund its hydrogen projects.

Trading halts

Tuesday 

Respiri (ASX:RSH) – FDA application outcome
Energy World Corporation (ASX:EWC) – capital raising

Wednesday 

K-Tig (ASX:KTG) – defence agreement
Story-I (ASX:SRY) – ASX query response
Torian Resources (ASX:TNR) – capital raising
Rightcrowd (ASX:RCW) – capital raising
Alta Zinc (ASX:AZI) – capital raising
Invictus Energy (ASX:IVZ) – capital raising
Element 25 (ASX:E25) – capital raising

The post Last Orders: Small caps left behind as blue chips gain appeared first on Stockhead.

Author: Derek Rose

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