Top 10 at 11: ASX rises 0.49pc as sentiment flips once again
With the market opening at 10am sharp eastern time, the data is taken at 10.15am in the east, once trading kicks off in earnest.
In brief, this is what the market has been up to this morning.
ASX flips the script once again
It can be a challenge to get a handle on the market's mood these days. On Tuesday, the ASX200 hit a new record closing high, adding more than 0.7% in a single day. Within 24 hours, we'd reversed the vast majority of that progress, down almost 0.8%.
This morning, things are looking up again.
The ASX 200 has risen 0.49% in the first half hour of trade, gaining broadly across sectors.
Financials is leading, adding 0.79% with some strong support from the ASX 200 Banks index (+0.77%), while energy lags 0.05% as the only sector in the red.
Both the Australian dollar and gold gained ground against the US dollar overnight during a very volatile US session that saw the S&P500 plunge 1% before recovering about as much to finish up 0.3%.
That's set the stage for some stirrings of momentum in the gold and resources indices, which have been struggling in recent days.
Let's check out which small caps are making the most of the market recovery.
WINNERS
Code Name Last % Change Volume Market Cap
BP8 Bph Global Ltd 0.003 50% 6618113 $2,101,969
HLX Helix Resources 0.0015 50% 370907 $3,364,194
RPG Raptis Group Limited 0.19 46% 77944 $45,589,031
CCO The Calmer Co Int 0.004 33% 174068 $9,034,060
TOU Tlou Energy Ltd 0.033 27% 3000 $33,763,192
RGL Riversgold 0.005 25% 50000 $6,734,850
VEN Vintage Energy 0.005 25% 2950040 $8,347,655
ADG Adelong Gold Limited 0.006 20% 2395305 $11,243,383
IND Industrialminerals 0.155 19% 25135 $10,441,925
ENV Enova Mining Limited 0.007 17% 1085546 $8,745,600
In the news...
BPH Global (ASX:BP8) has bumped up its seaweed sale revenue for the June sales period, lifting total revenue by 17.7% to a little over $177,000.
The sales were made to wholesale buyers in Indonesia, with new international contracts already in the pipeline for the July reporting period.
Vintage Energy (ASX:VEN) has offloaded its interest in the PEP 171 to Beach Energy (ASX:BPT) in return for $1.25m.
At the same time, VEN is launching a suite of production improvement measures at the Odin and Vali gas field. If successful, management estimates an uplift in gas production of between 2.1MMscf/d and 5.6MMscf/d, potentially paying back the cost of the program within three months.
Adelong Gold (ASX:ADG) has officially transitioned into gold producer status after achieving first gold pour at the Challenger gold mine in NSW.
ADG is celebrating the success of its partnership with project operator Great Divide Mining (ASX:GDM) in reaching this milestone, as the two companies work to realise the value of Challenger's 188,000oz gold bounty.
LAGGARDS
Code Name Last % Change Volume Market Cap
ERL Empire Resources 0.004 -33% 500000 $8,903,479
EEL Enrg Elements Ltd 0.0015 -25% 100001 $6,507,557
SHP South Harz Potash 0.003 -25% 1195668 $5,132,248
SRN Surefire Rescs NL 0.0015 -25% 1035593 $6,457,219
ROG Red Sky Energy. 0.004 -20% 439799 $27,111,136
HIO Hawsons Iron Ltd 0.0165 -18% 3428918 $20,330,027
SWP Swoop Holdings Ltd 0.11 -15% 20156 $27,882,220
ADR Adherium Ltd 0.006 -14% 733942 $9,708,707
ANR Anatara Ls Ltd 0.006 -14% 6575 $1,493,686
EMU EMU NL 0.024 -14% 20459 $5,914,957
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