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TGIF Top 10 ASX Companies



10 ASX Companies That Performed On Top Today - 22 May 2020

The S&P/ASX200 Index went up 1.7 percent for the week despite falling slightly on Friday to register a 1 percent drop, after China reduced its annual GDP forecast to put a downward pressure on resource providers.

The Mining blue chips went mostly in the red, with Rio Tinto (ASX:RIO) succumbing to a 2 percent drop after the bell on Friday. BHP Group (ASX:BHP) and Fortescue Metals Group (ASX:FMG) both fell 0.6 percent and 0.2 percent respectively.

Banking blue chips felt the heat as well with concerns over slow economic growth. Commonwealth Bank (ASX:CBA) shed 0.6 percent and National Australia Bank (ASX:NAB) gave up 1.2 percent.

Other blue chips that joined the slump includes biopharmaceutical giant CSL (ASX:CSL) losing 2.4 percent, having suffered their fourth straight trading days of losses. On a slightly positive note, Sydney Airport (ASX:SYD) firmed 2 percent as tourism and aviation sector begins to pick up after months of travel restrictions.

Top 10 Performing ASX Companies Today With Market Cap Above AUD 50M

EMvision Medical Devices Ltd (ASX:EMV)
Earlier in May, EMV appointed CEO, Dr Ron Weinberger, as their Managing Director giving him more control over the company’s day-to-day operations. EMV recommenced clinical trial enrolment for patients last week at Brisbane’s Princess Alexandra Hospital for their proprietary portable brain imaging device in stroke patients. Their enrolments were halted previously due to the COVID-19 pandemic outbreak but since the flattening of the curve at Queensland, EMV is hoping to stay on track for the initially planned six-month timeframe.

Archer Materials Ltd (ASX:AXE)
Archer Materials hit the top spot last Monday when it gained over 41% in a single trading day. Today, it took the second gainers spot at 18.89%. AXE announced on 11 May that the company’s exclusively licensed European patent application filed under the Patent Cooperation Treaty to protect and commercialise intellectual property associated to the 12CQ quantum computing chip materials technology (“IP”), has now proceeded to the substantial examination stage in Europe.

Motorcycle Holdings Ltd (ASX:MTO)
MTO moved to the top 3 spot today after gaining 18.57% on its road to recovery ever since the turnaround in share price since 25 March. As quoted from MTO’s website: “MotorCycle Holdings is Australia’s leading motorcycle dealership and accessories group with 48 franchises operated from 31 dealership and 8 retail accessory locations in Queensland, New South Wales, Victoria and the Australian Capital Territory. MotorCycle Holdings’ core business consists of the ownership and operation of motorcycle dealerships and retail accessories outlets engaging in the sale of new motorcycles, used motorcycles, accessories and parts, finance, insurance and warranty as well as service and repair. MotorCycle Holdings also owns and operates a rider training school and a motorcycle repair business which performs smash repair work for insurers. In October 2017 the Group acquired of Cassons Pty Ltd and now also operates a motorcycle accessories wholesaling business. The Company represents a diverse portfolio of brands. In the new motorcycle category MotorCycle Holdings sells 8 of the top 10 selling motorcycle brands in Australia (by number of new motorcycle sales). In 2018 these 8 brands represented 88% of Australian new motorcycle volume. In the used motorcycle category the Company sells all of the top 10 selling brands (by number of used motorcycle sales) in Australia.”

Agrimin Ltd (ASX:AMN)
On Monday, Agrimin surged 23% after the Australian Government approved major project status for Agrimin’s (AMN) Mackay Potash Project in Western Australia – i.e the project can now receive additional government support. This approval lasts for three years which should be sufficient time to advance the project through approvals, project funding, and construction. Today, they trade at 16.46% higher to close the week to close almost 44% higher for the week.

HT&E Ltd (ASX:HT1)
Media and radio broadcast company HT1 rose 15.32% today having recently declaring that radio listenership was up during this COVID-19 periods. On 9 April, HT1 forked out AUD 15 million to buy a 4.2 percent stake in oOh!media while letting go its own outdoor advertising business, Adshel, in 2018 for AUD 570 million in cash. Today, oOh!media is worth approximately AUD 600 million in market value.

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