Closing Bell: One ASX uranium stock stood out in a sea of red, as small caps took a dive

Closing Bell: One ASX uranium stock stood out in a sea of red, as small caps took a dive


For now, all roads for ASX shares still lead back to the Russia-Ukraine war.

And today investors hit the risk-off button as the conflict still looks to be well and truly in the escalation phase.

The five-day winning streak for ASX microcaps came to an end, as the Emerging Companies index fell by 2.56%.Local stocks got a serious fright shortly before midday, as reports emerged that a nuclear plant in Ukraine was on fire.Global stocks took the reports seriously, as evidenced by a quick move into safe haven assets such as the US dollar and another surge in oil prices.Equities sold off, but had recouped some of their losses by the close of trade.The big loser on the day was the ASX uranium sector (except for one stock — more on that later).Most uranium small caps also climbed off their intra-day lows, but still finished deep in the red.Looking ahead, […]

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