The Australian share market may have fallen by a further 1% on Thursday, but the negative sentiment hasn't been able to hold back all shares.
Three small caps carving out solid gains today are listed below. Here's why they are climbing higher:
The Fastbrick Robotics Ltd (ASX: FBR) share price has continued its rise and is up a further 3% to 16.5 cents. On Wednesday the robotics company announced a global partnership with European block-making giant Wienerberger AG. The partnership agreement will see the two companies working together to develop, manufacture, and test clay blocks optimised for Fastbrick's Hadrian X construction robot. After which, the clay blocks will then be introduced into global markets where Wienerberger is active. I think this is a positive development, but a little too soon for me to act upon it.
The MaxiTRANS Industries Limited (ASX: MXI) share price has pushed 5% higher to 61 cents after the supplier of truck and trailer parts announced the sale of its shareholding in the China-based MTC panel manufacturing business. According to the release, MaxiTRANS has entered into an equity transfer agreement with Zhejiang Huazheng New Materials Co. for the sale of its 80% holding for approximately $8 million. In addition to this, MaxiTRANS has also signed a long-term supply agreement for the continuing supply of products to the group by MTC that will take effect from the completion of the sale.
The Netcomm Wireless Ltd (ASX: NTC) share price has climbed 2% to 78 cents. This morning a change of director's interest notice revealed that non-executive director David Spence has dipped into the market to pick up 60,000 shares through an on-market trade today. Mr Spence paid a total of $46,776 for the shares, equating to a price of approximately 78 cents per share. Netcomm's shares have fallen 42% in the space of two weeks after providing disappointing guidance for FY 2019.
