ASX lunchtime small cap wrap: Who’s leaving a legacy today?

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It looks like the two gentlemen in the picture are passed out for…something to do with the 1960s counter culture. But today they could easily be in tears because the Volkswagen Beetle is coming to an end.

The Beetle was first produced in 1938 (although not enmasse until after World War II) and the last one will roll out of Volkswagen’s Mexico plant this week.

It was designed to be the “people’s car”, affordable to the masses. With 21 million original Beetles produced, its hard to argue otherwise. For the last 20 years Volkswagen has sold the new Beetle and only 500,000 were sold. These last ones will go to a museum.

But in addition to museums, we’ll also have Hollywood films which will forever remind us of an era that was.

Anyway, after a dour start to the week our markets have rallied today. The ASX Small Ords is up by nearly 1 per cent today, by 26 points, to 2,895 points. Meanwhile the ASX 200 is up by 0.74 per cent to 6,716 points.

This came despite more “troubling” economic data. Today it was Westpac Consumer Sentiment and “troubling” was the exact word used by senior economist Matthew Hassan. Why? Because it fell 4.1 per cent and as Hassan said, “It comes against what should have been a supportive backdrop for confidence” – hint: tax cuts and low interest rates.

But they have not taken effect yet and we will get our refunds within the next few weeks. Perhaps today’s index rises can be attributed to today’s winners.

Going up

Dacian Gold (ASX:DCN) is up 16 per cent after revealing its life of mine plan for its Mt Morgans project. Dacian anticipates producing 1.1 million tonnes of gold in the next eight years of the mine’s life.

Fellow gold explorer Carawine Resources (ASX:CWX) jumped 16 per cent too after positive results.

Zelda Therapeutics (ASX:ZLD) had no news but released an investor presentation from a recent non-deal roadshow and it jumped 19 per cent.

Here are the best performing ASX small cap stocks at lunchtime, Wednesday July 10:

Swipe or scroll to reveal the full table. Click headings to sort

Going down

Today’s biggest loser, Marindi Metals (ASX:MZN), fell after a capital raising, by 50 per cent. UUV Aquabotix (ASX:UUV) did too — down 22 per cent.

Environmental Clean Technologies (ASX:ECT) resumed trading after a four month suspension and investors, keen to exit, sent it down 46 per cent.

Here are the worst performing ASX small cap stocks at lunchtime, Wednesday July 10:

Swipe or scroll to reveal the full table. Click headings to sort

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