ASX Small Cap Lunch Wrap: 2021 shaping up as another profitable year for investors
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The feeling that 2021 could be a boom year for a range of beaten down sectors – like tourism and retail — is gaining traction.
Commodities like oil, copper and iron ore, decent barometers of perceived economic activity, have been advancing strongly.
Another gauge of the health of the economy is the so-called ‘luxury vehicle sales index’.
Commsec says home prices and luxury vehicle sales appear to rise and fall loosely at the same time.
In November, new vehicle sales were up 12.4 per cent on a year ago – the first annual gain for around two-and-a-half years — while home prices rose 0.8 per cent to be up 3.1 per cent for the year.
Will November be the month that the broader market turns the corner?
“The outlook is far from certain,” Craig James, chief economist at CommSec says.
“But Australia’s success in suppressing the virus and the upcoming vaccine rollout both give plenty of scope for optimism.”
The benchmark ASX 200 index is starting the new week with solid gains, up ~0.7 per cent to 6,680 point by midday Eastern Time.
Here are the best performing ASX small cap stocks at 12pm Monday December 7:
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Control Bionics raised $15 million at 60 cents per share at its IPO. Shares quickly rose to $1.21 at market open – a gain of over 100 per cent.
The company’s technology solutions help people with disabilities which hinder verbal communication, such as cerebral palsy and motor-neurone disease.
On Friday, a Senate Committee in the US – the world’s nuclear powerhouse — approved a bill advancing the creation of a US national strategic uranium reserve.
Here are the worst performing ASX small cap stocks at 12pm Monday December 7: