Pic: Getty.
News
On Wednesday, US share markets again posted solid gains as investors — incredibly — look past nation-wide riots and lockdowns to focus on nascent signs of recovery.
Both Bloomberg Intelligence and Oxford Economics says non-manufacturing activity in the US showed signs of ‘bottoming out’ in May.
But recovery will be slow, even if the worst is behind us.
“Conditions remain miserable, with business activity and employment still contracting, while very weak new orders signal a grim outlook,” says Oren Klachkin, lead US economist at Oxford Economics.
“The road ahead is fraught with significant downside risks, and severe demand destruction, supply chain disruptions, tighter financial conditions, and concerns of a second wave of coronavirus contagion minimise chances of a strong rebound.
“Consumer and business confidence will play key roles in shaping the economic recovery.”
With no riots to speak of, European share markets also rose significantly Wednesday on economic recovery hopes.
The Australian bourse has followed suit, with the ASX200 Index up 1.3 per cent to 6,017.4 points in early trade.
Here are the best performing ASX small cap stocks at 12pm on Thursday June 4:
Swipe or scroll to reveal the full table. Click headings to sort.
| CODE | COMPANY | PRICE | % CHANGE | MARKET CAP |
|---|---|---|---|---|
| MCX | Mariner Corporation | 0.11 | 400.00% | $5.3M |
| FBR | Fastbrick Robotics | 0.07 | 141.38% | $122.3M |
| AUH | Austchina Holdings | 0.004 | 100.00% | $6.5M |
| IP1 | Integrated Payment Technologies | 0.014 | 100.00% | $3.7M |
| GID | GI Dynamics | 0.002 | 100.00% | $1.8M |
| DXB | Dimerix | 0.455 | 68.52% | $82.6M |
| CRL | Comet Resources | 0.023 | 53.33% | $8.4M |
| AL8 | Alderan Resources | 0.18 | 50.00% | $37.3M |
| MNW | Mint Payments | 0.01 | 42.86% | $9.1M |
| ADD | Adavale Resources | 0.021 | 40.00% | $3.6M |
| SI6 | Six Sigma Metals | 0.004 | 33.33% | $1.9M |
| AYS | Amaysim Australia | 0.55 | 30.95% | $162.3M |
| SPT | Splitit | 0.86 | 28.36% | $301.3M |
| GED | Golden Deeps | 0.01 | 25.00% | $3.5M |
| XTC | Xantippe Resources | 0.003 | 25.00% | $6.7M |
| RAN | Range International | 0.01 | 25.00% | $3.6M |
| TYM | Tymlez Group | 0.052 | 23.81% | $6.2M |
| OPL | Opyl | 0.17 | 21.43% | $4.1M |
| ISD | Isentia Group | 0.18 | 20.00% | $30.0M |
| RWD | Reward Minerals | 0.15 | 20.00% | $20.3M |
| NZS | New Zealand Coastal Seafoods | 0.012 | 20.00% | $5.3M |
Fastbrick Robotics (ASX:FBR) was up 141 per cent on no news this morning – that was enough to attract a speeding ticket from the ASX.
Yesterday, the tech company said its flagship Hadrian X construction robot had recorded a new peak laying rate of over 200 blocks per hour, “representing a major milestone in the commercialisation journey”.
The company believes increased media attention after yesterday’s announcement has contributed to today’s trading activities.
Dimerix (ASX:DXB) jumped +68 per cent after announcing it was selected in a major global study aimed at treating ARDS – a respiratory illness that is the biggest killer of patients with COVID-19.
Explorer Comet Resources (ASX:CRL) is acquiring the high-grade Santa Teresa project in Baja California, Mexico, where drilling has returned intersections like 1m at 958.4 grams per tonne (g/t), or nearly 31 ounces per tonne, gold, 3.9m at 39g/t gold and 1m at 125.9g/t gold.
The small cap stock was up +50 per cent to 2.2c per share.
And buy now, pay later stock Splitit Payments (ASX:SPT) has surged following a positive trading update.
“We continue to see strong merchant demand as eCommerce expansion accelerates, while merchants are actively pursuing strategies to improve their conversion rates during and beyond the Coronavirus pandemic,” chief exec Brad Paterson says.
Here are the best performing ASX small cap stocks at 12pm on Thursday June 4:
Swipe or scroll to reveal the full table. Click headings to sort.
| CODE | COMPANY | PRICE | % CHANGE | MARKET CAP |
|---|---|---|---|---|
| TPD | Talon Petroleum | 0.001 | -50.00% | $3.5M |
| MLS | Metals Australia | 0.001 | -33.33% | $6.4M |
| GLA | Gladiator Resources | 0.001 | -33.33% | $2.8M |
| ICG | Inca Minerals | 0.001 | -33.33% | $4.1M |
| OEX | Oilex | 0.002 | -33.33% | $7.3M |
| PEN | Peninsula Energy | 0.093 | -28.46% | $29.0M |
| NAE | New Age Exploration | 0.004 | -27.27% | $3.6M |
| VPR | Volt Power Group | 0.002 | -25.00% | $18.3M |
| ROG | Red Sky Energy | 0.002 | -25.00% | $2.4M |
| ECT | Environmental Clean Technologies | 0.002 | -25.00% | $2.4M |
| NXE | New Energy Minerals | 0.007 | -22.22% | $1.2M |
| MGT | Magnetite Mines | 0.002 | -20.00% | $4.5M |
| GBZ | GBM Resources | 0.069 | -18.82% | $19.1M |
| A1G | African Gold | 0.095 | -17.39% | $6.7M |
| AZI | Alta Zinc | 0.005 | -16.67% | $11.1M |
| ESH | Esports Mogul | 0.005 | -16.67% | $10.2M |
| ARE | Argonaut Resources | 0.006 | -14.29% | $11.8M |
| PUR | Pursuit Minerals | 0.006 | -14.29% | $2.1M |
| PWL | Powerwrap | 0.15 | -14.29% | $30.9M |
News
News
News
Get the latest Stockhead news delivered free to your inbox.
