Pic: Getty/ Stockhead
ASX Small Cap Lunch Wrap: Biden’s less-generous infrastructure bill is somehow good news for share markets
News
share
European and US market both rose on Monday as inflation concerns ease, with tech leading the way.
Equity markets have been roiled in recent weeks by fears that strong economic data and supply bottlenecks could lead to an extended stretch of higher prices and inflation.
That could force the US Federal Reserve to scale back its massive monetary stimulus.
But markets are now less worried about inflation after US President Joe Biden’s multi-trillion dollar infrastructure bill looks to be smaller than originally thought. Yay?
Risk sentiment also improved as cryptocurrencies recovered some losses after the weekend sell-off.
Bitcoin gained on an Elon Musk tweet.
Gold and oil edged higher, but iron ore tumbled again to $US188/t. That’s an +18% drop from recent highs of ~$US230/t.
At ~12pm eastern time the benchmark ASX 200 index was up 47 points — or 0.68% — to 7,093.6 points.
WINNERS
Here are the best performing ASX small cap stocks at 12pm Tuesday, May 25:
Swipe or scroll to reveal the full table. Click headings to sort.
| CODE | COMPANY | PRICE | % CHANGE | VOLUME | MARKET CAP |
|---|---|---|---|---|---|
| VAR | Variscan Mines | 0.091 | 146 | 68324091 | $ 7,880,334.89 |
| DVN | Devine | 0.235 | 96 | 3473378 | $ 19,047,666.72 |
| PCL | Pancontinental Oil | 0.002 | 33 | 1500000 | $ 9,010,073.23 |
| DM1 | Desert Metals | 0.58 | 32 | 1110276 | $ 15,400,000.00 |
| IVX | Invion | 0.013 | 30 | 32835636 | $ 55,380,422.95 |
| BAS | Bass Oil | 0.0025 | 25 | 1000000 | $ 6,684,280.19 |
| TSC | Twenty Seven Co. | 0.005 | 25 | 1873980 | $ 10,642,758.24 |
| ALT | Analytica | 0.003 | 20 | 1893000 | $ 10,998,788.54 |
| VIC | Victory Mines | 0.003 | 20 | 2500000 | $ 13,920,631.93 |
| LPE | Locality Planning | 0.19 | 19 | 73641 | $ 10,061,557.76 |
| MEG | Megado | 0.16 | 19 | 3592 | $ 5,507,837.73 |
| OAR | OAR Resources | 0.013 | 18 | 15737861 | $ 17,815,054.84 |
| SCT | Scout Security | 0.085 | 18 | 77526 | $ 10,488,432.74 |
| ART | Airtasker | 1.26 | 17 | 2372255 | $ 424,471,242.24 |
| CAV | Carnavale Resources | 0.007 | 17 | 1292322 | $ 14,281,381.82 |
| BMO | Bastion Minerals | 0.215 | 16 | 345592 | $ 10,629,038.10 |
| CTP | Central Petroleum | 0.12 | 14 | 3460074 | $ 76,029,834.41 |
| GTE | Great Western Exp. | 0.16 | 14 | 23334 | $ 19,067,728.54 |
| KTE | K2 Energy | 0.025 | 14 | 704077 | $ 6,614,457.32 |
| CVV | Caravel Minerals | 0.42 | 14 | 718608 | $ 128,627,507.81 |
| STG | Straker Translations | 2.03 | 13 | 130936 | $ 97,802,739.00 |
Some big winners today as risk-on sentiment prevailed.
The share price of Variscan Mines (ASX:VAR) surged to its highest point in ~3 years after the exploration minnow discovered multiple high grade zinc-lead lenses at the historic ‘San Jose’ mine in Spain.
Property developer Devine (ASX:DVN) received an off-market takeover from engineering firm and majority shareholder CIMIC (ASX:CIM) valuing the company at 24c per share – a 100% premium to the last closing price.
Pharma stock Invion (ASX:IVX) says initial proof-of-concept results show the INV043 drug “to be effective against multiple cancer types”.
First installations of electricity provider Locality Planning’s (ASX:LPE) newly developed ‘Shared Solar’ infrastructure are now live and operational.
Gig economy jobs platform Airtasker (ASX:ART) pared some of its recent losses after completing a $20.7m private placement at $1 a share – a slight ~7% discount to the last closing price.
And Central Petroleum (ASX:CTP) will sell 50% of its interests in the Amadeus Basin producing assets for ~$85 million to New Zealand Oil and Gas Limited (ASX:NZO) and Cue Energy Resources (ASX:CUE).
LOSERS
Here are the worst performing ASX small cap stocks at 12pm Tuesday, May 25:
Swipe or scroll to reveal the full table. Click headings to sort.
| CODE | COMPANY | PRICE | % CHANGE | VOLUME | MARKET CAP |
|---|---|---|---|---|---|
| ECT | Env Clean Tech . | 0.001 | -33 | 2006463 | $ 17,376,937.43 |
| ANL | Amani Gold | 0.0015 | -25 | 9642976 | $ 24,773,993.49 |
| CLZ | Classic Minerals | 0.0015 | -25 | 45479066 | $ 39,693,264.37 |
| MCM | Mc Mining | 0.1 | -17 | 5333 | $ 18,530,346.60 |
| CCE | Carnegie Cln Energy | 0.0025 | -17 | 2732270 | $ 44,107,721.13 |
| CBR | Carbon Revolution | 1.3 | -16 | 1794807 | $ 302,225,255.34 |
| CMD | Cassius Mining | 0.016 | -16 | 100000 | $ 5,457,681.41 |
| ACW | Actinogen Medical | 0.083 | -14 | 18281992 | $ 159,413,620.51 |
| FFX | Firefinch | 0.395 | -12 | 21948242 | $ 352,860,423.30 |
| VRX | VRX Silica | 0.22 | -12 | 3862504 | $ 126,984,848.25 |
| TRN | Torrens Mining | 0.15 | -12 | 52586 | $ 11,540,354.29 |
| DDD | 3D Resources Limited | 0.004 | -11 | 13048931 | $ 16,291,674.41 |
| EVO | Evolve Education Grp | 0.93 | -11 | 68452 | $ 165,931,463.36 |
| BEE | Broo | 0.017 | -11 | 3516596 | $ 17,969,306.34 |
| FHS | Freehill Mining . | 0.035 | -10 | 1208690 | $ 64,408,247.12 |
| LEL | Lithiumen | 0.44 | -10 | 943549 | $ 22,050,000.00 |
| TMZ | Thomson Res | 0.135 | -10 | 4723860 | $ 69,071,626.50 |
| LNY | Laneway Res | 0.0045 | -10 | 138666 | $ 18,875,329.67 |
| M24 | Mamba Exploration | 0.24 | -9 | 780301 | $ 9,805,000.00 |
| ANX | Anax Metals | 0.1 | -9 | 2829602 | $ 38,520,227.90 |
