ASX Small Cap Lunch Wrap: Big infrastructure cash splash to stoke fire under mining, construction stocks

Overseas markets rose overnight as US President Biden embraced a US$1.2 trillion bipartisan Senate deal on infrastructure spending.

Ever wondered what one trillion dollars (in $100 bills) might look like? Here you go:

Storage is a nightmare.

The US$579 billion in new spending includes big investments in the nation’s power grid, broadband internet services and passenger and freight rail, according to Reuters. Materials and industrials stocks are set to benefit.

>>Scroll down for today’s best and worst performing ASX small cap stocks

“As massive fiscal stimulus helped the US economy grow at a 6.4 per cent annualised rate in the first quarter, investors have been banking on an infrastructure agreement that could steer the next leg of the recovery for the world’s largest economy and fuel more stock gains,” Morningstar says.

Construction and mining equipment maker Caterpillar and aerospace firm Boeing both jumped more than 2%, helping lift the Dow Jones Industrial Average.

Oil and most base metals — led by nickel — rose, while gold (US$1,776/oz) and iron ore (US$214/t) nudged lower.

The ASX 200 index is up 0.32% to 7,302 point in morning trade. It remains 0.9% in the red for the week after those massive losses suffered on Monday.
 

WINNERS

Here are the best performing ASX small cap stocks at 12pm Friday June 25:

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

WordPress Table

Yesterday, coal producer Bathurst Resources (ASX:BRL) announced it would exceed 2021 financial year (FY21) earnings guidance of $55.4m as prices recover.

Gold junior Rimfire Pacific Mining (ASX:RIM) rose off the back of a $7.5m Joint Venture and Earn in Agreement in the Lachlan Fold.

Computer memory and semiconductor stock Weebit Nano (ASX:WBT) reached a major development milestone, three months ahead of schedule.

Nagambie Resources (ASX:NAG) has applied for a planning permit to construct and operate a 180,000 tonnes per annum gold toll treatment plant – to treat ore from third party mines — at its mothballed namesake project site in Victoria.
 

LOSERS

Here are the worst performing ASX small cap stocks at 12pm Friday June 25:

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

WordPress Table

Related Topics