Being overweight: not as 'rough' as it sounds. Pic: Getty.
ASX Small Cap Lunch Wrap: Global stocks are now overweight and that’s a good thing
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Global stocks’ run following Pfizer’s vaccine announcement still has further to go, “helping drive the next leg of the equity bull market”, Oxford Economics’ equity analyst Daniel Grosvenor says.
The latest vaccine news from Pfizer has Oxford upgrading global equities to ‘overweight’.
An ‘overweight’ rating means that analyst predicts stock prices should go higher in the future.
“As we highlighted in last month’s ‘equities slice’, the sectors that would benefit most from a vaccine approval continue to trade at a meaningful discount to their pre-crisis levels,” Grosvenor says.
“We felt that these sectors were well placed regardless of a vaccine approval given the ongoing global recovery, and the latest vaccine news flow removes a significant degree of the downside tail risk.”
Not everyone is winner.
Companies that thrived during the pandemic – led by mega cap tech stocks — fell on news of Pfizer’s vaccine progress.
The tech heavy, meme stock loving masses at r/wallstreetbets are not thrilled.
Today, the Aussie market is charging. Again. The benchmark ASX 200 index was up 80.9 points – or 1.28 per cent – to 6,421 points by midday.
Like yesterday, some of today’s best improvers are banks, energy stocks, property companies, and those linked to travel and transportation, Commsec says.
WINNERS
Here are the best performing ASX small cap stocks at 12pm Wednesday November 11:
Swipe or scroll to reveal the full table. Click headings to sort.
| CODE | NAME | PRICE | % CHANGE | MARKET CAP |
|---|---|---|---|---|
| RXP | RXP Services | 0.515 | 51 | $ 58,860,588.52 |
| ECT | Env Clean Technologies | 0.0015 | 50 | $ 9,601,032.79 |
| FGO | Fargo Enterprises | 0.003 | 50 | $ 2,371,513.41 |
| WBE | Whitebark Energy | 0.003 | 50 | $ 8,126,251.10 |
| AXI | Axiom Properties | 0.086 | 46 | $ 25,530,105.82 |
| STG | Straker Translations | 1.3 | 44 | $ 48,094,704.60 |
| IXU | Ixup | 0.088 | 29 | $ 40,506,261.49 |
| IDZ | Indoor Skydive Australia | 0.018 | 29 | $ 4,713,801.39 |
| CFO | Cfoam | 0.025 | 25 | $ 3,843,480.52 |
| MLS | Metals Australia | 0.0025 | 25 | $ 8,381,807.15 |
| VPR | Volt Power Group | 0.0025 | 25 | $ 18,339,067.12 |
| CM8 | Crowd Media | 0.083 | 24 | $ 26,435,673.63 |
| SKN | Skin Elements | 0.023 | 21 | $ 6,189,585.01 |
| AQC | Australia Pacific Coal | 0.25 | 19 | $ 10,601,810.10 |
| AQS | Aquis | 0.026 | 18 | $ 785,821.87 |
| COO | Corum Group | 0.105 | 18 | $ 53,111,354.22 |
| SCU | Stemcell United | 0.02 | 18 | $ 11,417,342.19 |
| RVR | Red River Resources | 0.245 | 17 | $ 108,732,617.07 |
| AUQ | Alara Resources | 0.014 | 17 | $ 7,618,635.78 |
Digital consulting services outlet RXP Services (ASX:RXP) is leading the ASX’s winners list this morning after a $95 million takeover offer.
The deal, at 55 cents per share, is a 62 per cent premium to yesterday’s closing price. It also includes a special dividend of 5 cents per share.
Data analytics company IXUP (ASX:IXU) came out of a nine-day trading halt to announce a $5.75m share placement along with a push into the global gaming sector and some board changes.
Shares in the company rallied to a multi-year high of 9c, although the stock is still off its November 2017 listing price of 20c.
Real estate investment stock Axiom Properties (ASX:AXI) announced it reached a deal to sell the South Australian Emergency Services State Command Centre for $80 million.
Straker Translations (ASX:STG) reached an agreement with computing giant IBM, sending the stock up 44 per cent.
And social commerce company Crowd Media (ASX:CM8) has successfully executed the first rollout of its “talking head” platform for professional skincare company MDComplete.eu. 12 months ahead of schedule.
LOSERS
Here are the worst performing ASX small cap stocks at 12pm Wednesday November 11:
Swipe or scroll to reveal the full table. Click headings to sort.
| CODE | NAME | PRICE | % CHANGE | MARKET CAP |
|---|---|---|---|---|
| REZ | Resources & Energy Group | 0.073 | -30 | $ 45,326,482.85 |
| CCE | Carnegie Clean Energy | 0.0015 | -25 | $ 22,282,904.90 |
| CLZ | Classic Minerals | 0.0015 | -25 | $ 26,678,279.47 |
| DME | Dome Gold Mines | 0.14 | -24 | $ 54,558,555.35 |
| ENV | Enova Mining | 0.025 | -22 | $ 10,837,083.01 |
| MGV | Musgrave Minerals | 0.44 | -18 | $ 254,013,872.48 |
| BSM | Bass Metals | 0.0025 | -17 | $ 11,981,027.21 |
| ROG | Red Sky Energy | 0.0025 | -17 | $ 6,138,549.83 |
| DC2 | DC Two | 0.49 | -16 | $ 17,751,600.95 |
| VIC | Victory Mines | 0.003 | -14 | $ 15,457,125.22 |
| BBL | Brisbane Broncos | 0.39 | -13 | $ 44,118,283.95 |
| LCY | Legacy Iron Ore | 0.007 | -13 | $ 49,977,908.14 |
| STM | Sunstone Metals | 0.014 | -13 | $ 35,359,802.34 |
| INP | Incentiapay | 0.022 | -12 | $ 17,955,741.30 |
| HCD | Hydrocarbon Dynamic | 0.023 | -12 | $ 9,018,977.42 |
| ANP | Antisense Therapeutics | 0.1025 | -11 | $ 56,233,639.67 |
| CLB | Candy Club | 0.13 | -10 | $ 32,508,127.10 |
| AZI | Alta Zinc | 0.0045 | -10 | $ 18,053,495.88 |
| EVE | EVE Investments | 0.009 | -10 | $ 38,431,418.90 |
| GLV | Global Oil & Gas | 0.009 | -10 | $ 6,536,245.28 |
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