ASX Small Cap Lunch Wrap: Here’s the plan, investors
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Watch this space. Investors are waiting for details on China’s new Five-Year Plan, which maps out the economic and social priorities of the world’s largest economy for 2021-2025.
This plan could have an enormous bearing on commodity demand. China consumes over half the world’s nickel, copper, iron ore, and coal (plus everything else).
Pundits already estimate that the nascent hydrogen and battery metals sectors will be big winners – and coal the big loser — from China’s recently announced $7 trillion plan to reach carbon-neutrality by 2060.
On Tuesday, European share markets closed lower while Wall Street was mixed.
Sentiment was probs dented – once again — by rising COVID-19 cases and an inability by US lawmakers to finalise a new stimulus package.
Yesterday the Aussie market had its worst day of the month.
While tech stocks were the hardest hit — down 3.3 per cent — the sector has still surged by 38 per cent year to date.
Today, the ASX started poorly before fighting back by lunchtime. The ASX200 index is currently up 4.6 points – or 0.076 per cent – to 6,055.9 at 12:30pm.
Here are the best performing ASX small cap stocks at 12pm Wednesday October 28:
Swipe or scroll to reveal the full table. Click headings to sort.
There was a flurry of quarterly updates this morning. Stockhead sorted out the best ones so you don’t have to.
Skyfii (ASX:SKF), a company which uses mobile app software used for crowd management, evidently impressed investors with its headline achievement of 21 per cent increase in total operating revenues.
E2 Metals (ASX:E2M) has a made a “genuine new greenfields discovery” at the Conserrat project in Argentina, intersecting an incredible 18m at 47g/t gold and 208g/t silver.
A spectacular hit of 24m at ~6g/t gold – including 4m at ~35g/t – in early stage drilling at the Zuleika project has sent WA explorer Dampier Gold (ASX:DAU) soaring to eight-year highs.
And fresh-faced copper explorer Coda Minerals (ASX:COD) is having a great first morning on the bourse, up +40 per cent in early trade.
Here are the worst performing ASX small cap stocks at 12pm Wednesday October 28: