It’s a bullish vibe on Australian markets today, with the ASX200 trading back above 7,000 into midday trade.

If the index holds on this afternoon, it will mark the first close above 7,000 since February 21, 2020 — the last market top before a month of COVID-19 armageddon saw it bottom out at 4,526 on March 23.

The ASX Small Ordinaries outpaced the ASX200’s ~0.6pc rise with a gain of around one per cent in morning trade.

US inflation data overnight showed CPI rose by 0.6pc in March, the biggest monthly gain since 2012.

But markets are so far looking through that, with bond yields easing back from their March highs after the February jump that caught investors on the hop and sent tech/growth stocks crashing back to earth.

The ASX’s beacon of high-growth tech — Afterpay (ASX:APT) — is perhaps most representative of the fade out in the inflation trade.

From all-time highs near $160 in February, the stock dipped back below $100 in March but has jumped back to around $130 so far in April.
 

WINNERS

Here are the best performing ASX small cap stocks at 12pm Wednesday April 14:

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A total of eight stocks posted gains of at least 15 per cent on market-moving announcements.

Leading the pack was Orminex Ltd (ASX:ONX), which operates the Penny’s Find gold project — a 50:50 joint venture with Horizon Minerals (ASX:HRZ).

Reverse circulation drilling results revealed some high grade gold intercepts at the site, which saw shares in ONX jump more than 50 per cent. The move in Horizon was more muted, as HRZ shares rose by around four per cent.

Also among the winners was fintech platform (and ASX debutante) Propell Holdings (ASX:PHL), which kept up the strong run of recent IPOs with a day-one gain of around 40 per cent.

And Brainchip Holdings (ASX:BRN), which veered into meme-stonk territory with some huge gains in last year’s post-COVID bull market, was back in favour with investors this morning.

The company says manufacturing has now commenced for the production of its Akida AKD1000 neuromorphic processor chips, with the first units scheduled to be available in August.
 

LOSERS

Here are the worst performing ASX small cap stocks at 12pm Wednesday April 14:

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

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