ASX Small Cap Lunch Wrap: What areas are bloomin’ and not today?
Link copied to
Looking for an excuse to not mow your lawn? No Mow May, a movement that began in the UK with Plantlife and has spread throughout the US with Bee City USA encourages people to keep their mowers in the shed during the northern spring month of May.
The theory is letting manicured lawns become more wild will encourage native flowers to bloom and provide a feast of nectar for bees who in turn will thrive.
So, while not spring in Australia you could tell you’re neighbours you’re not being lazy but won’t mow the lawn this month to support No May May and then perhaps encourage a No Mow September, October or November for a break later in the year.
It’s the day after the night before…. Australian’s and their equity markets are coming to terms with the RBA’s first rate hike in more than 11 years and business in not yet really bloomin`.
The RBA yesterday lifted rates 25-basis-points, increasing the cash rate to 0.35% in it’s bid to halt rising inflation with consumer prices climbing 2.1% in the March quarter.
The ASX 200 was modestly up in morning trade before dipping by lunchtime, down 3.60 points 7312.60 points by 12.45pm (AEST). The ASX Emerging Companies (XEC) index is down 36 points or 1.42%.
The energy sector leads the gainers up 1%, along with financials up 0.65% and healthcare up 0.63%. Consumer discretionary leads the laggards, down 0.92% followed by real estate down 0.64%.
Iron ore is US$144.08 per dry metric tonne. Brent oil is down 0.22% to US$105.71 per barrel, while WTI has fallen 0.26% to US$103.22.
Gold is also down 0.21% to US$1,864. The Australian dollar has dropped 0.38% and is buying 71 US cents, while Bitcoin is down 1.58% to US$37,898.
Here are the best performing ASX small cap stocks for April 29 [intraday]:
Swipe or scroll to reveal full table. Click headings to sort:
Pacific Bauxite (ASX:PBX) has seen its share price rise today after recommenced trading on the ASX following a recapitalisation, with $4m in cash to explore its PGE projects in WA.
Zinc player Altamin (ASX:AZI) has told shareholders to take no action regarding a $37.2 million takeover offer from its largest shareholder, VBS exchange.
VBS has offered to buy all remaining Altamin shares its doesn’t yet own for 9.5 cents each off-market.
Victory Goldfields (ASX:1VG) saw its share price climb after announcing “exeptional drilling results” including up to 54.3g/t gold intercepted at its 100% owned Coodardry project.
“Victory is very encouraged with the Coodardy assay results which provides evidence there is potential for the gold mineralisation to continue within the area covered by the RC drilling program which will commence around the middle of this month,” executive director Brendan Clark said.