European leaders have finally agreed a €750bn ($1.2 trillion) plan to spend their way out of the coronavirus crisis.

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

Storage is a logistical nightmare. Source

Someone did the maths – if you (an immortal) spent $1m a day from the time Jesus was born, there would still be a few hundred billion left in that pile.

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

The spending program will add between 0.5 percentage points (ppts) and 2ppts to individual EU countries’ GDP over the next few years, according to Oxford Economics.

“Consequently, we now expect the eurozone economy to return to pre-crisis levels by late-2021, instead of mid-2022 in our latest baseline,” head of Europe economics Angel Talavera says.

“The EU’s improved monetary and fiscal response to this crisis is now much stronger than in previous emergencies, confirming our view that further gradual integration rather than disintegration remains the more likely path forward.”

This proactive policy response and the boost in sentiment is likely to be reflected in an outperformance for European equities in the short-term, which Oxford Economics see as “relatively cheap” at the moment.

News of the EU stimulus fund saw European share markets close at four-month highs.

It is profit season in the US, where virus cases continue to soar.

So far 58 companies of the S&P 500 have reported earnings. Incredibly, 77.6 per cent of results have beaten forecasts, according to Refinitiv.

And the gold futures price is up $US26.50 (or 1.5 per cent) to $US1,843.90 an ounce — the highest level since September 2011.

 

WINNERS

Here are the best performing ASX small cap stocks at 12pm Wednesday July 22:

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

CODE COMPANY PRICE CHANGE MARKET CAP
LCY Legacy Iron Ore 0.006 50.00% $37.5M
ICG Inca Minerals 0.003 50.00% $8.1M
CZN Corazon Mining 0.002 33.33% $5.5M
IBX Imagion Biosystems 0.06 25.00% $45.7M
RFN Reffind 0.003 25.00% $2.1M
SHO SportsHero 0.025 25.00% $8.2M
AJJ Asian American Medical Group 0.03 25.00% $10.4M
CAD Caeneus Minerals 0.005 25.00% $17.4M
AAJ Aruma Resources 0.005 25.00% $4.1M
RDM Red Metal 0.13 23.81% $31.9M
FXL Flexiroam 0.016 23.08% $528.5M
CLQ Clean TeQ 0.195 21.88% $141.8M
BAT Battery Minerals 0.012 20.00% $14.5M
IMS Impelus 0.006 20.00% $4.8M
LML Lincoln Minerals 0.006 20.00% $3.5M
CYM Cyprium Metals 0.21 16.67% $11.8M
AO1 Assetowl 0.007 16.67% $3.4M
CZR Coziron Resources 0.014 16.67% $38.4M
SI6 Six Sigma Metals 0.007 16.67% $5.6M
THR Thor Mining DRC 0.007 16.67% $5.2M
SVL Silver Mines 0.158 16.67% $158.6M
VLT Vault Intelligence 0.54 17.20% $69.8M

 

Legacy Iron Ore (ASX:LCY) leads the winners, up 50 per cent on some solid gold intersections at the Mt Celia project.

Almost every drill hole (27 out of 29 holes) intercepted significant mineralisation, the company says.

Explorer Corazon Mining (ASX:CZN) is restarting drilling at the compelling new Fraser Lake Complex (FLC) nickel-copper-cobalt target at the Lynn Lake project in the Manitoba Province, Canada.

The stock was up +33 per cent in morning trade.

New research indicates Imagion Biosystems’ (ASX:IBX)  tech may allow the company to offer medical imaging for considerably cheaper rates than available today.

The biotech jumped 25 per cent to 6c per share.

And battery metals hopeful Clean TeQ (ASX:CLQ) is up on a new collaboration to develop scandium aluminium alloys for rockets.

 

LOSERS

Here are the worst performing ASX small cap stocks at 12pm Wednesday July 22:

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

CODE COMPANY PRICE CHANGE MARKET CAP
IMC Immuron 0.61 -28.65% $109.0M
SYA Sayona Mining 0.009 -20.83% $22.2M
DLC Delecta 0.005 -16.67% $4.0M
WRM White Rock Minerals 0.006 -14.29% $23.6M
IEC Intra Energy Corporation 0.006 -14.29% $2.3M
YPB YPB Group 0.006 -14.29% $11.4M
RVS Revasum 0.42 -12.50% $13.9M
QGL Quantum Graphite 0.029 -12.12% $6.4M
9SP 9 Spokes 0.034 -10.53% $41.3M
DAU Dampier Gold 0.03 -11.76% $8.0M
FFG Fatfish Internet Group 0.009 -10.00% $7.3M
MGL Magontec 0.019 -9.52% $21.7M
TTI Traffic Technologies 0.019 -9.52% $9.2M
PIO Pioneer Resources 0.1 -9.09% $15.1M
AFL AF Legal 0.2 -9.09% $13.2M
QEM QEM 0.1 -9.09% $10.0M
PPC Pro-Pac Packaging 0.155 -8.82% $125.7M

 

Diarrhoea company Immuron (ASX:IMC) dropped ~28 per cent after announcing a $US20m raise from institutional investors which it will use to fund R&D, preclinical and clinical programs, and marketing for its Delhi-belly pill Travelan.