Australia has generally made good progress in stopping the spread of the COVID-19 virus despite Victoria’s setback, CommSec said today.

Still, the outlook remains fluid. Investors must stay on top of daily info to gauge implications for companies, sectors and the broader market says Craig James, chief economist at CommSec.

“Companies in hospitality, property trusts (REIT), retailing, travel, leisure, education remain most at risk,” James says.

Federal, state and territory governments have committed $301bn — around 15 per cent of GDP — in support and stimulus measures in the wake of COVID-19.

>>>scroll down for the biggest small cap winners and losers in morning trade

“Governments and banks have actively provided all the support and stimulus required so businesses and families can get through this crisis [but] they may need to do more,” James says.

“Encouragingly, they acknowledge that this may be the case.”

Australia has dealt with the crisis better than most nations, he says.

“If health authorities can quickly contain the outbreaks in Victoria, the outlook for the economy is bright.”

 

For the US – the world’s #1 economy — the outlook isn’t great.

On Friday, US share markets were mixed as investors weighted up the possibility of more fiscal stimulus against the potential for more COVID-19 lockdowns as cases surge, again.

“Wall Street remains upbeat, but sentiment on Main Street is turning grim,” says Bob Schwartz, senior economist at Oxford Economics.

Depending on fiscal action and progress on the health front, speculation about a double-dip recession may well gain traction in the fall.

“The streak of upside surprises on the economic front continued this week but is poised to end in coming months,” Schwartz says.

“The prognosis for the rest of the year has not brightened.”

 

WINNERS

Here are the best performing ASX small cap stocks at 12pm Monday July 20:

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

CODE COMPANY PRICE CHANGE MARKET CAP
CCE Carnegie Clean Energy 0.002 100.00% $11.1M
CLZ Classic Minerals 0.0025 25.00% $18.7M
SBR Sabre Resources 0.004 33.33% $2.6M
BSM Bass Metals 0.004 33.33% $10.5M
WWI West Wits Mining 0.023 27.78% $18.4M
IDZ Indoor Skydive AUS Group 0.005 25.00% $1.4M
ALY Alchemy Resources 0.021 23.53% $9.4M
BLG BluGlass 0.054 22.73% $31.6M
MX1 Micro-X 0.18 22.03% $52.5M
HT8 Harris Technology 0.045 21.62% $7.1M
BRK Brookside Energy 0.006 20.00% $5.0M
AHL Ahalife Holdings 0.006 20.00% $6.7M
SHE Stonehorse Energy 0.006 20.00% $2.0M
BMN Bannerman Resources 0.037 19.35% $39.7M
DTZ Dotz Nano 0.155 19.23% $47.2M
KGD Kula Gold 0.032 18.52% $4.8M
AEV Avenira 0.013 18.18% $6.6M
GBE Globe Metals & Mining 0.014 16.67% $6.5M
LIN Lindian Resources 0.014 16.67% $8.2M
HSC Homestay Care 0.007 16.67% $11.7M
RIM Rimfire Pacific Mining 0.007 16.67% $11.1M

 

Aussie biotech Micro-X (ASX:MX1) has received 510(k) clearance from the US Food and Drug Administration (FDA) for its ‘Rover’ mobile X-ray product, which is designed for deployed military medical facilities.

The stock was up +22 per cent in morning trade.

Cyber security play Tesserent (ASX:TNT) hit its previously announced FY20 financial targets – a$40m yearly revenue ‘run rate’ (that’s the June quarter, annualised) and positive cash flow in June.

And with an extra $10m debt facility secured, the company is also progressing a number of new acquisitions “currently under consideration”.

Explorer Alchemy Resources (ASX:ALY) has picked up ground to the southeast of miner Saracen’s (ASX:SAR) 5.4-million-ounce Carosue Dam gold deposit, along strike of Breaker Resources’ (ASX:BRB) 1-million-ounce Bombora gold deposit and immediately west of the Apollo Consolidated (ASX:AOP)-owned 1-million-ounce Rebecca, Duchess and Duke deposits in the Eastern Goldfields of WA. What a spot.

The stock was up 23.5 per cent at lunchtime AEST.

It was also a big morning for ASX-listed uranium players, with Bannerman Resources (ASX:BMN) +22 per cent, Boss Resources (ASX:BOS) +20 per cent, and Vimy Resources (ASX:VMY) +12 per cent, all making early gains on no news.

This follows a so-called ‘Biden bump” last week:

LOSERS

Here are the worst performing ASX small cap stocks at 12pm Monday July 20:

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

CODE COMPANY PRICE CHANGE MARKET CAP
BAS Bass Strait Oil 0.001 -33.33% $5.0M
WRM White Rock Minerals 0.007 -22.22% $27.5M
OEX Oilex 0.002 -20.00% $7.6M
PGM Platina Resources 0.043 -18.87% $19.7M
EN1 Engage:BDR 0.006 -18.75% $8.3M
CBE Cobre 0.18 -18.18% $22.7M
KAS Kasbah Resources 0.01 -16.67% $1.6M
AZI Alta Zinc 0.005 -16.67% $13.8M
RBR RBR Group 0.006 -14.29% $5.3M
PWN Parkway Minerals 0.006 -14.29% $10.3M
KNM Kneomedia 0.013 -13.33% $11.8M
IEC Intra Energy Corporation 0.007 -12.50% $2.7M
ADD Adavale Resources 0.014 -12.50% $2.4M
MEM Memphasys 0.084 -12.50% $63.3M
GSM Golden State Mining 0.31 -11.43% $17.2M
ASH Ashley Services Group 0.24 -11.11% $34.6M
SBW Shekel Brainweigh 0.125 -10.71% $19.5M
ZNO Zoono 2.13 -10.50% $346.9M
AAJ Aruma Resources 0.004 -10.00% $3.3M
XTD XTD 0.045 -10.00% $6.2M