ASX Small Cap Lunch Wrap: Who needs to cut back on their emissions today?

No doubt there are plenty of serious developments in global politics and finance that we could lead today’s wrap with.

However, an anecdote that combines two topical themes — emissions caused by human activity and the COP26 global climate summit — was hard to ignore.

Speaking at the event with Camilla Parker Bowles, US President Joe Biden is alleged to have unleashed a burst of flatulence that left the Duchess of Cornwall stunned by both its length and volume.

While there was plenty to discuss in the first week of the event, Bowles was apparently still processing the incident well after it happened.

On markets this morning, ASX futures were pointing higher at the open but local stocks have made a sluggish start to the week, dipping into the red by 12pm EST.

At the big end of town on the ASX 200, resources and energy stocks both rose strongly, mirrored by a +1% fall in the tech sector while demand for the big banks was weak.

Looking ahead this week, key data will be led by US inflation figures on Wednesday night. Australia will also get its monthly jobs print on Thursday morning.

ASX SMALL CAP WINNERS

Here are the best performing ASX small cap stocks for November 8 [intraday]:

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While big tech stocks lagged, online hotel booking platform SiteMinder (ASX:SDR) made a sparkling debut when it joined the ASX boards this morning.

The company listed with a market cap north of $1bn, after raising $627m in pre-IPO funds at a price point of $5.06.

Prior to the pandemic, the company raised $100m in a private round led by global funds management giant BlackRock.

Shares in SDR opened at almost $7 for a day-one gain of more than 30%.

Leading the pack in resources was copper-gold play Rincon (ASX:RCR), which flagged final drilling approvals for its South Telfer project are expected within the next two weeks.

Coal play Stanmore Resources (ASX:SMR) was also among the Monday winners, after confirming a landmark deal to acquire BHP’s coal assets for a price almost five times the size of its own market cap. Read more here.

ASX SMALL CAP LOSERS

Here are the worst performing ASX small cap stocks for November 8 [intraday]:

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