ASX Small Cap Lunch Wrap: Who should be having a holiday and cake today?
The US Army has reportedly given a birthday cake to a 90-year-old Italian woman, to replace one American soldiers stole from her 77 years ago.
Meri Mion was just 13 when her village of San Pietro saw fighting between US troops and German soldiers.
Her mother made her a birthday cake and as it stood by the window cooling it was taken by the presumably hungry American soldiers.
Ms Mion planned on sharing the replacement cake with her relatives.
“We will eat that dessert with all my family, remembering this wonderful day that I will never forget,” she said.
And perhaps the rest of Australia and the ASX should have joined Queensland and the Northern Territory today for a public holiday.
Instead the ASX 200 is sharply lower today, dropping 126.90 points or 1.71% to 7308.10 points at midday (AEST) ahead of possible interest rates hikes in both Australia and the US this week.
All sectors were down with technology leading the laggards with a drop of ~4.46% and real estate falling ~3.41%.
The local bourse is following US markets. On Friday, all three major US stockmarket benchmarks plunged around 3-4% ahead of the US Fed meeting this Thursday.
The RBA is tipped to hike rates for the first time in more than 10 years tomorrow to put the inflation genie back in the bottle. Australia’s annual inflation rate is 5.1% after consumer prices climbed 2.1% in the March quarter, now way above the RBA’s target of 2-3%.
Iron ore has slumped 4.05% to US$144.90 per dry metric tonne. Brent oil is down 0.41% to US$106.02 per barrel while WTI has fallen 0.48% to US$103.79.
Gold is also down 0.41% to US$1,889.65. The Australian dollar has dropped 0.38% and is buying 70.35 US cents, while Bitcoin is up 1.72% to US$38,473 at 12.25pm (AEST).
Here are the best performing ASX small cap stocks for April 29 [intraday]:
Swipe or scroll to reveal full table. Click headings to sort:
A-based advertising and marketing platform for small and medium businesses Adrabbit (ASX:RAB) has seen its share price soar today after announcing a positive Q3 FY22 results, which included a dual listing on the Toronto Stock Exchange.
Oyster farmer East33 (ASX:E33) also reported it was “significantly ahead of expectation” following a strong April performance.
The company said its geographic diversification enabled harvest despite enormous disruptions due to continued rain. It further diversified sales and distribution operations continue to grow year on year.