Today is Black Friday, one of the biggest shopping events of the year with everyone from Amazon to Virgin Australia offering major discounts to entice shoppers.

Estimates from firms including Roy Morgan and Boston Consulting Group have predicted a sales surge of around $5 billion. In addition, more than 80% of Australians are expected to participate in this year’s sales extravaganza.

The latter figure would be well up from just 43% last year.

Local share markets haven’t been as vibrant on this Black Friday.

Local stocks were expected to get off to a slow start, with no lead from Wall Street after US markets were closed for Thanksgiving.

But things have turned to a sea of red, with the ASX 200 down more than 1% shortly after 12pm.

The selloff extended across every sector, and was led by energy which lost 2.12% as oil prices fell.

More lockdowns in Europe and concerns about a ‘rona variant emerging from southern Africa have again raised fears of COVID-19 disruptions to global economic activity, as brent crude oil prices fell back towards US$80.

As a measure of risk-off sentiment, the Aussie dollar has been sold off across the board and is now falling further below US72c.

ASX SMALL CAP WINNERS

Here are the best performing ASX small cap stocks for November 26 [intraday]:

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Agtech Roots (ASX:ROO) unveiled plans to enter the African market.

And cybersecurity company Prophecy International (ASX:PRO) rose after a company update.

NSW coal company NuCoal (ASX:NCR) rose off the back of an ICAC report which gave hope to shareholders that it might be able get its coal licenses back. It noted the financial losses suffered by shareholders and advised the NSW government had six months to respond to its recommendations.

 

ASX SMALL CAP LOSERS

Here are the worst performing ASX small cap stocks for November 26 [intraday]:

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Vita Group (ASX:VTG), a company which once operated Telstra stores but has diversified to skin clinics, fell after downgrading its guidance.