Local stocks have made a steady start to the week, with no clear direction from Wall Street after the S&P500 drifted into the close on Friday night.

Demand for the big banks helped the ASX200 to a gain of around 0.5 per cent into midday trade.

That comfortably outperformed the ASX Emerging Companies Index which fell almost one per cent.

Across asset classes, the Aussie dollar continues to hold at a multi-year high above US75c.

Support for the AUD would most likely be fuelled in part by the relentless iron ore rally, which still shows no signs of slowing.

Metal Bulletin’s iron ore index showed benchmark 62% fines booked their 12th straight day of gains to close at $US160.13 per tonne.

The pre-holiday IPO rush has got many investors hoping for an early Christmas present, with another four companies joining the boards today.

But for now, we reckon this punter from Perth has the right idea:

WINNERS

Here are the best performing ASX small cap stocks at 12pm Monday December 14:

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Code Name Price % Change Volume Market Cap
LCY Legacy Iron Ore 0.02 150 37,401,731 $ 49,977,908.14
MLS Metals Australia 0.002 33 479,476 $ 6,286,355.36
VMG VDM Group Limited 0.002 33 250,000 $ 10,391,491.43
CCE Carnegie Cln Energy 0.0015 0 4,134,380 $ 16,994,678.67
CLZ Classic Min Ltd 0.0015 50 10,328,298 $ 15,268,268.31
PCL Pancontinental Oil 0.0015 0 599,999 $ 8,110,073.23
PSL Paterson Resources 0.003 20 5,576,000 $ 11,638,832.65
VIC Victory Mines Ltd 0.003 20 2,500,000 $ 11,040,803.73
SOV Sovereign Cloud Hldg 1.03 37 3,935,983 $ 39,363,261.75
ZLD Zelira Therapeutics 0.13 31 19,023,832 $ 117,346,973.63
BKY Berkeley Energia Ltd 0.76 27 259,135 $ 155,163,252.00
EFE Eastern Iron 0.0125 25 20,739,537 $ 4,736,854.34
LV1 Live Verdure Ltd 0.25 25 4,500,780 $ 8,005,450.20
VPR Volt Power Group 0.0025 25 41,666 $ 22,923,833.90
XTC Xantippe Res Ltd 0.0025 0 1,512,500 $ 10,186,411.01
SHH Shree Minerals Ltd 0.016 23 21,600,633 $ 10,520,079.60
ERA Energy Resources 0.205 21 884,470 $ 627,535,143.66
CLT Cellnet Group 0.074 19 12,013,532 $ 14,359,315.07

ASX debutante Sovereign Cloud Holdings (ASX:SOV) made a strong start to listed life with a morning gain of more than 30 per cent.

Describing itself as an “infrastructure-as-a-service (IaaS)” platform, the company provides data storage services for clients across all levels of government, as well as key infrastructure sectors such as defence.

Elsewhere, Zelira Therapeutics (ASX:ZLD) continued the strong run for cannabis stocks as it climbed to new 2020 highs on the back of another US distribution deal.

LOSERS

Here are the worst performing ASX small cap stocks at 12pm Monday December 14:

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Code Name Price % Change Volume Market Cap
IMM Immutep Ltd 0.41 -25 8,592,344 $ 338,847,011.80
PIN Pinchme.Com 0.05 -23 256,285 $ 9,191,441.68
SCU Stemcell United Ltd 0.024 -23 23,086,496 $ 20,819,859.28
MPH Mediland Pharm 0.072 -22 59,377 $ 28,774,252.12
ARO Astro Resources NL 0.004 -20 4,000,000 $ 14,978,465.06
FMS Flinders Mines Ltd 1.11 -20 60,566 $ 233,011,036.26
SI6 SI6 Metals Limited 0.026 -19 54,004,900 $ 35,898,724.90
S2R S2 Resources 0.135 -18 1,403,688 $ 51,957,044.54
SPQ Superior Resources 0.015 -17 9,256,464 $ 21,436,273.48
XPE Xped Limited 0.0025 -17 400,000 $ 5,378,586.07
DOU Douugh Limited 0.18 -16 13,996,188 $ 77,269,669.37
CNB Carnaby Resource Ltd 0.35 -15 1,026,053 $ 48,267,413.18
AO1 Assetowl Limited 0.007 -13 1,488,286 $ 3,923,428.94
PRM Prominence Energy NL 0.007 -13 3,388,812 $ 3,920,576.58
RMP Red Emperor Resource 0.021 -13 1,551,726 $ 12,607,026.62
MSM MSM Corporation Intl 0.059 -12 914,205 $ 56,235,557.96
AVW Avira Resources Ltd 0.009 -11 3,191,288 $ 12,375,360.00
CE1 Calima Energy 0.008 -11 4,080,000 $ 19,727,443.87
MSG Mcs Services Limited 0.033 -11 46,071 $ 6,892,158.61