Global investors were bracing for a rough earnings season, but most companies have so far surpassed much-lowered analyst expectations.

Refinitiv data showed that about 60 per cent of the biggest European listed companies have, so far, beaten dramatically lowered estimates.

On Wall Street, about 82 per cent of S&P 500 companies reporting so far have beaten estimates.

Meanwhile, the Australian reporting season continues today with large cap rail company Aurizon Holdings and real estate giant GPT Group – both of which nudged higher in early trade.

The ASX more generally is in positive territory, with the benchmark ASX 200 Index up 0.85 per cent to 6,055 points by 11:30am AEST.

 

WINNERS

Here are the best performing ASX small cap stocks at 12pm Monday August 10:

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CODE COMPANY PRICE CHANGE MARKET CAP
QFY Quantify Tech 0.002 100.00% $2.0M
EMD Emerald Clinics 0.07 72.09% $7.9M
RIE Riedel Resources Ltd 0.012 33.33% $3.8M
CAD Caeneus Minerals 0.006 33.33% $14.0M
SES Secos Group Ltd 0.14 27.27% $47.0M
PUR Pursuit Minerals 0.023 27.78% $7.4M
KEY Key Petroleum Ltd 0.005 25.00% $7.9M
VPR Volt Power Group 0.0025 25.00% $18.3M
TYX Tyranna Resources 0.005 25.00% $4.5M
VXR Venturex 0.084 23.53% $24.3M
POW Protean Energy 0.011 22.22% $2.8M
SBW Shekel Brainweigh 0.2 21.21% $22.9M
BRV Big River Gold 0.046 21.05% $50.1M
CBE Cobre 0.18 20.00% $15.4M
CHK Cohiba Minerals Ltd 0.012 20.00% $8.9M
AXE Archer Exploration Ltd 0.465 19.23% $87.5M
WOA Wide Open Agriculture 0.66 17.86% $46.0M
JRL Jindalee Resources Ltd 0.405 17.39% $13.4M
ATH Alterity Therapeutics 0.061 17.31% $56.4M

 

Biotech Emerald Clinics (ASX:EMD) jumped +70 per cent after signing a contract with the UK arm of pot giant Canopy Growth.

Secos Group (ASX:SES) locked in a significant supply contract for its compostable pet waste bags with a leading US pet supply company.

The stock was up +25 per cent in morning trade.

And quantum computing stock Archer Materials (ASX:AXE) is progressing through milestones as it aims to build a room-temperature quantum computing qubit processor.

 

LOSERS

Here are the worst performing ASX small cap stocks at 12pm Monday August 10:

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CODE COMPANY PRICE CHANGE MARKET CAP
BAS Bass 0.001 -33.33% $5.0M
CFE Cape Lambert Resources 0.002 -33.33% $3.5M
ARO Astro Resources NL 0.002 -33.33% $2.5M
VIC Victory Mines 0.001 -33.33% $3.6M
MLS Metals Australia 0.002 -33.33% $9.6M
MOQ MOQ 0.11 -26.67% $19.5M
FRM Farm Pride Foods Ltd 0.23 -23.33% $12.7M
S2R S2 Resources Ltd 0.105 -22.22% $32.5M
KZA Kazia Therapeutics 0.69 -21.59% $83.3M
XTC Xantippe Resources 0.002 -20.00% $8.0M
DDT DataDot Technology Ltd 0.004 -20.00% $6.3M
RMP Red Emperor Resources 0.01 -16.67% $6.3M
WML Woomera Mining 0.021 -16.00% $5.1M
NTL New Talisman Gold 0.006 -14.29% $19.6M
ERL Empire Resources Ltd 0.013 -13.33% $12.0M
CYM Cyprium Metals 0.165 -13.16% $10.7M
GEV Global Energy Ventures 0.053 -13.11% $23.6M
S66 Star Combo Pharma 0.365 -13.10% $56.9M
MTC Metalstech 0.2 -13.04% $22.0M

 

Farm Pride Foods (ASX:FRM) fell after confirming that the Lethbridge facility in Victoria has tested positive for H7N7 avian influenza virus.

The approximate number of hens lost represents about 30 per cent of the company’s productive hen flock, it says.

The full financial impact of this event is still being determined “but is considered material”.