Local markets are moving higher into midday trade as greater Sydney got the news this morning it will remain in lockdown for another week as COVID-19 stays on the loose.

But there’s a silver lining to Sydney’s lockdown extension, that only people up in the Hunter Valley would understand.

With next Wednesday’s State of Origin match unable to be held in Sydney, the game has been moved to Newcastle and the ground will welcome 22,000 fans.

Hailing the news was Knights legend and general manager Danny Buderas, who said it’d be the biggest event since the aftermath of the 1997 grand final. We all know how that ended:

The ASX 200 rose 0.56 per cent, reaching 7,302 points by 11.45am (AEST).

After gains in the past couple of days energy shares retreated over 2 per cent but all other sectors were higher, led by tech which gained 2.48 per cent.

 

WINNERS

Here are the best performing ASX small cap stocks in morning trade for Wednesday, July 7:

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Today’s two IPOs both made impressive debuts, with Burley Minerals (ASX:BUR) ripping higher by 80 per cent and Askari Metals (ASX:AS2) climbing by 20 per cent.

And investors responded positively to an update from Cohiba Minerals (ASX:CHK), a NSW focused copper explorer, which announced it will commence another drilling program at its Horse Well project.

LOSERS

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Workplace protection equipment maker Cleanspace (ASX:CSX) fell after releasing its preliminary half-year financial results.

Investors previously sold off the company in March after it revealed a drop in North American sales.

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