After falling by a record seven per cent in June, Australia’s economy has bounced back.

GDP growth for the September quarter came in at 3.3 per cent this morning, bringing the country out of a technical recession.

Reflecting the impact of COVID-19, economic growth in annual terms still slumped by 3.8 per cent — the largest fall since World War II.

Local stocks were relatively directionless in morning trade, as the ASX200 edged lower while the Small Ords Index traded flat.

November’s barnstorming rally makes for a more complex setup into December as the global economy emerges from the worst of the crisis (oh, and there’s also plenty of IPOs in the can before markets clock off for Christmas).

WINNERS

Here are the best performing ASX small cap stocks at 12pm Wednesday December 2:

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Stocks highlighted in yellow have made market-moving announcements
CODE NAME PRICE % CHANGE MARKET CAP
ANL Amani Gold Ltd 0.0015 50 $ 9,386,996.75
CLZ Classic Min Ltd 0.0015 50 $ 15,268,268.31
CYQ Cycliq Group Ltd 0.003 50 $ 3,944,459.96
CPH Creso Pharma Ltd 0.069 38 $ 34,420,920.85
XPE Xped Limited 0.002 33 $ 2,689,293.04
PUR Pursuit Minerals 0.02 33 $ 10,625,271.03
RGI Roto-Gro Intl Ltd 0.071 22 $ 11,441,762.37
GSW Getswift Limited 0.31 22 $ 54,915,376.85
AGE Alligator Energy 0.006 20 $ 10,616,504.09
VIC Victory Mines Ltd 0.003 20 $ 11,040,803.73
VPR Volt Power Group 0.003 20 $ 22,923,833.90
DXN DXN Limited 0.019 19 $ 16,972,729.79
FRX Flexiroam Limited 0.033 18 $ 13,897,366.00
CGO CPT Global Limited 0.33 18 $ 10,712,870.28
HMD Heramed Limited 0.135 17 $ 12,661,406.51
SLX Silex Systems 0.75 17 $ 110,571,096.96
XF1 Xref Limited 0.38 17 $ 59,184,249.48
WCG Webcentral Group Ltd 0.325 16 $ 39,326,219.52
LCT Living Cell Tech. 0.016 14 $ 8,000,173.73
ARN Aldoro Resources 0.16 14 $ 9,293,312.42
TD1 Tali Digital Limited 0.041 14 $ 26,974,987.85

Penny stock Cycliq Group (ASX:CYQ) rose after telling the market it got a boost from the Black Friday/Cyber Monday ecommerce promotion over the weekend.

The $4m market cap company, which manufactures lights and safety cameras for bikes, said it booked unit sales of 5,413 over ‘Cyber Weekend’ — up from 2,685 in 2019 — with average revenue per unit of $250 (up 44 per cent). Shares in CYQ ticked higher by 50 per cent at the opening bell.

Also posting a 50pc gain in morning trade was medicinal cannabis company Creso Pharma (ASX:CPH), following a sales announcement in the European market.

Creso flagged additional sales for its anibidiol® line of animal health products, with three new purchase orders totalling CHF277,000 ($414,000).

LOSERS

Here are the worst performing ASX small cap stocks at 12pm Wednesday December 2:

CODE NAME PRICE % CHANGE MARKET CAP
MRD Mount Ridley Mines 0.002 -33 $ 9,255,639.13
YPB YPB Group Ltd 0.002 -33 $ 12,685,076.94
RFN Reffind Limited 0.002 -20 $ 4,206,091.76
ELT Elementos Limited 0.005 -17 $ 18,639,622.41
PSL Paterson Resources 0.0025 -17 $ 13,516,599.18
TYX Tyranna Res Ltd 0.006 -14 $ 8,976,524.67
ECS ECS Botanics Holding 0.034 -13 $ 13,998,417.23
GTG Genetic Technologies 0.0075 -12 $ 70,224,677.32
TAO TAO Commodities 0.23 -12 $ 8,420,533.42
SGI Stealth Global 0.098 -11 $ 10,439,000.00
SNS Sensen Networks Ltd 0.125 -11 $ 63,084,999.32
KGD Kula Gold Limited 0.035 -10 $ 6,076,419.65
AFW Applyflow Limited 0.009 -10 $ 18,065,264.60
MGT Magnetite Mines 0.009 -10 $ 28,563,531.60
RIM Rimfire Pacific 0.009 -10 $ 18,062,447.35
KGL KGL Resources Ltd 0.29 -9 $ 107,439,366.72
SPN Sparc Tech Ltd 0.39 -9 $ 23,121,874.86
KFE Kogi Iron Ltd 0.02 -9 $ 17,039,785.97
DCC Digitalx Limited 0.1 -9 $ 67,889,663.93
RGS Regeneus Ltd 0.11 -8 $ 36,034,125.72