Local stocks looked pretty sick yesterday, as markets sold off on fears that US interest rates may rise faster than expected.

But overnight, Wall Street bounced back as US investors digested the rates update and got back to regular programming.

Major US banks were among the best performers and that move has flowed through to Asian trade, just one day after the ASX financials index posted its biggest fall since May 29, 2020.

Mining stocks are also up as investors get comfortable with the idea that policy makers are managing the economic recovery while keeping inflation expectations anchored, as CPI prints rise through the middle of the year.

The US dollar has dipped back from the high it struck during the (brief) bout of risk-off sentiment, while gold is trading just below US$1,800/oz.

Crypto is still under pressure, as Bitcoin’s 50-day moving average fell below its 200-day moving average — a technical trading indicator known as the “death cross” that could signal more falls to come.
 

WINNERS

Here are the best performing ASX small cap stocks at 12pm Tuesday, June 22:

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CODE NAME PRICE % CHANGE VOLUME MARKET CAP
FME Future Metals NL 0.205 69 15,596,970 $36,251,930
RAG Ragnar Metals Ltd 0.05 61 71,793,525 $10,468,232
CLZ Classic Min Ltd 0.0015 50 14,410,822 $21,770,381
SUD Suda Pharmaceuticals 0.05 39 16,630,520 $13,847,616
AAU Antilles Gold Ltd 0.088 35 27,167,445 $16,405,258
XTC Xantippe Res Ltd 0.002 33 594,000 $6,111,847
ACR Acrux Limited 0.15 30 3,131,225 $32,580,120
CCE Carnegie Cln Energy 0.0025 25 46,400,116 $29,405,147
ZEU Zeus Resources Ltd 0.1 23 3,879,386 $16,779,150
CAP Carpentaria Resource 0.19 23 13,595,606 $73,739,800
AOA Ausmon Resorces 0.006 20 1,424,719 $3,553,297
TNT Tesserent Limited 0.24 18 8,270,562 $217,918,825
DTR Dateline Resources 0.105 15 141,812 $34,377,634
RAN Range International 0.015 15 1,304,264 $5,867,829
88E 88 Energy Ltd 0.023 15 277,816,663 $262,930,904
MLT Milton Corporation 5.72 14 1,233,420 $3,371,151,820
ICN Icon Energy Limited 0.016 14 197,500 $8,366,497
PEC Perpetual Res Ltd 0.125 14 1,796,949 $52,418,124
TIN Tnt Mines Limited 0.17 13 8,089,256 $14,463,480
CUL Cullen Resources 0.026 13 1,172,495 $8,600,106
RTR Rumble Res Limited 0.53 13 1,549,617 $288,950,402
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Ragnar Metals (ASX:RAG) led from the front after the first drilling program at its fully-owned Tullsta nickel project in Sweden intersected “significant magmatic sulphide mineralisation” in the second drill hole.

The update sent RAG shares ~60% higher to a 2021 high of around 5c.

Also rising strongly was SUDA Pharmaceuticals Ltd (ASX:SUD), which announced firm commitments for an over-subscribed share placement at 3.8c to raise $3.65m.

The offer marked a premium to SUD’s last traded closing price of 3.6c, but is now a discount to its 5c valuation this morning.

SUDA said the funds raised will support initial development of the iNKT cell therapy platform that it recently acquired from Imperial College, London.

And cybersecurity firm Tesserent (ASX:TNT) was also on the winner’s list, after advising it now expects annualised turnover to June 30 of around $180m, up from its previous forecast of $150m.
 

LOSERS

Here are the worst performing ASX small cap stocks at 12pm Tuesday, June 22:

Swipe or scroll to reveal the full table. Click headings to sort.

CODE NAME PRICE % CHANGE VOLUME MARKET CAP
MR1 Montem Resources 0.03 -57 24,857,240 $13,750,934
ATU Atrum Coal Ltd 0.028 -41 18,449,436 $27,350,788
ANL Amani Gold Ltd 0.001 -33 3,500,000 $18,580,495
GES Genesis Resources 0.012 -20 2,112,230 $11,742,619
LNY Laneway Res Ltd 0.004 -20 110,000 $18,875,330
KNM Kneomedia Limited 0.005 -17 1,948,429 $5,929,480
WOO Wooboard Tech Ltd 0.0025 -17 335,383 $11,466,488
SYA Sayona Mining Ltd 0.055 -15 77,036,954 $328,667,816
SOP Synertec Corporation 0.099 -14 335,128 $32,877,172
ESH Esports Mogul Ltd 0.007 -13 170,000 $23,057,794
HCD Hydrocarbon Dynamic 0.014 -13 345,931 $7,044,642
A8G Australasian Gold 0.14 -13 363,847 $5,298,391
NGS NGS Ltd 0.175 -13 223,908 $9,141,073
AAP Australian Agri Ltd 0.023 -12 2,164 $7,931,082
LSR Lodestar Minerals 0.08 -11 1,211,110 $11,618,436
OPL Opyl Limited 0.17 -11 10,290 $10,333,223
ACW Actinogen Medical 0.14 -10 4,617,426 $257,386,575
PVW PVW Res Ltd 0.14 -10 25,000 $10,455,636
KTE K2 Energy Ltd 0.02 -9 683,598 $6,614,457
MIO Macarthur Minerals 0.435 -8 31,296 $66,791,714
EPN Epsilon Healthcare 0.14 -8 511,506 $28,906,042
NXM Nexus Minerals Ltd 0.068 -8 750,035 $18,067,224
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