The ASX has gotten off to a steady (if unspectacular) start to the new week.

Switching to sports briefly, news emerged overnight of a new breakaway league in European soccer that will only include a group of the largest and richest clubs.

The controversial move has been bandied around for years, but this time a bunch of big-name clubs have actually gone and done it.

Fans are pissed, while various bans and legal challenges have already been proposed.

Confirmation of the new league also comes literally 24 hours before soccer’s governing body is scheduled to rule on new reforms to the Champion’s League format, so watch this space.

Also worth watching:

  • Bitcoin, which fell to three-week lows at around $US56,000 over the weekend;
  • Gold, which has quietly risen by more than five per cent so far in April to around $US1,780/oz; and
  • These ASX small caps, which led the pack this morning as March quarter reporting season gets underway.

The ASX200 is trading slightly higher with a gain of 0.3pc into midday trade, while the microcap Emerging Companies Index is slightly in the red.

 

WINNERS

Here are the best performing ASX small cap stocks at 12pm Monday April 19:

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

Rumble Resources (ASX:RTR) and Zenith Minerals (ASX:ZNC) were today’s biggest winners after confirming a lead-zinc discovery at their Earaheedy project in WA – which they own 75 per cent and 25 per cent of respectively.

26 out of 26 drill holes hit visual zinc-lead mineralisation and lab assays for the first couple of holes returned a highlight 34m at 4.22% zinc and lead from 66m, including a higher grade 14m ‘core’ grading 7.05% zinc and lead.

Province Resources (ASX:PRL) rose too after becoming the latest company to hint at entering green hydrogen. It has signed a non-binding MOU with French power producer Total Eren to build an 8GW green hydrogen project in WA.

Medical imaging stock Optiscan (ASX:OIL) climbed after hiring a new chairman – former Healthscope CEO Robert Cooke.

 

LOSERS

Here are the worst performing ASX small cap stocks at 12pm Monday April 19:

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

 

When the ASX suspends securities it’s typically without any notice, leaving shareholders trapped. But on the rare occasion when they do give notice, why wouldn’t you exit when you have the chance?

This happened with today’s biggest loser K2 Energy (ASX:KTE) which the ASX has thought for several months has inadequate operations to warrant being listed.

The company has been trying to be re-classified as an investment company to get the ASX to change its mind. But today it told shareholders its endeavours were unsuccessful and would likely be suspended on May 7 leading to its shares nearly halving.