ASX Small Cap Lunch Wrap: Who’s doing what they’re told today?

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The party went on a bit too long for poor Hobartians trying to sleep anywhere near the Crowne Plaza yesterday.

After the final (third) day of play in the Fifth Test which saw the Aussies wrap up a 4-0 series win, things kicked on at Hobart’s Customs House hotel and Crowne Plaza.

A good time was had by all, but when the Barmy Army rolls up alongside the Baggy Greens and forces them to sing, you know you’re on a downhill slide:

 

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Early Monday morning, Australians stars Nathan Lyon, Travis Head and Alex Carey were still kicking on with England players Joe Root and Jimmy Anderson.

According to footage obtained by Channel Nine’s newspapers, the kicking on went on well past Hobart bedtime.

“Time for bed,” a local female officer tells the boys.

“No worries,” says Lyon. Some might say, characteristically.

And that’s it. Nothing to see here, as they say.

A similar situation unfolded on the ASX this morning, with the S&P/ASX200 shuffling along 17.20 points or 0.23% up to 7,434.50. It did, however, cross above its 125-day moving average, so that’s something.

The index has gained 0.60% over the past five days and is currently 2.60% off its 52-week high.

So all a bit directionless, which is probably fair, given it seems to defer on such things to its leader, the US markets, which were out for the Martin Luther King Jr holiday (Lyon, who didn’t bowl a single ball in the Fifth Test, at one stage asked his captain if he could sing “Under the Southern Cross”, was told “no” and replied “ok” and sat down again.)

Expect things to ramp up in the US from here on though, as earnings season kicks off in earnest.

And there was a mild surprise in China overnight too, where the PBoC’s first interest rate cut on medium-term loans since April 2020 was bigger than expected.

Weirdly, Chinese President Xi Jinping was at the same time calling for Western nations to, er, not raise interest rates.

Xi reckons if major economies “take a U-turn in monetary policies, there will be serious spillovers that will present challenges to global economic and financial stability”.

OK.

Back to small cap business:

ASX SMALL CAP WINNERS

Here are the best performing ASX small cap stocks for January 13 [intraday]:

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

The biggest winner on any type of notable volume was $14m explorer Zuleika Gold (ASX:ZAG).

Yesterday, it was an $8m explorer but Mark Creasy has jumped in with a $3m private placement from his company, Yandal Investments.

That’s an 80pc uplift today, tyvm.

ASX SMALL CAP LOSERS

Not having such a great day was Redbubble (ASX:RBL), which reported a 25% drop in gross profit for the first six months to $108 million, with EBITDA also plunging by 84% to $8m.

RBL’s stock price nosedived 22% on the news, taking its fall to more than 60% over the last 12 months.

The company has warned of more bad news ahead, saying that it now expected full year revenue to decline further.

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