ASX Small Cap Lunch Wrap: Who’s extending the runway today?
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Victoria has started the week with 116 new COVID-19 cases, its lowest daily tally since July 5. And while that makes for some positive news, Vic premier Dan Andrews isn’t taking any chances.
Andrews fronted the press this morning and said the state’s emergency laws could be extended for another year from their current September 13 end-date.
While the full quota may not be required, maintaining a state of emergency means the government can quickly rollout stricter lockdown measures if the virus starts spreading again.
Globally, the COVID-19 picture still looks pretty murky, with US President Trump flagging a potential COVID-19 treatment (not a vaccine) that’s been shown to improve symptoms in more than 30 per cent of patients.
Meanwhile, new cases are climbing again across Europe while in Mexico the death toll has climbed past 60,000 but concerns around the validity of data suggest the actual figure could be significantly higher.
To markets, and it’s been a relatively serene start to the week as the ASX200 edged higher into midday trade.
The Small Ords index outperformed to climb by around one per cent, and has now gained 55 per cent from its March lows.
Here are the best performing ASX small cap stocks at 12pm Monday August 24:
There were plenty of small caps ticking higher in percentage terms, but not many started the week with market-moving announcements.
As FY20 reporting season rolls on, investors approved of the full-year results for Shaver Shop (ASX:SSG) and vet services provider Apiam (ASX:AHX) although neither stock rose strongly enough to get onto today’s lunchtime winners list.
And among the market leaders was fintech compliance platform Identitii (ASX:ID8), which ripped higher by more than 60 per cent on the back of a new distribution deal with Mastercard.
Here are the worst performing ASX small cap stocks at 12pm Monday August 24: