ASX Small Cap Lunch Wrap: Who’s following in the footsteps of giants today?
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Following in the footsteps of Microsoft and Google, Aussie food processor SPC has announced mandatory vaccines for all staff and visitors.
SPC Chair Hussein Rifai reckons the company is akin to essential services like aged care and front-line medical staff.
“We believe that it’s a precedent for companies to ask their employees to do something that’s reasonable to protect them, protect their co-workers, and protect the society that they’re in,” he said.
Staff have six weeks to book their first vaccination or risk being barred from on-site work – but they will get paid leave and up to two days of ‘special leave’ for recovery if they become unwell after.
Wall Street’s main indexes closed mostly lower overnight.
After six straight months of gains, the benchmark S&P 500 has struggled to rise in August over concerns about the pace of growth as the economy rebounded from the depths of the COVID-19-driven recession, and fears of higher inflation overshadowed a stellar corporate earnings season, Morningstar says.
Still, tech and tech-adjacent stocks such as Netflix, Amazon.com and Facebook, which tend to perform better when interest rates are lower, outperformed the broader market yesterday.
The local bourse has bounced higher in early trade, with the benchmark ASCX 200 index 0.22% to 7,520.
Here are the best performing ASX small cap stocks in morning trade for Thursday, August 5:
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The biggest gainer today was Wooboard Technologies (ASX:WOO), which ticked higher by 100% to 0.2c on no news.
There was also a big jump for ASX newcomer Pantera Minerals (ASX:PFE), the WA-based iron ore/ copper/ manganese explorer which ripped higher on debut after raising $7m from investors at 20c per share.
Up 17% was Lithium Energy (ASX:LEL) off the back of news it’s edging closer towards environmental approval for its Solaroz project in Argentina.
And Iodm (ASX:IOD) rose 15% after announcing a new revenue opportunity from its WUBS partnership agreement in the UK of around $465,000-$780,000 per annum – dependent on the number of students that pay their tuition fees and accommodation through the payment’s platform.
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Renegade Exploration (ASX:RNX) dropped 14% on no news, with Valor Resources (ASX:VAL) also down 14% even after announcing radiometrics had revealed new anomalies at its Hook Lake uranium project in Canada.