ASX Small Cap Lunch Wrap: Who’s found a solution to all our burrito problems today?
Link copied to
Ever eaten a burrito and it’s fallen apart in your hands?
Well, engineering students from Johns Hopkins University have found the solution in the form of an edible adhesive tape, called Tastee Tape, to keep burritos sealed up during consumption.
The team tested a ‘multitude’ of ingredients and combinations before settling on a final recipe, which is edible, safe, and has the tensile strength you can trust to hold together a fat burrito.
“First, we learned about the science around tape and different adhesives, and then we worked to find edible counterparts,” engineering student Tyler Guarino said.
“All its ingredients are safe to consume, are food grade, and are common food and dietary additives.”
Prototyping resulted in rectangular strips which come affixed to sheets of waxed paper, and you simply remove the strip from the sheet, wet thoroughly to activate and apply to your burrito or other wrap-type-snack.
— Johns Hopkins University (@JohnsHopkins) May 18, 2022
Also keeping it together today is the ASX 200, up 21.30 points or 0.30% at midday to 7,166.00.
European share markets were firmer on Friday after China cut the five-year loan prime rate by a bigger-than-expected 15 basis points to 4.45%. In economic data, British retail sales rose unexpectedly in April while German producer prices posted a record increase in the month.
In China, the market was supported by soaring momentum in the renewable-energy sector, after the European Union unveiled a new plan to accelerate the region’s green-energy transition.
Chinese solar-power equipment makers, wind turbine suppliers and renewable-energy materials producers led gains.
In the US the Dow fell 2.9% last week – the eighth straight decline and the longest losing streak since 1932. The S&P 400 fell 3.0% and the Nasdaq fell 3.8% – the seventh straight declines and the longest losing streak for both indexes since 2001.
Earnings reports from some of America’s biggest retailers have added to concern that the highest rate of inflation in four decades is catching up with US consumers and pitching the economy toward a recession.
Some analysts, however, say a slowdown in consumer spending could mean the Federal Reserve wouldn’t have to raise interest rates as aggressively to lower consumer demand.
“Some amount of slowdown in discretionary spending will help organically or naturally ease the supply-chain constraints,” said Seth Wunder, Acorns’ chief investment officer. “At the end of the day, that is one of the largest inputs to the inflationary issues we’re facing.”
Global oil prices rose by 0.5%-1.0% on Friday. Supporting prices was the prospect of an European Union ban on Russian oil imports as well as the expected end to the Shanghai Covid lockdown on June 1.
The Brent crude price rose by US51 cents or 0.5% to US$112.55 a barrel.
The iron ore futures price advanced by US$3.33 or 2.5% to US$134.36 a tonne after China announced a bigger-than-expected cut in the benchmark reference rate for mortgages.
Looking ahead, in Australia, the monthly household spending indicator is set to be issued and Reserve Bank Assistant Governor (Financial Markets) Christopher Kent will deliver a speech.
Overseas, a raft of indicators vie for attention in the US including economic growth and inflation readings.
Here are the best performing ASX small cap stocks for May 23 [intraday]:
Swipe or scroll to reveal full table. Click headings to sort:
Discovery Alaska (ASX:DAF) is firming up the lithium potential of its ‘Coal Creek’ prospect, part of the Chulitna project, with evaluation works confirming lithium minerals from historical drill core at the prospect.
“Next stage works include laboratory analysis testing of the prospective core identified from the scanned priority drill holes,” director Jerko Zuvela said.
Wide Open Agriculture (ASX:WOA) has nabbed a supply agreement with Monde Nissin Australia to supply plant-based concentrate Buntine Protein – a high-value concentrate made from lupin seeds that can be used as main ingredient to replace animal-based ingredients for food and beverage applications.
And Ragusa Minerals (ASX:RAG) has acquired a new lithium project in the NT.