ASX Small Cap Lunch Wrap: Who’s fugitive flamingo has been spotted today?

Back in 2005, flamingo No. 492 escaped from Sedgwick County Zoo in Kansas after a big gust of wind came through before the keepers had a chance to clip his wings.

It’s been 17 years and the flamingo – dubbed Pink Floyd – has just been spotted living his best life in Texas.

Sedgwick County Zoo’s director of strategic communications Jennica King said the salt water and mild climate are perfect for him.

“Once it flew away and was spotted in Texas, we were certainly happy to hear that it was OK,” she said.

“Every time we hear of it being spotted every couple of years, we’re still pleased that he’s doing well.”

“His presence down there is not hurting the ecosystem or anything, and he’s not a nuisance. Flamingos are very non-aggressive birds.”

To Markets …

The ASX 200 is down 50.60 points or 0.68% at midday today to 7,434.60.

US stocks fell yesterday as investors worried that Covid-19 lockdowns in China could exacerbate supply-chain problems and weigh on economic growth.

“China is weighing on people’s minds quite a bit,” said Ernesto Ramos, head of integrated equity at Columbia Threadneedle Investments. He said the lockdowns are “creating all kinds of supply side bottlenecks for the US consumer and for US manufacturers that rely on goods from China for their finished products.”

European markets mostly fell as investors retreated amid ongoing economic uncertainty, but the French CAC 40 edged up 0.1% after President Emmanuel Macron did better than expected in the first round of France’s presidential elections.

In London, a decline in oil prices weighed on the energy sector, CMC Markets UK says.

The threat of weakening demand from China resulting from Covid-19 restrictions being introduced in Shanghai hit the sector, and concerns about rising energy prices are in particular focus given CPI inflation data coming later in the week for the UK, it added.

In Australia, the CBA Household Spending Intentions index was released, and rose by 9.2% in March to a record high of 117.1 – led by higher gains for transport, travel, retail and household services.

ASX SMALL CAP WINNERS

Here are the best performing ASX small cap stocks for April 12 [intraday]:

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

Krakatoa Resources (ASX:KTA) came out of a trading halt to announce a “major clay hosted rare earth discovery” at the ‘Mt Clere’ project in WA.

Assay results from the Tower prospect confirmed that widespread clay hosted, ready soluble REE’s exist at significant concentrations within the thick saprolite regolith of the project.

“This discovery has come at a great time for the company and our shareholders. Demand for these magnetic and critical REEs are expected to increase over the next ten years, as the world embarks on the electric revolution,” CEO Mark Major said.

“We are now in a strong position to capitalise on this potential as we have only covered a six square kilometre area, mineralisation is open, thick and close to surface. Significantly, we have multiple other high priority targets within the extensive 2,300km2 property.”

And Anax Metals (ASX:ANX) has drilled into “spectacular” massive sulphides at the ‘Whim Creek’ project.

Metallurgical test work is due to commence shortly and is expected to confirm visual estimates of compatibility with existing processing design engineering work.

“It is intended for both high grade deposits to feed directly into the Whim Creek development scenario,” the company says.

ASX SMALL CAP LOSERS