Extensions… typically preferable for school homework assignments or responses to ASX queries — not so much for COVID-19 lockdowns.

As of this morning, Melbournians are set to face another week largely confined to their homes, after the June 3 deadline was extended for another seven days.

Despite only six new cases from more than 50,000 tests, the current strain on the loose has proven stubborn with health authorities flagging instances of stranger-to-stranger transmission just by being in close proximity.

ASX stocks are largely buoyant, with all the major indexes on track for a solid session.

March-quarter GDP data this morning showed Australia’s economy has completely bounced back, and is now larger than it was before the pandemic.

Energy stocks are up, after an OPEC agreement to slowly increase supply saw oil prices rise overnight. Broader gains were also led by mining stocks after iron ore rose back above US$200/t.

US stock futures are also pointing slightly higher while gold is holding around US$1,900/oz amid a broader downtrend for the US dollar.
 

WINNERS

Here are the best performing ASX small cap stocks at 12pm Wednesday, June 2:

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

It’s been a good morning for biotech Amplia Therapeutics (ASX:ATX), as investors responded positively to an update on the use of its AMP945 — Focal Adhesion Kinase (FAK) inhibitor.

When used in an animal model of aggressive pancreatic cancer, adding to AMP945 to the combined use of gemcitabine and Abraxane – a common treatment for pancreatic cancer — the therapy “increases survival by 27%”.

Also rising strongly was diversified technology company Synertec Corporation (ASX:SOP), which provided a trading update on revenues and product development across its various tech and engineering units.

The Melbourne-based company said it had grown its workforce by around 50 per cent since Victorian COVID-19 restrictions were lifted late last year.

“This has allowed the company to pitch for, and win, new contract awards across its target sectors, including a contract with Melbourne Water,” SOP said.

“The status of our engineering business as a self-sustaining, cash-generative profit centre stands as a positive example and leading indicator of what we foresee for our technology development business,” the company added.

Also appearing on today’s winners’ list was medtech company Visioneering Technologies (ASX:VTI), which makes and sells the NaturalVue Multifocal contact lens. Shares in the company rose by around 20% to 1.3c following an investor update.
 

LOSERS

Here are the worst performing ASX small cap stocks at 12pm Wednesday, June 2:

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