It was a case of mo’ COVID, no problems for the local market this morning as the ASX200 rose by more than 1 per cent.

The gains followed a strong session on Wall Street overnight as capital flowed back into the US tech heavyweights.

Rumours of a vaccine breakthrough by researchers at the UK’s Oxford University lingered throughout the overnight session, but no big news came to light.

The big news domestically this morning was from the Morrison government, which announced that JobKeeper and JobSeeker payments will be extended for another six months to March 2021.

The cash payments for JobKeeper are expected to be two-tiered at reduced levels, with the $1,500 amount reduced to $1,200 along with a $750 payment for part-time workers.

Businesses applying for the extended JobKeeper scheme will have to undergo another eligibility test to prove loss of revenue.

The improved risk appetite across asset classes saw the Aussie dollar climb back above US70c, while gold remains supported above $US1,800 ($2,586) an ounce.

 

WINNERS

Here are the best performing ASX small cap stocks at 12pm AEST on Tuesday July 21:

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CODE COMPANY PRICE CHANGE MARKET CAP
IMC Immuron 0.48 95.92% $43.7M
GPX Graphex Mining 0.076 94.87% $4.5M
9SP 9 Spokes Intl 0.047 62.07% $57.1M
FGO Flamingo 0.002 50.00% $1.1M
CZL Consolidated Zinc 0.004 33.33% $10.0M
OAR Oakdale Resources Ltd 0.004 33.33% $4.2M
PM1 Pure Minerals 0.017 30.77% $10.7M
TKL Traka Resources Ltd 0.011 22.22% $4.4M
RMX Red Mountain Mining 0.006 20.00% $6.1M
PTX Prescient Therapeutics Ltd 0.069 18.97% $27.2M
PAL Palla Pharma 1.05 17.98% $123.3M
AMD Arrow Minerals 0.01 17.65% $12.0M
SHH Shree Minerals 0.01 16.67% $4.3M
PNR Pantoro 0.265 15.22% $311.9M
AQI Alicanto Minerals Ltd 0.07 14.75% $17.7M
POW Protean Energy 0.008 14.29% $2.5M
NAE New Age Exploration Ltd 0.008 14.29% $7.1M
EM2 Eagle Mountain Mining 0.16 14.29% $18.5M
ASP Aspermont 0.008 14.29% $18.2M
MEY Marenica Energy Ltd 0.072 14.29% $10.0M

 

After being in a trading halt since March, Graphex Mining (ASX:GPX) returned to the ASX boards with a bang, announcing a $2.3m capital raise to finance the acquisition of two gold projects in the West African country of Mali.

The company has ditched its Tanzanian graphite project and will soon rebadge itself as Marvel Gold. Shares in GPX doubled in morning trade to 8c.

Biotech stock Immuron (ASX:IMC) also ripped higher after announcing one of its drug products — IMM-124E — used in the treatment of diarrhoea, could also help in the fight against COVID-19.

And B2B tech platform 9 Spokes (ASX:9SP) was among the leaders after coming out of a three-week trading halt to announce a five-year distribution partnership with global payments giant Visa.

 

LOSERS

Here are the worst performing ASX small cap stocks at 12pm AEST on Tuesday July 21:

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CODE COMPANY PRICE CHANGE MARKET CAP
EYE Nova Eye Medical 0.38 -50.32% $54.6M
PSL Paterson Resources 0.002 -42.86% $7.7M
QFY Quantify Technology 0.001 -33.33% $2.0M
KAS Kasbah Resources 0.009 -25.00% $1.4M
GTG Genetic Technologies 0.009 -25.00% $67.6M
OLV Otherlevels Holdings Ltd 0.004 -20.00% $2.3M
WML Woomera Mining 0.013 -18.75% $3.3M
SBW Shekel Brainweigh 0.12 -17.24% $20.2M
RDN Raiden Resources 0.006 -14.29% $3.0M
LIT Lithium Australia NL 0.006 -14.29% $29.8M
RIM Rimfire Pacific Mining NL 0.006 -14.29% $9.5M
AO1 Assetowl 0.006 -14.29% $2.9M
RLE Real Energy Corporation Ltd 0.02 -13.04% $7.1M
GO2 GO2 People 0.04 -14.00% $6.1M
WLD Wellard Ltd 0.045 -11.76% $23.9M
KP2 Kore Potash DRC 0.015 -11.76% $26.5M
ESH Esports Mogul Asia Pacific Ltd 0.004 -10.00% $10.2M
NTI Neurotech Intl 0.009 -10.00% $2.2M