Lots going on today.

Victoria’s Covid outbreak stats feel positive – three cases to add to six yesterday, bringing to total to 54. That could change, obviously.

We’re getting a rates call this afternoon. That’s unlikely to change, but the commentary could be mildly spicy.

Also unlikely to change – dem housing prices. CoreLogic’s national Home Value Index is up 2.2% over the month.

That’s stronger than April (1.8%), but weaker than the 32-year high recorded in March (2.8%). Lift your game, Boomers.

CoreLogic’s research director, Tim Lawless notes that of the 334 SA3 sub-regions analysed, 97% recorded a lift in housing values over the past three months. That, he says, “is an absolute rarity”.

Broadly, capital cities are back to their old tricks of outpacing the regions. Sydney is leading the pack again in 2021 with values up 9.3 per cent over the past three months, although Hobart is picking up again, recording a 3.2 per cent jump in May.

Annually, the national winner was… Darwin. It cracked the 20 per cent annual strewth barrier in May.

Regionally, NSW and Tasmania have now booked more than 18 per cent rises over the past 12 months. Regional WA is rubbish, at 0.0 per cent.

To the markets, and the S&P/ASX200 is lower at lunch, dropping -33.90 points (-0.47 per cent) to 7127.70. That’s 1.05% below its recent 52-week high.

 

WINNERS

Here are the best performing ASX small cap stocks at 12pm Thursday, May 27:

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

MetalsTech (ASX:MTC) took gold today – literally. A record intercept – 70m at 9.23g/t gold – at the +1moz Sturec mine in Slovakia sent the exploration stock flying in early trade.

70m at 9.23g/t is truly world class. And truly market-moving:

Image: Marketech

 

LOSERS

Here are the worst performing ASX small cap stocks at 12pm Thursday, May 27:

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

The ASX’s newest fintech fell further today after announcing it had appointed a new chief financial officer. Ouch.

It sounds awkward, but it actually happens a lot. Give him a chance.

Regardless, it’s been a rocky start for Propell which aims to help SMEs with their cash flows offering forecasting tools, credit options and instant invoice payment solutions.

It listed on April 14 after raising $5 million at 20 cents per share, rose 40 per cent higher on debut, and has now dropped to 12 cents.