Momentum in global markets has slowed through the middle of September, following a strong post-COVID rally which peaked in August.

And as investors go back to the drawing board, so is the Canadian town of Asbestos, which is yet to pull the trigger on a name-change after residents baulked at four new suggestions.

Before it became a public health hazard in the 1970s, asbestos was the town’s largest export and a source of pride.

But the negative connotations are now too much to ignore, and some residents say it’s hurting business.

While locals aren’t happy with the choice of suggestions, the town has committed to changing the name next month, with voting rights available for all residents aged 14 and over.

To markets, and the ASX has made a subdued start to the week after US stocks fell by more than one per cent on Friday night.

The ASX200 was around 0.5pc lower into midday trade, with similar falls for the Emerging Markets Index which posted a 5.2 per cent rally over the previous seven trading days.

Elsewhere the Aussie dollar is holding above US73c, while benchmark iron ore prices rebounded to climb back above $US125 per tonne.

Gold is holding steady at around $US1,950 an ounce while copper prices rose to two-year highs on strong demand out of China.

WINNERS

Here are the best performing ASX small cap stocks at 12pm Monday September 21:

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CODE NAME PRICE % CHANGE MARKET CAP
AUH Austchina Holdings 0.008 100 $ 6,536,497.44
COY Coppermoly Limited 0.028 100 $ 29,780,995.85
XTC Xantippe Res Ltd 0.0045 50 $ 12,223,693.21
XPE Xped Limited 0.003 50 $ 4,482,155.06
ENX Enegex Limited 0.067 40 $ 4,823,987.38
BSM Bass Metals Ltd 0.004 33 $ 10,445,027.21
MSI Multistack International 0.008 33 $ 673,823.54
TPD Talon Petroleum Ltd 0.004 33 $ 13,055,368.58
DWS DWS Ltd 1.17 31 $ 118,648,195.20
VR1 Vection Technologies 0.087 28 $ 56,962,027.50
SVM Sovereign Metals 0.37 28 $ 114,328,892.69
ELT Elementos Limited 0.005 25 $ 15,533,018.68
LCY Legacy Iron Ore 0.005 25 $ 31,236,192.59
TTM Titan Minerals 0.155 24 $ 137,859,031.75
CWL Consol Financial Hld 0.021 24 $ 2,156,072.57
PG1 Pearl Global Ltd 0.075 23 $ 18,181,824.03
DVL Dorsavi Ltd 0.028 22 $ 5,322,833.05
JAL Jameson Resources 0.14 22 $ 34,883,167.35
LKE Lake Resources 0.073 22 $ 46,627,717.44
ALY Alchemy Resource Ltd 0.023 21 $ 12,772,625.61

$30m explorer Coppermoly (ASX:COY), which operates the Mt Nakru copper-zinc project in Papua New Guinea, has continued its torrid run higher on no news.

The stock posted consecutive strong returns at the end of last week, before getting a Price Query from the ASX where the company advised it wasn’t aware of any information that gave rise to such a move.

COY shares followed that up by doubling in morning trade today, which saw the stock rise to 2.7c — up from 0.9c at close of trade last Wednesday.

Also on the winner’s list was tech company DWS Ltd (ASX:DWS), which jumped by around 30 per cent on the back of a takeover offer from Indian tech giant HCL Technologies.

The offer was priced at $1.23 per share, a ~37pc premium to DWS’ Friday closing price of 90c.

LOSERS

Here are the worst performing ASX small cap stocks at 12pm Monday September 21:

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CODE NAME PRICE % CHANGE MARKET CAP
SAN Sagalio Energy Ltd 0.052 -41 $ 17,600,771.18
ANL Amani Gold Ltd 0.002 -33 $ 23,514,590.24
ECT Env Clean Tech Ltd. 0.001 -33 $ 9,601,032.79
IKW Ikwezi Mining Ltd 0.004 -33 $ 24,390,000.00
BYE Byron Energy Ltd 0.210 -26 $ 296,484,104.07
KAS Kasbah Resources 0.015 -25 $ 2,707,599.04
MNB Minbos Resources Ltd 0.002 -20 $ 16,256,403.30
MRD Mount Ridley Mines 0.002 -20 $ 6,706,984.88
RXH Rewardle Holding Ltd 0.008 -20 $ 5,263,214.88
KPE Kina Petroleum Corp 0.750 -18 $ 11,554,283.65
MLS Metals Australia 0.003 -17 $ 10,945,058.33
ROG Red Sky Energy. 0.003 -17 $ 6,108,549.83
AHL Ahalife Holdings Ltd 0.006 -14 $ 9,309,919.74
CYQ Cycliq Group Ltd 0.003 -14 $ 5,879,189.95
YPB YPB Group Ltd 0.003 -14 $ 10,240,379.15
LPI Lithium Pwr Int Ltd 0.190 -14 $ 57,863,058.66
GES Genesis Resources 0.026 -13 $ 23,485,238.82
HRN Horizon Gold Ltd 0.410 -13 $ 40,923,932.59
FFG Fatfish Group 0.014 -13 $ 13,046,115.31
KNM Kneomedia Limited 0.014 -13 $ 14,503,105.04
MRQ Mrg Metals Limited 0.007 -13 $ 9,873,213.11