Sydney is still in lockdown and ‘Fortress Australia’ is still in full effect, but M&A news this morning suggests that big infrastructure investors are banking on the long-term return to pre-COVID travel patterns.

Listed large cap Sydney Airport (ASX:SYD) received an unsolicited takeover offer this morning which saw it shares climb more than 30%.

Across the sector, travel stocks outperformed the broader market this morning with steady gains in well-known travel outlook barometers such as Webjet (ASX:WEB) and Flight Centre (ASX:FLT).

Elsewhere, the ASX200 has made a steady if unspectacular start to the week with a gain of around 0.2% into midday trade.

It follows on from a strong session on Wall Street to end the week, after US jobs data showed a slight uptick the unemployment rate.

That helped ease market fears in some corners that the US Fed will be forced to tighten policy even quicker than currently expected, which in turn helped provide a boost for the big tech names.

However, local stocks were unable to pick up on that momentum with the big banks among today’s losers.

Gold pushed back towards $US1,800 an ounce after the US dollar fell in the wake of Friday’s employment data, while brent crude oil continues to hold above $US75/barrel.

WINNERS

Here are the best performing ASX small cap stocks in morning trade for Monday, July 5:

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Code NAME PRICE % CHANGE VOLUME MARKET CAP
CLZ Classic Minerals 0.0015 50 42,078,794 $21,770,381
SYD Sydney Airport 7.56 30 24,746,380 $15,679,448,470
GRL Godolphin Resources 0.19 27 103,536 $12,616,563
GGX Gas2Grid Limited 0.0025 25 4,063,483 $4,003,102
T3D 333D Limited 0.0025 25 6,239,119 $4,186,133
WOO Wooboard Tech Ltd 0.0025 25 5,689,999 $7,644,325
XST Xstate Resources 0.005 25 2,094,037 $10,758,350
RAS Ragusa Minerals Ltd 0.084 24 18,795,883 $7,113,822
NET Netlinkz Limited 0.035 21 16,745,952 $92,558,467
AFW Applyflow Limited 0.009 21 385,000 $13,519,871
NOR Norwood Systems Ltd. 0.018 20 200,000 $3,945,073
SMI Santana Minerals Ltd 0.096 20 50,500 $9,122,611
TD1 Tali Digital Limited 0.037 16 3,557,739 $29,820,985
ALY Alchemy Resource Ltd 0.015 15 2,980,745 $8,739,165
CSX Cleanspace Holdings 1.8 15 190,687 $120,920,651
SUH Southern Hem Min 0.057 14 100,000 $12,221,988
LVE Love Group Global 0.11 13 500,000 $3,931,814
GSM Golden State Mining 0.17 13 194,981 $12,412,254
HCD Hydrocarbon Dynamic 0.017 13 1,349,921 $6,604,352
AVA AVA Risk Group Ltd 0.47 13 1,594,170 $100,276,202
PVL Powerhouse Ven Ltd 0.13 13 7,757 $10,665,465
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Sydney Airport (ASX:SYD) made a rare large-cap appearance on this morning’s winner’s list, after a global consortium of infrastructure groups and super funds lobbed a $22bn takeover bid to take it private this morning.

The bid valued the company at $8.25 per share — a 42% premium to its Friday closing price. In response, SYD’s board noted that $8.25 is still below the price it traded at before the pandemic, and advised shareholders to take no action.

While SYD shares jumped sharply this morning the stock is trading at around $7.50, well below the $8.25 offer price.

Among the junior explorers, Ragusa Minerals (ASX:RAS) was the pick of the bunch this morning after coming out of a trading halt and flagging two acquisitions.

RAS said it has Heads of Agreement to acquire the Monte Cristo gold project in Alaska, and the exploration licences for a halloysite project at Burracoppin in WA.

And as FY21 reporting season gets underway, security/risk management firm AVA Risk Group (ASX:AVA) rose strongly after upgrading its full-year revenue forecasts this morning.

LOSERS

Here are the worst performing ASX small cap stocks in morning trade for Monday, July 5:

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

CODE NAME PRICE % CHANGE VOLUME MARKET CAP
CPN Caspin Resources 1.11 -43 2,798,532 $117,140,248
KEY KEY Petroleum 0.002 -33 2,431,029 $5,903,784
88E 88 Energy Ltd 0.034 -21 147,320,193 $574,057,744
ASQ Australian Silica 0.1 -20 1,661,380 $33,499,214
LNY Laneway Res Ltd 0.004 -20 56,957 $18,875,330
TTA TTA Holdings Ltd 0.034 -19 71,300 $5,771,783
SIT Site Group Int Ltd 0.009 -18 5,651,598 $9,253,696
MRD Mount Ridley Mines 0.0025 -17 5,582,006 $13,081,844
VIC Victory Mines Ltd 0.0025 -17 1,293,000 $16,704,758
OVT Ovato Limited 0.003 -14 6,653,630 $42,744,843
WLD Wellard Limited 0.055 -14 3,950,000 $34,000,020
DOR Doriemus PLC 0.21 -13 309,616 $17,757,332
MRC Mineral Commodities 0.18 -12 193,994 $93,529,522
WEC White Energy Company 0.115 -12 10,000 $100,682,233
BDG Black Dragon Gold 0.08 -11 10,000 $12,207,524
ARO Astro Resources NL 0.004 -11 200,000 $16,938,869
SBR Sabre Resources 0.004 -11 412,499 $7,573,786
WNR Wingara Ag Ltd 0.125 -11 10,000 $18,589,518
EN1 Engage:Bdr Limited 0.0045 -10 1,666,666 $12,242,857
GTG Genetic Technologies 0.009 -10 698,155 $90,167,267
LSR Lodestar Minerals 0.009 -10 50,000 $12,909,373
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