ASX stocks have edged lower into midday trade to start the week, with broader falls across Asian markets.

It follows a high-profile miss for US jobs data on Friday night, with the near-term outlook for markets largely based around whether the US Fed will start tapering its asset purchase program.

The next key update out of the US comes on Thursday night, with the release of inflation data for May.

Accompanying today’s trading session will be the (most likely) comical resolution of the Mayweather vs Paul semi-pro boxing extravaganza, first announced in late April.

At the time of print, the main event was just about to get underway in Miami.

And while small cap stocks can often throw up some unusual narratives for investors, we doubt markets will have anything to match the level of chaotic entertainment that retired pro boxers and 20-something YouTube stars will produce.
 

WINNERS

Here are the best performing ASX small cap stocks at 12pm Monday, June 7:

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

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Shareholders in Globe Metals & Mining (ASX:GBE) saw their investment more than double this morning, after the company advised that a key governing body in Malawi has recommended approval for GBE to be granted a mining licence at its Kanyika niobium project.

GBE said the approval is a “critical and formal step” in the application process which obligates the relevant government minister to formally approve the licence application with 45 days.

Following GBE’s 131% gain, the next-best performer was $3.5bn mid-cap software company Altium (ASX:ALU), which rose more than 30% after receiving a formal (unsolicited) takeover proposal from the NASDAQ-listed Autodesk Inc.

Altium said the offer followed on from strategic partnership discussions, and has rejected it on the basis it “significantly undervalues” the company.

Another larger tech company, data-management firm Hansen Technologies (ASX:HSN), also rose following a separate takeover offer from private equity firm Melbourne-based BGH Capital Pty Ltd.

Unlike the Altium deal, HSN said it intends to recommend the proposal, which values the company at $6.50 per share.
 

LOSERS

Here are the best performing ASX small cap stocks at 12pm Monday, June 7:

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

Wordpress Table Plugin

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