After a rough start to September, ASX stocks are back to their winning ways with steady gains across the board in morning trade today.

The momentum followed a good day on Wall Street, where the S&P500 posted its best intra-day result since July 6.

The broader rally offset (rare) falls in some big tech names, including Tesla which closed almost 6 per cent lower.

Sentiment was underpinned by indications of additional stimulus from governments and central banks, with US lawmakers reportedly meeting to discuss an extension to the payment program for out-of-work Americans.

In addition, the latest CPI data out of Europe showed the Eurozone has fallen into deflation, with some analysts now flagging the prospect of additional stimulus from the European Central Bank.

(Did someone say ‘central bank stimulus’? Any excuse to tee up this legendary gif:)

Elsewhere, oil futures fell to one-month lows on the back of the disruption from Hurricane Laura in the US Gulf of Mexico. Investors also reacted to a renewed bout of strength in the embattled US dollar.

US dollar gold fell more than 1 per cent while the Australian dollar fell back from recent highs above US74c to around US73.3c.

 

WINNERS

Here are the best performing ASX small cap stocks at 12pm Thursday September 3:

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CODE COMPANY PRICE CHANGE MARKET CAP
OPL Opyl Ltd 0.23 76.92% $7.0M
OEQ Orion Equities Ltd/fund 0.09 61.82% $980K
KAS Kasbah Resources Ltd 0.021 61.54% $2.8M
ANW Aus Tin Mining Ltd 0.0015 50.00% $3.2M
QFY Quantify Technology Holdings 0.0015 50.00% $2.0M
UUV UUV Aquabotix Ltd 0.0015 50.00% $3.6M
VMG VDM Group Ltd 0.003 50.00% $13.9M
SAN Sagalio Energy Ltd 0.004 33.33% $818K
SRN Surefire Resources NL 0.012 30.00% $7.5M
ANA Ansila Energy NL 0.036 28.57% $18.3M
ADV Ardiden Ltd 0.024 26.32% $49.9M
YOJ Yojee Ltd 0.23 25.00% $217.1M
CV1 CV Check Ltd 0.12 25.00% $33.6M
CLZ Classic Minerals Ltd 0.0025 25.00% $26.1M
CZN Corazon Mining Ltd 0.0025 25.00% $6.5M
DHR Dark Horse Resources Ltd 0.0025 25.00% $8.1M
SHE Stonehorse Energy Ltd 0.01 25.00% $4.0M
OSL OncoSil Medical Ltd 0.14 21.74% $111.9M
SHK Stone Resources Australia Ltd 0.03 21.43% $28.4M
TCN Techniche Ltd 0.05 21.05% $9.7M

 

Gains were led by AI company Opyl (ASX:OPL), which ripped higher before going into a trading halt pending a further announcement.

The company said it had completed a proof-of-concept trial that it applied to a range of therapies and vaccines targeting COVID-19.

Opyl said the results indicated it had “developed a software that uses artificial intelligence to make a probability of success prediction on the likelihood of a vaccine, drug, diagnostic or medical device succeeding in clinical trials”.

Shares in OPL briefly doubled before easing back slightly then going into a halt.

Orion Equities (ASX:OEQ) and Kasbah Resources (ASX:KAS) also rose strongly on no news, while online verification company CV Check (ASX:CV1) hopped aboard the BNPL train, jumping higher after announcing it had won three ASX BNPL clients — Afterpay (ASX:APT), Openpay (ASX:OPY) and Zip Co (ASX:Z1P).

 

LOSERS

Here are the worst performing ASX small cap stocks at 12pm Thursday September 3:

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CODE COMPANY PRICE CHANGE MARKET CAP
XPE XPED 0.001 -50.00% $1.8M
TGO Trimantium Growthops 0.06 -25.00% $12.2M
CFO Cfoam 0.022 -24.14% $5.6M
CGB Cann Global 0.004 -20.00% $20.1M
PWN Parkway Minerals 0.006 -18.75% $13.7M
Z1P Zip Co 6.67 -16.52% $3.2B
TGN Tungsten Mining 0.125 -16.67% $115.6M
RLC Reedy Lagoon 0.011 -15.38% $6.1M
SBR Sabre Resources 0.006 -14.29% $8.8M
WWG Wiseway 0.125 -13.79% $20.4M
KPE Kina Petroleum 0.91 -13.33% $13.5M
SZL Sezzle 7.59 -13.36% $1.7B
CNJ Conico 0.014 -12.50% $7.1M
XTC Xantippe Resources 0.004 -12.50% $16.3M
SHK Stone Resources Australia 0.021 -12.50% $20.1M
OPY Openpay 3.52 -12.22% $432.6M
TIP Teaminvest Private Group 0.69 -12.10% $87.3M