ASX Small Cap Lunch Wrap: Who’s on pace for their best week since November?
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Small caps have made back nearly all of yesterday’s losses and are outperforming their larger rivals.
Shortly after noon on Friday the Small Ordinaries was up 0.93 per cent, or 29.3 points, to 3,187.2, following Thursday’s 33-point drop – its only loss this week.
If the gains hold, the index of 200 small-cap names would finish the week up 3.5 per cent for its best week since the first week of November, when it climbed 5.2 per cent.
The ASX200 is up 54.9 points, or 0.81 per cent, while the Emerging Companies nano-cap index has climbed 0.72 per cent.
The positive sentiment followed gains on Wall Street overnight, with the S&P500 and NASDAQ all setting record highs after better-than-expected corporate earnings from eBay and PayPal, and fewer than expected first-time jobless claims.
Every sector was up on the ASX at lunchtime save mining and utilities, which were both down modestly. The tech, telecom, consumer discretionary and industrial sectors were all up the most, around 1.6.
Afterpay (ASX:APT) was up 2.5 per cent to $149.91 after Bell Potter raised its price target on the buy now, pay later giant to $168.50 – the most bullish out there.
News Corp (ASX:NWS) climbed 12.6 per cent to $28.26 after reporting its most profitable quarter since 2013.
Here are the best performing ASX stocks at Friday morning, February 5:
Swipe or scroll to reveal the full table. Click headings to sort. Stocks highlighted in yellow have made announcements.
Anax Metals (ASX:ANX) shares have doubled to 9.3c after reporting “outstanding” drill results at its copper-zinc project in the West Pilbara.
Actinogen Medical (ASX:ACW) has soared 28.6 per cent to 2.7c after the US Food and Drug Administration granted the company a rare pediatric disease designation for the treatment of Fragile X syndrome.
Vonex (ASX:VN8) is up 25.6 per cent to 32c after the telecommunications company signed a wholesale agreement to provide business-grade mobile broadband services to Orange Business Services throughout Australia.
icetana (ASX:ICE) is up 19.2 per cent to 15.5c after the video surveillance software company received an order worth about $536,000 to provide its services to a resort in Singapore.