Will Australia avoid a double-dip recession? Today’s GDP figures give some hope.

Despite the Australian economy being mostly open during the June quarter, there were fears GDP growth might still have dipped into negative territory.

However, the economy still managed a 0.7% during, which took annual growth to a hefty (record high) of 9.6%, although that figure was heavily impacted by base effects due to the Q2 economic downturn.

While it is certain that GDP for the September quarter, due in early December, will be negative, it is hoped the vaccination roll out and the end of lockdowns will help the economy return to growth in the December quarter.

Despite today’s GDP figures, the ASX still shed more than 0.5% today. All sectors retreated except energy which rose 0.71%.

 

ASX SMALL CAP WINNERS

Here are the best performing ASX small cap stocks for Wednesday September 1 [intraday]:

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Code Name Price % Change Volume
PAM Pan Asia Metals 0.51 55 25025133
ANL Amani Gold Ltd 0.0015 50 315477084
CLZ Classic Min Ltd 0.0015 50 11300000
PCL Pancontinental Oil 0.0015 50 447499
UUL Ultima Utd Ltd 0.6 43 157411
AUN Aurumin 0.235 42 3230226
ARO Astro Resources NL 0.005 25 2200000
AVW Avira Resources Ltd 0.005 25 12520860
BUD Buddy Tech 0.02 25 17177421
CCE Carnegie Cln Energy 0.0025 25 2451659
AWN AWN Holdings Limited 0.77 24 349504
BIR BIR Financial Ltd 0.037 23 1139791
MNB Minbos Resources Ltd 0.135 23 5145802
RAN Range International 0.011 22 3293650
HGO Hillgrove Res Ltd 0.06 18 3905930
KP2 Kore Potash PLC 0.02 18 16117993
VMY Vimy Resources Ltd 0.115 17 8930570
ADV Ardiden Ltd 0.014 17 11636762
XST Xstate Resources 0.0035 17 403023
FRB Firebird Metals 0.54 16 359359
OAR OAR Resources Ltd 0.015 15 25524038
WSR Westar Resources 0.195 15 39082
KNI Kunikolimited 3.11 14 8377385

Leading the charge was Pan Asia Metals (ASX:PAM) after yesterday’s announcement that it had lodged 5 prospecting applications over the geothermal lithium-rich ‘Kata Thong’ project in Thailand.

Gold explorer Aurumin (ASX:AUN) rose off the back of drilling results released today.

Copper explorer Hillgrove Resources (ASX:HGO) also rose with drilling results, making it 2 days in a row it has made its column.

AWN Holdings (ASX:AWN) climbed after releasing its financial results.

 

ASX SMALL CAP LOSERS

Here are the worst performing ASX small cap stocks for Wednesday September 1 [intraday]:

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Code Name Price % Change Volume
VPR Volt Power Group 0.002 -33 1095936
PAL Palla Pharma Ltd 0.27 -29 836856
MLS Metals Australia 0.0015 -25 873254
OEX Oilex Ltd 0.003 -25 200000
DTI DTI Group Ltd 0.018 -22 1553586
SIT Site Group Int Ltd 0.008 -20 798437
T3D 333D Limited 0.002 -20 345
NTL New Talisman Gold 0.0025 -17 275000
PNC Pioneer Credit Ltd 0.47 -15 465772
AOA Ausmon Resorces 0.006 -14 255869
HNR Hannans Ltd 0.006 -14 1230000
RZI Raiz Invest Limited 1.74 -12 893535
SRN Surefire Rescs NL 0.015 -12 21799391
AUK Aumake Limited 0.023 -12 1677799
WFL Wellfully Limited 0.093 -11 4118428
HVM Happy Valley 0.12 -11 125383
TER Terracom Ltd 0.16 -11 2618975
AD1 AD1 Holdings Limited 0.036 -10 327427
OEL Otto Energy Limited 0.009 -10 2351755
EMU EMU NL 0.027 -10 26134
WNR Wingara Ag Ltd 0.11 -10 12408
AUH Austchina Holdings 0.005 -9 7066
GED Golden Deeps 0.01 -9 405431

Palla Pharma (ASX:PAL) meanwhile fell after getting a 1 month extension to submit its financial reports.