ASX Small Cap Lunch Wrap: Who’s shrugging off the chaos today?

Mass protests against policy brutality across the US continue to dominate the headlines, while the lingering threat of COVID-19 remains ever-present.

But so far this week, the message from stock markets is that it’s going to take more than that to alter the consensus view of future earnings.

On the economic front, Australia’s Q1 GDP figures showed the economy contracted by 0.3 per cent to the end of March, setting the country up for its first recession in 29 years once the June quarter figures are released.

And the Aussie dollar is rocketing higher, trading above US69c this morning — a gain of around 25 per cent from its crisis lows of ~US55c.

In markets, the big end of town led the way following another strong lead from US stocks. The ASX200 was almost 1 per cent higher just after midday EST, while the Small Ords was treading water with a gain of 0.2 per cent.

 

SMALL CAP WINNERS

Here are the best performing ASX small cap stocks at 12pm on Wednesday June 3:

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

WordPress Table
Copper-gold explorer Alderan Resources (ASX:AL8) led the pack, as markets showed some excitement at the company’s plan to complete its exploration efforts in Utah, USA.

To do that, the company said it will raise around $2.1m from sophisticated investors, via a combination of debt and an equity component, which will be comprised of a $900,000 raise at 5c per share.

That’s a slight discount from the company’s previous closing price of 6c, but well below this morning’s trading price after the stocked ripped higher by as much as 80 per cent.

 

SMALL CAP LOSERS

Here are the worst performing ASX small cap stocks at 12pm on Wednesday June 3:

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

WordPress Table