ASX Small Cap Lunch Wrap: Who’s sneaking around where they shouldn’t be today?

A chicken has been caught sneaking around the Pentagon in the US.

The hen was found near the the U.S. Department of Defense headquarters before being taken into custody by the Animal Welfare League of Arlington, Virginia.

“We are not allowed to disclose exactly where she was found,” League spokesperson Chelsea Jones said.“We can only say it was at a security checkpoint.”

Even Jimmy Fallon caught wind of the news, penning a song to the hen – now named Henny Penny – questioning whether she’s a “normal clucker or an undercover spy.”

Jones said Henny Penny is being adopted by a staff member who has a small farm in western Virginia.

And the league has even released merchandise in her honour – with proceeds going to keeping wayward poultry out of Government buildings.

To Markets …

Despite a rough session on Wall Street, the ASX 200 edged higher this morning before falling into the red through midday trade.

European stocks slumped after the European Central Bank held interest rates, but left the door open to a rise later this year.

“It is clear that some policymakers are now very worried about inflation getting out of control, but while the bank is only supposed to worry about inflation and not the impact of rate hikes on the consumer, it will have to consider the risks of stalling economic growth with its tighter monetary policy,” IG Group chief market analyst Chris Beauchamp says.

Major US stock indexes tumbled on yesterday, dragged down by technology and social-media companies, as Facebook owner Meta Platforms plunged after a disappointing earnings report.

The tumble erased recent gains in the Nasdaq, and threatened to resume a selloff that battered US stocks during the first few weeks of the year.

Money managers are pivoting toward sectors including energy and banking they say stand to benefit from the economic recovery and higher borrowing costs.

“Investors are going in a short space of time from almost a perfect environment for risk assets to a more normal environment,” said Nicholas Brooks, head of economic and investment research at Intermediate Capital Group.

“Companies that benefited most from that dramatic easing in monetary policy would be more vulnerable to large selloffs if there are any disappointment in their earnings.”

ASX SMALL CAP WINNERS

Here are the best performing ASX small cap stocks for February 4 [intraday]:

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

The biggest small cap winner today was Carnaby Resources (ASX:CNB), closely followed by JV partner Discovex Resources (ASX:DCX) after announcing a “major discovery confirmed!” at the ‘Nil Desperandum’ prospect, part of the ‘Greater Duchess’ copper-gold project in Queensland.

RC drill hole NLRC066 intersected a strong 50m down hole zone of copper sulphide mineralisation from 250m to bottom of hole (BOH) containing up to 30% chalcopyrite based on visual estimates – with results pending.

Carnaby MD Rob Watkins says that the visual intercepts confirm that that the high-grade copper gold mineralisation intersected in NLDD044 last year and now in NLRC066 are over exceptional true widths.

“This gives us great confidence in the plunge extension potential of the high-grade Nil Desperandum breccia shoot,” he said.

The company plans to extend drill hole NLR066 with a diamond drill trial.

Also up today was 3D Oil (ASX:TDO) who have been awarded VIC/P79 exploration permit containing the Vanguard gas prospect in the offshore Otway Basin – adjacent to the producing Geographe gas field.

The company says the Vanguard prospect has a best estimate prospective resource of 161 Bcf (in-permit).

ASX SMALL CAP LOSERS