Local stocks have posted solid gains in Wednesday trade, following all-important US CPI data overnight.

But first, a quick detour to the corridors of power in Brazil, where the government of President Jair Bolsanaro has come under scrutiny for some unusual defence spending.

Public funds were used to acquire more than 30,000 Viagra pills, for distribution in the Army and Navy.

The official line was that the drug also acts as an effective treatment of pulmonary hypertension (a form of high blood pressure), but other lawmakers weren’t convinced.

From Carnival to co-ordinated military operations, it looks like there’s always a party going on in Brazil…

Back to the nerdy stuff, where ahead of last night’s CPI data the US government took the unusual step of flagging ahead of time that annual headline inflation was going to come in hot.

And it did, at an annualised rate of 8.5%.

However, the monthly print for core inflation slowed to 0.3% — the lowest monthly gain since September.

That was still high enough for an annualised core print of 6.5%, but some analysts have flagged that y/y inflation may slow once higher base effects are accounted for in the second half of this year.

Speaking of headline inflation, oil prices (not included in core inflation) ripped higher again overnight on a stronger demand outlook.

That’s spelt good news for ASX energy stocks this morning, which are leading the pack in a steady session with no major moves (up or down) across any sector.

ASX SMALL CAP WINNERS

Here are the best performing ASX small cap stocks for April 13 [intraday]:

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Code Company Price % Market Cap
ANL Amani Gold Ltd 0.002 100.0% $23,293,441
OSL Oncosil Medical 0.069 64.3% $33,278,418
ANW Aus Tin Mining 0.0015 50.0% $13,766,787
FTL Firetail Resources 0.325 30.0% $15,445,625
SCN Scorpion Minerals 0.087 29.9% $18,056,915
CZR CZR Resources Ltd 0.011 29.4% $29,633,748
FLX Felix Group 0.3 25.0% $26,179,385
GTG Genetic Technologies 0.005 25.0% $36,935,861
OEX Oilex Ltd 0.005 25.0% $28,671,163
NIM Nimyresourceslimited 0.48 23.1% $18,284,505
EMS Eastern Metals 0.23 21.1% $6,764,000
BCA Black Canyon Limited 0.435 19.2% $12,632,833
BMN Bannerman Energy Ltd 0.325 18.2% $390,362,828
VAN Vango Mining Ltd 0.046 17.9% $49,137,568
IS3 I Synergy Group Ltd 0.094 17.5% $21,476,914
XST Xstate Resources 0.0035 16.7% $9,645,545
IG6 Internationalgraphit 0.38 15.2% $26,891,076
AUA Audeara 0.115 15.0% $6,419,932
RR1 Reach Resources Ltd 0.008 14.3% $13,370,354
ANX Anax Metals Ltd 0.12 14.3% $42,044,957
AGR Aguia Res Ltd 0.065 14.0% $22,509,134
SLM Solismineralsltd 0.245 14.0% $7,855,034
DOU Douugh Limited 0.033 13.8% $17,190,929
ESK Etherstack PLC 0.42 13.5% $48,366,216
92E 92Energy 0.825 13.0% $51,373,640
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While there was the usual round of resources highlights on today’s winner’s list, it was a biotech stock that led the pack on Wednesday as Oncosil (ASX:OSL) ripped higher by more than 50%.

The company has a functioning, regulatory approved device used in the treatment of pancreatic cancer.

And now it’s officially gone live in-market, with the first procedure performed at The Hospital Universitario de Fuenlabrada in Madrid, Spain.

Stockhead’s Eddy Sunarto has more here.

Elsewhere, junior explorer Scorpion Minerals (ASX:SCN) found strong demand after raised $3.18m in an oversubscribed placement to fund its lithium and base metals exploration projects in WA.

The funds will be used to support drilling and geophysics programs, after a recent technical review “highlighted strong lithium potential with 50km zone of pegmatite intrusion within the Pharos Project in WA”, the company said.

ASX SMALL CAP LOSERS

Here are the worst performing ASX small cap stocks for April 13 [intraday]:

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Code Company Price % Market Cap
MSI Multistack Internat. 0.028 -24.3% $5,043,245
MEB Medibio Limited 0.004 -20.0% $11,984,951
VPR Volt Power Group 0.002 -20.0% $23,361,334
BTC BTC Health Ltd 0.062 -17.3% $21,138,477
BDX Bcaldiagnostics 0.105 -16.0% $16,446,508
BSA BSA Limited 0.105 -16.0% $54,529,434
REC Rechargemetals 0.385 -14.4% $14,662,125
KFE Kogi Iron Ltd 0.006 -14.3% $10,553,919
ADX ADX Energy Ltd 0.007 -12.5% $24,271,047
BMO Bastion Minerals 0.15 -11.8% $12,907,974
TVL Touch Ventures 0.16 -11.1% $128,406,576
CLE Cyclone Metals 0.004 -11.1% $25,624,066
TMX Terrain Minerals 0.009 -10.0% $7,357,610
PUR Pursuit Minerals 0.028 -9.7% $29,312,025
DCG Decmil Group Limited 0.1 -9.1% $17,064,658
ABV Adv Braking Tech Ltd 0.03 -9.1% $12,511,909
KTA Krakatoa Resources 0.105 -8.7% $33,891,640
MCM Mc Mining Ltd 0.105 -8.7% $22,170,098
MTH Mithril Resources 0.0105 -8.7% $29,672,680
JGH Jade Gas Holdings 0.055 -8.3% $31,872,902
LNY Laneway Res Ltd 0.0055 -8.3% $33,614,712
KLI Killiresources 0.355 -7.8% $12,705,000
CTQ Careteq Limited 0.12 -7.7% $14,789,732
AFP Aft Pharmaceuticals 3.185 -7.7% $361,205,547
GTI Gratifii 0.025 -7.4% $16,987,112
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