Local stocks have followed a quiet lead from the US on Friday night, with no major catalysts in morning trade.

NSW is still getting drenched, after the rain gauge on Saturday reached the rare setting of ‘house floating down the river’ levels of precipitation:

More than 18,000 people have been evacuated from their homes on the mid-north coast as flooding threats remain elevated.

Large cap insurers came under a bit of pressure as investors assessed the fallout from another round of wild Aussie weather.

But gains in most of the major banks help drag the ASX200 index higher, while the microcap Emerging Companies Index traded flat into midday trade.

On global markets, the big story was in currencies after the Turkish lira crashed following more upheaval at the Turkey central bank.

Turkish leader Recep Tayyip Erdogan sacked central bank chief Naci Agbal, who had been presiding over some big interest rate hikes to bolster the currency and tame inflation.
 

WINNERS

Here are the best performing ASX small cap stocks at 12pm Monday March 22:

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

Stocks highlighted in yellow have made market-moving announcements

Minnow oil and gas explorer Red Sky Energy (ROG:ASX) led the pack in percentage terms, after shares in the company ticked higher to 0.35c.

ROG announced some positive results from a petrophysical evaluation at Killanoola SE-1 — its prospective oil tenement in South Australia.

Director Andrew Knox said it was an “encouraging” result as the company moves towards its end goal of recommencing production at the site.

Large cap casino stock Crown Resorts (ASX:CWN) grabbed headlines after receiving a non-binding takeover offer from private equity giant Blackstone priced at $11.85 per share.

Medtech company Oneview Healthcare (ASX:ONE) has convened an extraordinary general meeting scheduled for April 15, where shareholders will vote on the terms of a proposed investment in the company by research group StocksDigital.

ONE shares have been on a torrid rally since the deal was announced, and the stock jumped again this morning to climb above 40c — up from February trading levels of around 7c.
 

LOSERS

Here are the worst performing ASX small cap stocks at 12pm Monday March 22:

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