ASX Small Cap Lunch Wrap: Who’s takin’ it easy today?

It’s been a fairly mild Thursday on Asia-Pacific markets so far, with no major catalysts into midday trade.

The ASX200 is trading flat, while the Small Ords Index is down by around 0.6 per cent. US stock futures are also flat.

Overnight, US Fed chair Jerome Powell reiterated the message that rock-bottom rates are here to stay for a while, with the US economy still a long way from full employment.

Powell also maintains the view of central bankers globally that inflation will remain subdued as the economy recovers.

While broader markets are relatively sanguine, there was still the usual round of thrills and spills among ASX small caps as a number of stocks jumped (and fell) on market-moving announcements.
 

WINNERS

Here are the best performing ASX small cap stocks at 12pm Thursday February 11:

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

There was some exciting biotech news as BARD1 Life Sciences (ASX:BD1) flagged a promising study for the ability of its SubB2M technology in the detection of ovarian cancer.

BD1 said a research collaboration between Griffith University and the University of Adelaide engineered “exquisite specificity” for SubB2M to bind to a sugar molecule called Neu5Gcm which is present on a range of cancers.

Preliminary results show SubB2M has “proven its ability to detect Neu5Gc in the bloodstream of cancer patients”, BD1 said, underpinning the company’s decision to licence the technology.

Industrial distribution company Stealth Global (ASX:SGI) was also on the winner’s list, as investors responded to a turnaround story in the company’s half-year trading update.

SGI said it booked sales of $30.4 million in the December half, which was down slightly on the prior year period but seven per cent higher than the June half, as the company dialled back its Africa operations to focus on more profitable distribution channels.

There were also another round of strong gains in resources. Reuben Adams has the wrap here.
 

LOSERS

Here are the worst performing ASX small cap stocks at 12pm Thursday February 11:

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

Among stocks with announcements, Vita Group (ASX:VTG) led the falls after announcing that Telstra has decided to transition its retail store network to a full corporate ownership model.

That means VTG’s current dealer agreement won’t be renewed when it expires in 2025. CEO Maxine Horne said VTG has been preparing strategically for a range of outcomes, including an investment in a “very attractive category of skin health and wellness for some time, thus creating a new growth opportunity for the group”.