ASX Small Cap Lunch Wrap: Who’s taking advertising to a whole new level today?
Advertising campaigns get into your brain with their catchy jingles or amazing looking products to tantalise your tastebuds – but McDonald’s in the UK has taken their marketing to a whole new level.
The fast-food giant popped a McCrispy advert on a bus stop in Cornwall without realising it was opposite to the local crematorium.
— New York Post (@nypost) February 11, 2023
A tasteless advert or a hilarious coincidence? Locals are divided, but a McDonald’s spokesperson told CornwallLive they were unaware of the road sign in the vicinity of the bus stop – and that it would be removed.
OR WERE THEY? Anyone else feel hungry?
The ASX 200 is trading down 0.19% at lunch today, and only two out of 11 sectors are in the green.
Leading the sector laggards was Consumer Discretionary, down 1.09%.
European stocks fell Friday as the prospect of higher-for-longer interest rates weighed on investor sentiment and markets absorbed the notion that rates may stay higher for longer.
Although European markets had a good start to the year, “it looks time to hand back some of those gains as economic pessimism rises again,” IG analyst Chris Beauchamp said.
In the US, all three indices finished January higher, mostly because investors had expected the Fed to end its campaign to raise interest rates and, eventually, lower them.
But last week they all finished lower for the first time since December, signalling investor doubts that the Fed can reduce inflation without slowing down the economy.
“Sentiment has soured a bit,” Invesco multi-asset fund manager Sebastian Mackay said.
“The market was confident that we would be looking at interest rate cuts later this year, but the strong jobs data has thrown a spanner in the works.”
Investors will soon receive more information about the health of the consumer and the direction of interest rates with the US releasing consumer-price data for January on Wednesday.
“The market is nervous about confirmation from the CPI report that more work needs to be done before the Fed can ease off the gas pedal,” Global Investments portfolio manager Keith Buchanan said.
Here are the best performing ASX small cap stocks for February 13 [intraday]:
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Metalicity (ASX:MCT) has been granted permit EPM 28653, expanding the potential exploration area for copper/cobalt mineralisation at its Mt Surprise Project in North Queensland.
Recent fieldwork at Mt Surprise has identified a significant copper trend with high grade rock chip samples of up to 11.65% copper and 66.39g/t silver, combined with anomalous cobalt mineralisation on assays of up to 650ppm.
“With assay results from over 300 ultrafine soil samples due shortly and the wet season coming to an end in the coming weeks, this is a very timely and exciting development,” MD Justin Barton said.
The company plans to focus initial fieldwork on the potential strike between recent fieldwork activities and historical copper recordings from the Geological Survey of Queensland along strike.
PNX Metals (ASX:PNX) has identified multiple high grade gold targets at its Burnside project in the NT, with rock chip sampling returning grades up to ~12g/t.
Multiple targets, with the potential to host economically significant gold mineralisation, have been identified within prospective kilometre-scale gold corridors and the plan is to test these after the NT wet season with the aim of delineating additional ‘standalone’ gold deposits that can be processed through the company’s proposed Fountain Head Plant.
And Reach Resources (ASX:RR1) has picked up four tenements prospective for lithium, rare earth element (REE) and manganese mineralisation in WA.
Notably, the lithium tenement Morrissey Hill project has widespread outcropping pegmatites, and is directly adjoining, and contains the same geology as, Red Dirt Metals’ (ASX: RDT) Yinnetharra Lithium Project.