ASX Small Cap Lunch Wrap: Who’s taking oil to the extreme today?

Oil markets have been running hot lately.

And Saudi Arabia, the world’s biggest oil producer, is having some fun.

Plans have emerged which show the kingdom is planning to convert an offshore oil rig into an offshore fun park, equipped with hotels, restaurants and rollercoasters.

The proposal forms part of the government’s strategy to try to modernise aspects of the Saudi economy, and open the country up for more tourism.

On markets, things are looking good during Wednesday trade as the ASX 200 climbed back to a five-week high in the morning session.

Another round of solid earnings results helped sentiment, while the big miners were back in favour with steady gains in almost every other sector.

Oil & gas stocks — standout performers over the last month — were the only ones to take a little breather as the ASX 200 Energy index traded flat.

On US markets overnight, key news flow was led by the launch of the first Bitcoin Futures ETF which did around US$1bn in volumes on its first day — easily the biggest ETF debut in history by ‘natural’ volume (i.e. no big cornerstone investors).
 

ASX SMALL CAP WINNERS

Here are the best performing ASX small cap stocks for October 20 [intraday]:

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

Stocks highlighted in yellow made market-sensitive announcements
WordPress Table

Among stocks with news, Polymetals Resources (ASX:POL) led the pack after updating the market with assay results from a 96-hole drill program at its Alahiné gold project in Guinea, West Africa.

A bunch of other small cap resources plays posted solid gains. Get the full update here.

Elsewhere, there was a strong health thematic on the winner’s list this morning, led by cervical cancer screening device company Truscreen (ASX:TRU).

The company announced that its Trusceen device is now equipped with an improved cyber security upgrade, while flagging expanded distribution opportunities in China — TRU’s “most established market and the world’s largest addressable cervical cancer market”, the company said.

Outside of resources and health, fintech company Credit Intelligence (ASX:CI1) was among the market leaders, after announcing the Australian launch of its ChapterTwo debt management app.

CI1 said the app is the first of its kind in Australia, which gives users the opportunity to “list all their debts in once place, see their repayment history and make one monthly repayment managed by ChaperTwo”.

Leading all stocks was sub-$4m nanocap WooBoard Technologies (ASX:WOO), which often jumps around in percentage terms on no news and today ticked higher by 100% to 0.2c into midday trade.
 

ASX SMALL CAP LOSERS

Here are the worst performing ASX small cap stocks for October 20 [intraday]:

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

Stocks highlighted in yellow made market-sensitive announcements
WordPress Table