ASX investors had plenty to digest in morning trade. (Pic: Getty)
ASX Small Cap Lunch Wrap: Who’s taking the good with the bad today?
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Investors have been navigating some mixed messages this morning, with early gains tempered following another sharp COVID-19 spike in Victoria.
The state recorded 317 new cases — the highest daily record in Australia since the crisis began — as authorities in neighbouring NSW ramp up testing in efforts to trace and contain local outbreaks of their own.
That helped to put the brakes on yesterday’s momentum, although markets are also monitoring vaccine developments where researchers at Oxford University said they’ve made a breakthrough.
And US company Moderna said that after a promising Phase I trial for its COVID-19 vaccine, more strong test results would leave it on track to deliver at least 500m doses by 2021.
Amid all that, the clock is ticking for major governments, including the US and Australia, to decide on potential extensions to existing support measures for people left out of work by the crisis.
Shortly after midday AEST, both the ASX200 and the Small Ords Index had slipped slightly into the red for the session.
Stocks across the Asia Pacific were also lower, despite a rebound in China’s economy which reported GDP growth of 3.2 per cent in the June quarter.
SMALL CAP WINNERS
Here are the best performing ASX small cap stocks at 12pm Thursday July 16:
Swipe or scroll to reveal the full table. Click headings to sort.
| CODE | COMPANY | PRICE | CHANGE | MARKET CAP |
|---|---|---|---|---|
| GTG | Genetic Technologies Ltd | 0.011 | 109.09% | $37.6M |
| VMG | Vdm Group | 0.002 | 100.00% | $6.9M |
| 14D | 1414 Degrees | 0.165 | 89.66% | $15.0M |
| ADO | AnteoTech | 0.037 | 68.18% | $36.2M |
| BCK | Brockman Mining Ltd | 0.024 | 50.00% | $148.5M |
| CHK | Cohiba Minerals Ltd | 0.012 | 50.00% | $7.1M |
| NCR | Nucoal Resources | 0.01 | 42.86% | $5.4M |
| BSM | Bass Metals Ltd | 0.004 | 40.00% | $7.0M |
| TOE | Toro Energy | 0.013 | 35.00% | $27.5M |
| CLZ | Classic Minerals Ltd | 0.003 | 25.00% | $18.7M |
| TYX | Tyranna Resources | 0.005 | 25.00% | $4.5M |
| CL8 | Collaborate Corporation Ltd | 0.01 | 25.00% | $9.2M |
| RCE | Recce Pharmaceuticals | 1.445 | 26.20% | $165.1M |
| PPY | Papyrus Australia Ltd | 0.011 | 22.22% | $2.7M |
| CDY | Cellmid | 0.145 | 20.83% | $15.0M |
| THR | Thor Mining DRC | 0.006 | 20.00% | $6.4M |
| RNE | Renu Energy | 0.024 | 20.00% | $2.4M |
| WWI | West Wits Mining Ltd | 0.018 | 20.00% | $15.3M |
| ATP | Atlas Pearls | 0.006 | 20.00% | $2.1M |
| KOR | Korab Resources Ltd | 0.012 | 20.00% | $3.3M |
| AVW | Avira Energy | 0.006 | 20.00% | $6.9M |
| WEL | Winchester Energy Ltd | 0.025 | 19.05% | $14.5M |
Biotech stock Genetic Technologies (ASX:GTG) quickly doubled in morning trade before going into a trading halt at 10:30am AEST.
The move followed a news report on the NASDAQ overnight, where the dual-listed company also trades as GENE, that Genetic Technologies had filed a “provisional patent for its COVID-19 Severity Risk Test with the Patent Office in Australia”.
Also rising strongly on the back of some COVID-19 news was AnteoTech Ltd (ASX:ADO), which said it has established a proof of concept for a rapid-test solution that can determine whether a patient has the virus within 15 minutes.
SMALL CAP WINNERS
Here are the best performing ASX small cap stocks at 12pm Thursday July 16:
Swipe or scroll to reveal the full table. Click headings to sort.
| CODE | COMPANY | PRICE | CHANGE | MARKET CAP |
|---|---|---|---|---|
| BCT | Bluechiip Ltd | 0.032 | -43.86% | $19.0M |
| PNN | Pepinnini Minerals Ltd | 0.001 | -33.33% | $1.6M |
| CCE | Carnegie Clean Energy | 0.001 | -33.33% | $11.1M |
| CZL | Consolidated Zinc | 0.003 | -25.00% | $7.5M |
| VIC | Victory Mines | 0.002 | -25.00% | $3.6M |
| XTC | Xantippe Resources | 0.002 | -20.00% | $8.0M |
| RAG | Ragnar Metals | 0.006 | -14.29% | $1.9M |
| RBR | RBR Group | 0.006 | -14.29% | $5.3M |
| ARR | American Rare Earths | 0.021 | -12.50% | $6.1M |
| RLC | Reedy Lagoon | 0.007 | -12.50% | $2.8M |
| S66 | Star Combo Pharma | 0.39 | -12.36% | $52.9M |
| APV | AppsVillage Australia | 0.15 | -11.76% | $11.5M |
| LIO | Lion Energy | 0.015 | -11.76% | $3.1M |
| ASP | Aspermont | 0.008 | -11.11% | $18.2M |
| CGN | Crater Gold Mining Ltd | 0.008 | -11.11% | $9.8M |
| EMN | Euro Manganese | 0.07 | -10.26% | $16.4M |
| IVX | Invion Ltd | 0.009 | -10.00% | $55.0M |
| 88E | 88 Energy | 0.004 | -10.00% | $43.6M |
| NAG | Nagambie Mining Ltd | 0.045 | -10.00% | $25.0M |
Shares in Bluechiip (ASX:BCT) took a tumble after one of its key customers, Labcon North America, unexpectedly terminated its contract with the company.
Labcon had been a longterm customer of BCT, but the company told shareholders today it’s claiming damages of $US500,000 after negotiations failed and Labcon walked away from the deal.
