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.