ASX Small Cap Lunch Wrap: Who’s watching out for some dark clouds today?
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Following a record equities rally in the June quarter, this week has so far brought a steady flow of bad news to digest across health, geo-politics and the economy.
On the domestic front, the now locked-down state of Victoria recorded another 134 positive COVID-19 cases overnight, with authorities now on high alert for a delayed outbreak in NSW.
That followed a glum session for US stocks, which fell more than one per cent as policy makers on both sides of the Atlantic flagged the prospect of a deeper 2020 recession.
Then again, as was noted by IG’s chief market analyst Chris Beauchamp, a sharper decline “does at least set the bar relatively low, and allows for the possibility of beating expectations if things go better than forecast”.
And in a possible sign that bad news is actually good news, central bankers — both RBA governor Phil Lowe and Richard Clarida from the US Fed — said they stand ready to implement more stimulus measures if the situation requires.
Amid all that the ASX treaded water in morning trade, before losing momentum into the midday break. Shortly after 12pm AEST both the ASX200 and the Small Ords Index were down by around 0.4 per cent on the session.
Here are the best performing ASX small cap stocks at 12pm Wednesday July 8:
Swipe or scroll to reveal the full table. Click headings to sort.
CODE | COMPANY | PRICE | CHANGE | MARKET CAP |
---|---|---|---|---|
IEC | Intra Energy Corporation | 0.008 | 100.00% | $1.9M |
QFY | Quantify Tech | 0.002 | 100.00% | $4.0M |
ADD | Adavale Resources Ltd | 0.022 | 83.33% | $3.9M |
AMD | Arrow Minerals | 0.013 | 62.50% | $15.6M |
PNN | Pepinnini Minerals Ltd | 0.0015 | 50.00% | $1.6M |
CYM | Cyprium Metals | 0.18 | 33.33% | $7.6M |
S2R | S2 Resources Ltd | 0.145 | 38.10% | $34.7M |
WML | Woomera Mining | 0.022 | 37.50% | $3.1M |
VLT | Vault Intelligence | 0.46 | 35.29% | $43.5M |
MLS | Metals Australia | 0.002 | 100.00% | $6.4M |
MAY | Melbana Energy | 0.009 | 28.57% | $18.5M |
DRE | Dreadnought Resources | 0.009 | 28.57% | $13.2M |
RLC | Reedy Lagoon | 0.005 | 25.00% | $1.6M |
XTC | Xantippe Resources | 0.003 | 25.00% | $8.0M |
FTT | Factor Therapeutics | 0.005 | 25.00% | $5.2M |
LCL | Los Cerros | 0.051 | 21.43% | $11.7M |
CBE | Cobre | 0.21 | 20.00% | $18.0M |
SCL | Schrole | 0.019 | 18.75% | $17.5M |
POD | Podium Minerals | 0.032 | 18.52% | $5.2M |
14D | 1414 Degrees | 0.09 | 16.88% | $13.3M |
Another round of gold explorers led the pack this morning, including Arrow Minerals (ASX:AMD), which jumped more than 60 per cent after hitting some high-grade intersections (like 13m at 3.8 grams per tonne) at its Dassa project — a 3km-long gold discovery in Burkina Faso.
Minnow explorer Adavale Resources (ASX:ADD), which has a market cap of $2m, also ripped higher on seemingly little news. Although the company did announced after markets closed yesterday that Alan Armstrong has resigned from the board, to be replaced by George Karantzias in a non-executive director role.
Here are the worst performing ASX small cap stocks at 12pm Wednesday July 8:
Swipe or scroll to reveal the full table. Click headings to sort.
CODE | COMPANY | PRICE | CHANGE | MARKET CAP |
---|---|---|---|---|
RFN | Reffind Ltd | 0.001 | -33.33% | $1.0M |
ROG | Red Sky Energy | 0.001 | -33.33% | $2.5M |
CBR | Carbon Revolution | 1.36 | -32.00% | $205.7M |
SI6 | Simble Solutions | 0.02 | -20.00% | $4.5M |
AVW | Avira Energy | 0.004 | -20.00% | $6.9M |
NWE | Norwest Energy NL | 0.003 | -14.29% | $14.2M |
1AL | OneAll International Ltd | 0.25 | -13.79% | $32.5M |
HIP | Hipo Resources | 0.02 | -13.04% | $8.9M |
SI6 | Six Sigma Metals | 0.007 | -12.50% | $4.5M |
MTH | Mithril Resources | 0.023 | -11.54% | $40.0M |
CNW | Cirrus Networks Holdings | 0.025 | -10.71% | $22.1M |
DVL | dorsaVi Ltd | 0.026 | -10.34% | $6.7M |
DRX | Diatreme Resources Ltd | 0.009 | -10.00% | $16.7M |
SLZ | Sultan Resources | 0.18 | -10.00% | $11.7M |
QFE | Quickfee | 0.735 | -10.37% | $142.1M |
CCA | Change Financial | 0.095 | -9.52% | $27.8M |
AMT | Allegra Orthopaedics | 0.29 | -9.38% | $33.4M |
MRQ | MRG Metals Ltd | 0.01 | -9.09% | $12.3M |