Local markets have fallen today with the benchmark S&P ASX 200 index down 0.54% at 1pm (AEST), ahead of RBA boss Philip Lowe’s last rates decision at 2.30pm AEST.

So as we await Lowe and his mates’ decision as to whether interest rates will hike, many Australians, like much of the world, are feeling cost of living pressures, including the rising cost of transport.

But if you live in Austria, you could get free transport for a year… but there’s a catch. You’ll have to get a tattoo and it’s not one of a pretty heart, flower, your true love or kids’ names. It’ll be the local travel pass – Kilma Ticket.

Yes, that’s right, you have to ink Kilma Ticket, the name of Austria’s ecofriendly public transport pass, on your body.  And if you’re going to show your pass every time you get on public transport I suggest it should be somewhere family friendly.

Austria first introduced the Kilma Ticket in 2021 as a promotion for public transport as the “climate-friendly alternative to motorised individual transport.”

But the tattoo promotion has had mixed reaction. Austria’s climate Minister Leonore Gewessler has come under fire for promoting the deal at a local festival and sporting a fake tattoo which read “Gewessler takes the lead”.

MP for Austria’s liberal NEOS party Henrike Brandstötter  says “offering people money for putting advertising under their skin reveals an unacceptable view of humanity from a government minister”.

 

TO MARKETS

At lunchtime eight of the 11 sectors are in the red today. Healthcare was leading the winners up 0.33% with the sector’s biggest stock CSL (ASX:CSL) up 0.6% and falls across the sector minimal. The materials sector was the biggest laggard, down 1.22%.

Qantas (ASX:QAN) shares have been struggling for direction today after news embattled CEO Alan Joyce was leaving his post early.

In early trade QAN shares were up 1.2% before dipping 0.5% below their opening price and at 12.50pm were up 0.27%.

Joyce had originally planned to retire from the airline in November, but due to recent allegations involving illegal ticket sales and claims of undue influence over the government,  it looks like he has decided to hasten his departure.

Incoming CEO Vanessa Hudson is set to assume leadership tomorrow.

Source: Market Index

 

NOT THE ASX

The US and Canada markets closed for Labor Day overnight. In Europe, stocks closed fairly flat as optimism that China’s stimulus measures could prop up its ailing economy started to fade.

Danish drugmaker Novo Nordisk rose to an all-time high after launching its weight-loss injection Wegovy in Britain. And Mercedes Benz added 1% after unveiling a new, longer-range electric vehicle.

Europe’s tech sector also gained, with Dutch semiconductor equipment maker ASML up by 0.3%.

Asian markets are also down today with China markets leading the laggards. The Hang Seng is down 1.3%,  followed by the Shanghai down 0.52% and Shenzhen down 0.39%.

In August, the Caixin China services purchasing managers’ index (PMI) took a little tumble, dropping from 54.1 in July to 51.8, as reported by Caixin Media Co and S&P Global.

However, don’t hit the panic button just yet.  Despite this dip, the PMI held strong above the 50-point threshold, marking the eighth consecutive month of activity expansion rather than contraction.

 

ASX SMALL CAP WINNERS

Here are the best performing ASX small cap stocks for 04 September [intraday]:

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

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Topping the winners chart at lunchtime is Torque Metals (ASX:TOR)  which has announced it has inked a deal to acquire a collection of gold, nickel and lithium-rich tenements — to be renamed Penzance — near its Paris gold camp in the Tier-1 Goldfields mining jurisdiction of WA.

This includes New Dawn, an unmined lithium and tantalum occurrence on granted mining leases, 600m along strike of the established Bald Hill lithium-tantalum operation.

Also on the winners list is gold explorer Southern Cross Gold (ASX:SXG) which has announced the best hole drilled to date at its 100%-owned Sunday Creek project in Victoria including a wide and high grade intersection of gold-antimony mineralisation.

SXG says SDDSC077B drilled at the Rising Sun Prospect intersected 404.4m @ 5.6g/t AuEq (5.1g/t Au, 0.3 %Sb) from 374.0m (uncut), and traverses 13 individual high grade vein sets.

Furthermore, seven intervals have>100g/t Au (up to 2,670g/t Au), 20 intervals have >15g/t Au and 20 intervals have >5% Sb (up to 55.8% Sb).

Yes, you read that right – up to 2,670g/t.

 

ASX SMALL CAP LOSERS

Here are the most-worst performing ASX small cap stocks for 04 Septemeber [intraday]:

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

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Cybersecurity and drone stock Mobilicom (ASX:MOB) is down today after announcing it’s delisting from the ASX to be exclusively listed on the NASDAQ.

MOB says its business and operations are primarily focused in the US and Israel and the move will reduce ASX related administrative expenses.

MOB says concentrating shares under a single market will also support larger share volume on the NASDAQ.

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