US oil prices turned negative overnight, with oil due to be delivered in May considered pretty much worthless. Quality memes abound.

 

https://bit.ly/2XTfc7U

 

https://bit.ly/2XSvv4A

 

>>Scroll down for today’s best/worst performing small caps>>>

But oil to be delivered in June was priced around $US21 ($33.20), which – while still low – is seen by many as a more reliable view of traders’ outlook for oil.

READ: Can the ASX’s American frackers survive sub-$US20 oil?

European share markets were down yesterday as oil prices plunged, and yet finished the day higher, driven by healthcare stocks. Drug maker Novartis was up 2 per cent after scoring US regulatory approval to trial malaria drug hydroxychloroquine against COVID-19.

US share markets fell on Monday on oil prices and as “investors turned cautious over what is expected to be a disappointing week for earnings and economic data”, Commsec says.

While airline stocks globally get hammered (Rest in pieces, Virgin (ASX:VAH)), so-called “stay-at-home” stocks like Amazon (+0.8 per cent), Netflix (+3.4 per cent) and Roku (+2.6 per cent) all climbed.

Metals are looking ok right now. Yesterday, nickel and iron ore rose by 3.9 per cent and ~1 per cent respectively as the Chinese stainless-steel market shows signs of recovery and major producer Vale cuts production targets for 2020.

The gold futures price also rose by 0.7 per cent to $US1701.60 (~$2,690/oz).

Today, RBA Governor Philip Lowe delivers an economic and financial update. Any comment on the impact to Australia’s economy from COVID-19 will be eagerly awaited by the market, CommSec says.

 

WINNERS

Here are the best performing ASX small cap stocks at 12pm Tuesday April 21:

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

CODE COMPANY PRICE % CHANGE MARKET CAP
VIP VIP Gloves 0.2 471.43% $22.8M
OCC Octanex NL 0.012 71.43% $1.9M
MBK Metal Bank 0.006 50.00% $3.5M
SPQ Superior Resources 0.003 50.00% $1.5M
PCL Pancontinental Oil&Gas 0.002 50.00% $5.4M
MTC Metalstech 0.165 26.92% $12.4M
BSM Bass Metals 0.004 33.33% $8.4M
REZ Resources Energy Group 0.015 25.00% $4.7M
CTO Citigold Corporation 0.004 33.33% $7.3M
TTM Titan Minerals 0.077 30.51% $45.0M
A1G African Gold 0.115 29.21% $5.2M
XCD Xcd Energy 0.005 25.00% $2.8M
GID GI Dynamics 0.005 25.00% $7.3M
CFO Cfoam 0.05 25.00% $7.1M
PKS PKS Holdings 0.16 23.08% $15.8M
NOX Noxopharm 0.205 20.59% $25.9M
ONX Orminex 0.072 20.00% $32.4M
AMD Arrow Minerals 0.006 20.00% $5.8M
AOU Auroch Minerals 0.055 19.57% $8.3M
MEP Minotaur Exploration 0.038 18.75% $14.1M
MDI Middle Island Resources 0.014 16.67% $24.7M

Medical glove maker VIP Gloves (ASX:VIP) surged ~470 per cent after telling shareholders that production was still going at its Malaysian plant after being deemed “essential”.

The company — which recorded a $995,700 net loss in December half — also says its order book is “fully committed” until December 2020.

“These orders represent the production of approximately one hundred (100) 40-foot shipping containers of nitrile gloves, each container holding up to 4 million gloves,” it says.

Biotech Noxopharm (ASX:NOX) is up +20 per cent after announcing it will test its prostate cancer drug against COVID-19.

Many biotech companies plunged in the early days of COVID-19 but those that have pivoted into the area have witnessed some share price gains.

 

LOSERS

Here are the worst performing ASX small cap stocks at 12pm Tuesday April 21:

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

CODE COMPANY PRICE % CHANGE MARKET CAP
AUH Austchina Holdings 0.001 -50.00% $1.6M
AEE Aura Energy 0.002 -33.33% $3.6M
CAD Caeneus Minerals 0.001 -33.33% $2.7M
AU1 Agency Group Australia 0.04 -31.03% $12.0M
CAP Carpentaria Exploration 0.02 -28.57% $5.5M
FPL Fremont Petroleum 0.003 -25.00% $5.0M
IMS Impelus 0.003 -25.00% $2.4M
CRO Cirralto 0.003 -25.00% $2.5M
CE1 Calima Energy 0.003 -25.00% $6.5M
RLG Roolife Group 0.031 -22.50% $10.6M
ARE Argonaut Resources 0.004 -20.00% $6.3M
QFY Quantify Tech 0.002 -20.00% $3.9M
WBE Whitebark Energy 0.004 -20.00% $12.2M
RNE Renu Energy 0.022 -18.52% $2.7M
BUD Buddy Platform 0.009 -18.18% $21.4M
CGN Crater Gold Mining 0.009 -18.18% $11.1M
ATS Australis Oil & Gas 0.023 -17.86% $27.6M
AHL Ahalife Holdings 0.005 -16.67% $8.0M
AVE Avecho Bio 0.005 -16.67% $9.5M
EMU Emu NL 0.015 -16.67% $5.4M