Lunchtime ASX small cap wrap: Who wants to buy an island today?

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You’d think buying an island would be a pricey venture, right? Like only large caps could afford them (without provoking share holder outrage). But this island in Queensland looks like a bargain at only half Brisbane’s median housing price.

It’s Worthington Island which is just a 30-minute boat ride from Brisbane. The current owner rarely has the chance to visit anymore so its up for sale. The asking price? $385,000.

It comes with a 240-volt power generator, solar and rainwater systems, plus a 19th century well and bee box — that is currently unoccupied.

If you’re a city slicker it wouldn’t look flash.

If you’ve got more money there’s Temple Island and Quoin Island which are further up the coast, going for $1.5m and $1.9m respectively. At that price, it might be worth staying in Brisbane.

With the week the market has had, you might be forgiven for dreaming. The ASX Small Ords is down another 0.36 per cent (10 points) to 2,867 points. The ASX 200, which had its 3rd worst day of the year yesterday is also down again, by 0.23 per cent to 6,656.3 points.

Our lead from Wall Street was weak after investors began to realise maybe a rate cut won’t happen after all when the Federal Reserve meets later this month. Jerome Powell will give a big indication at a policy speech on Wednesday.

On our home front, we had NAB’s monthly business survey and, despite a slight rise in June, business confidence remains below average. NAB’s chief economist Alan Oster declared that the short-term election bounce and optimism about a “cycle” of interest rate cuts by the RBA were over.

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Going up

Alligator Energy (ASX:AGE) announced it was planning to invest in a nickel-copper project in Italy and shares jumped 33 per cent.

Remember that cyber safety company, Family Zone Cyber Safety (ASX:FZO), which two weeks ago gave a list of reasons why phones should be allowed in schools? Well its up 17 per cent this morning after its most recent quarterly update. Its now in 839 schools in the US and used by 482,000 students.

Here are the best performing ASX small cap stocks at lunchtime, Tuesday July 9:

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

Going down

The biggest loser was Crusader Resources (ASX:CAS), which fell 55 per cent after a capital raise took effect.

Here are the worst performing ASX small cap stocks at lunchtime, Tuesday July 9:

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

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