Lunchtime ASX Small Cap Wrap: Who’s afraid of the D-word today?
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The market for WTI crude oil remains one of high drama.
May futures contracts were deemed worthless on Monday, but early trading for June contracts were less volatile with WTI crude initially priced at around $US21 ($33) a barrel.
But in global markets overnight, traders promptly smashed the price of WTI crude scheduled for June delivery as well. Prices briefly fell below $US10, before rallying back to around $US13/bbl.
With large swathes of society holed up at home, oil demand has collapsed. And it’s led some commentators to speculate whether oil marks the early onset of significant deflationary (in this case, the D-word) forces for policymakers to grapple with in the months ahead.
It adds another wrinkle to what is already an impossible macroeconomic puzzle for investors to put together.
In that environment, local stocks got off to another cautious start today, initially falling by another 2 per cent before finding support.
The ASX200 was down by 0.8 per cent heading into midday trade, on track for its third straight fall. It was slightly more volatile on the Small Ords Index, which fell 1 per cent.
US stock futures were flat, while gold was holding steady just shy of $US1,700 an ounce (~$2,680/oz). Iron ore prices came off overnight, with spot prices for benchmark 62 per cent fines falling 3.5 per cent to $US84.37/t.
Here are the best performing ASX small cap stocks at 12pm Wednesday April 22:
Swipe or scroll to reveal the full table. Click headings to sort.
CODE | COMPANY | PRICE | % CHANGE | MARKET CAP |
---|---|---|---|---|
JPR | Jupiter Energy | 0.006 | 200.00% | $920K |
CAD | Caeneus Minerals | 0.002 | 50.00% | $2.7M |
MGT | Magnetite Mines | 0.003 | 50.00% | $2.9M |
BAS | Bass Strait Oil Co Ltd | 0.002 | 50.00% | $5.0M |
CE1 | Calima Energy | 0.004 | 33.33% | $8.6M |
HT8 | Harris Technology | 0.049 | 22.50% | $9.3M |
SP3 | Spectur | 0.054 | 20.00% | $4.1M |
SGI | Stealth Global | 0.06 | 17.65% | $7.4M |
NXE | New Energy Minerals | 0.007 | 16.67% | $1.2M |
SVD | Scandivanadium | 0.007 | 16.67% | $1.3M |
MTC | Metalstech | 0.175 | 16.67% | $20.6M |
LBT | LBT Innovations Ltd | 0.115 | 15.00% | $27.1M |
A1G | African Gold Ltd | 0.115 | 15.00% | $6.7M |
MRZ | Mont Royal Resources | 0.17 | 13.33% | $6.4M |
RML | Resolution Minerals Ltd | 0.13 | 13.04% | $23.6M |
FIJ | Fiji Kava | 0.053 | 12.77% | $4.5M |
ARV | Artemis Resources | 0.027 | 12.50% | $24.7M |
NVO | Nvoi | 0.009 | 12.50% | $12.0M |
CYG | Coventry Group | 0.55 | 12.24% | $44.0M |
EUR | European Lithium | 0.046 | 12.20% | $26.0M |
PTX | Prescient Therapeutics Ltd | 0.039 | 11.43% | $13.8M |
There weren’t many ASX small-caps that made it onto today’s winner’s list based on a market-moving announcement.
However, while the COVID-19 pandemic is creating a tough environment for clinical trials, cancer-fighter Prescient Therapeutics (ASX:PTX) climbed by more than 10 per cent in morning trade after announcing positive results from the phase 1b study of its PTX-100 treatment.
Now the initial dose level has been proven safe with the first cohort of patients, PTX will move to the next dose level of 1,000mg/m2.
Here are the worst performing ASX small cap stocks at 12pm Wednesday April 22:
Swipe or scroll to reveal the full table. Click headings to sort.
CODE | COMPANY | PRICE | % CHANGE | MARKET CAP |
---|---|---|---|---|
TMK | Tamaska Oil and Gas Ltd | 0.004 | -33.33% | $3.6M |
OEX | Oilex | 0.002 | -33.33% | $6.9M |
NAE | New Age Exploration Ltd | 0.002 | -33.33% | $1.8M |
ICG | Inca Minerals Ltd | 0.001 | -33.33% | $4.1M |
CDT | Castle Minerals Ltd | 0.006 | -25.00% | $1.4M |
GLL | Galilee Energy Ltd | 0.495 | -25.00% | $135.7M |
IBG | Ironbark Zinc Ltd | 0.006 | -25.00% | $5.5M |
STM | Sunstone Metals | 0.006 | -25.00% | $8.3M |
PUA | Pure Alumina | 0.01 | -23.08% | $2.2M |
CUL | Cullen Resources | 0.007 | -22.22% | $1.6M |
QFY | Quantify Tech | 0.002 | -20.00% | $3.9M |
TMX | Terrain Minerals Ltd | 0.004 | -20.00% | $2.9M |
TRT | Todd River Resources | 0.013 | -18.75% | $3.2M |
FEL | Fe Ltd | 0.009 | -18.18% | $4.4M |
RNT | RENT.COM.AU Ltd | 0.032 | -17.95% | $9.7M |
NVU | Nanoveu | 0.057 | -17.39% | $7.6M |
LCK | Leigh Creek Energy | 0.096 | -16.52% | $55.7M |
ALK | Alkane Resources | 0.69 | -16.36% | $403.1M |
ONX | Orminex | 0.052 | -16.13% | $28.0M |
ATU | Atrum Coal | 0.235 | -16.07% | $110.0M |
EX1 | Exopharm | 0.21 | -16.00% | $20.0M |