Lunchtime ASX small cap wrap: Who’s blowing out today?
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People, there’s a bullish feeling in the air.
But before we talk about small caps, check out the pic above of the next US NBA star Zion Williamson after injuring his knee.
He blew out his Nikes. And Nike’s cap dropped about, ooh, a couple billion dollars within hours.
Back here, markets have edged higher again, with the ASX Small Ords up 0.47 per cent to 2,741.4 at 12pm EST.
The ‘horror of late 2018’, when the small ords quickly slumped to 13-month lows, is becoming a distant memory.
Check this out:
The spot gold price was near US$1,326 an ounce in late US trade yesterday, while iron ore fell by US60 cents or 0.7 per cent to US$86.70 a tonne.
Here are the biggest winners (and losers) at lunch Friday February 22:
Almost a year ago Triangle (ASX:TEG) and Norwest Energy (ASX: NEW) said they had a candidate lined up to survey their fruitful new oil find, Xanadu.
Today, the companies said they finally got State Government permission to do said seismic survey.
The share price result was a goodun’ for Norwest, which immediately jumped 50 per cent to 0.3c.
Triangle was less fortunate, gaining only 4 per cent to touch 13c in the first minutes of trading.
And Online carsales company iCar Asia (ASX: ICQ) has touted its top-line revenue results, which increased by 27 per cent to $11.6 million for the year.
Investors were relatively happy with the result, sending the stock up nine per cent in morning trade to 12 cents per share.
After-tax losses increased slightly to $13.606 million, although $2.64m of foreign exchange gains pegged the net loss back to $10.928m.
Here are the best performing ASX small cap stocks at 12pm Friday February 22:
Investors were displeased with the half-year update from laser therapy company Ellex Medical Lasers (ASX:ELX), sending the stock down 18 per cent on Friday morning.
Shares hit a four-year low, dropping to 50c shortly after the market opened.
The results weren’t disastrous — revenue rose 9 per cent to $41.6 million — but there was very little change in the company’s bottom line compared with the 2018 half-year.
Here are the worst performing ASX small cap stocks at 12pm Friday February 22:
Finally, while reports China is banning the import of Australian coal is not good news for our coal miners, there is this assurance that a long-term ban is unlikely.
Results for coal miners on the ASX were mixed on open – some up and some down – but not by big margins.
At least we’re not in Siberia, where coal be all like:
Toxic black snow is falling from the skies in a coal mining region of Siberia pic.twitter.com/xdvIvcaLK0
— SBS News (@SBSNews) February 20, 2019