Lunchtime ASX small cap wrap: Who’s bringing tacos and telcos together today?

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Who said telcos & tacos cannot be mixed? T-Mobile and Taco Bell say they can, through a new joint venture. For three days later this month, T-Mobil will be rebranding stories in major US cities as ‘T-MoBell’ combining telcos and tacos.

You can upgrade your T-Mobile phone and get a free taco and a free drink. Unfortunately Australians will have to settle to see it on YouTube – for now:

“For now” because on a more positive note, we will soon be seeing more Taco Bell stores in Australia. Last year one opened in Annerley Brisbane and by 2024, its owners want over 60 stores across Australia and New Zealand.

Of course earlier attempts to go Down Under did not go so well. One in the early 1980s ending up in a legal case familiar to many Australian law students.

Our markets are subdued again today, the ASX Small Ords is down by 0.04 per cent to 2,886. The ASX 200 meanwhile is up 0.41 per cent to 6,668.

The Westpac-Melbourne Institute Leading Index found our economy will continue to be subdued. While commodity prices and share market growth is high (the latter being the biggest contributor to growth), consumer confidence is low. The index was -0.02 per cent, up from -0.47 per cent in May.

The survey took account of June’s rate cut but not July’s. Westpac has tipped interest rates to be cut again, specifically in November.

Going up

Southern Gold (ASX: SAU) has climbed 50 per cent after announcing a surprise gold discovery at its South Korean project.

Force Commodities (ASX: 4CE) jumped 50 per cent as well after announcing an off-take agreement.

Here are the best performing ASX small cap stocks at lunchtime, Wednesday July 17:

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

Going down

Semiconductor stock 4DS Memory (ASX: 4DS) fell 9 per cent after announcing a capital raise.

Here are the best performing ASX small cap stocks at lunchtime, Wednesday July 17:

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

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