Lunchtime ASX small cap wrap: Who’s feeling presidential today?

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Markets are heading into a US election year, which most likely means another round of thrills and spills on the political campaign trial.

And before the Democrat party can launch a challenge to retake the White House from incumbent President Donald Trump, it will need to choose a nominee.

Throwing his hat into the crowded ring (of almost 20 candidates) over the weekend was Michael Bloomberg, owner of the eponymous media company and former mayor of New York City.

He ran for mayor as a Republican, which presumably places him on the right of leading Democrat candidates Elizabeth Warren and Bernie Sanders in terms of political policy.

And while President Trump’s actual net worth remains the subject of ongoing speculation, there’s no doubt Bloomberg has some serious dough — around $US50 billion ($73.5 billion) at last count. He kicked things off with a bang on Friday by dropping a quick $30m for a week-long ad blitz to launch his campaign.

It wasn’t quite as explosive on local markets, as the ASX Small Ords drifted lower into midday trade to 2,880 points — a fall of 0.11 per cent.

The big end of town fared better on the back of a solid US lead, as the ASX200 climbed by around 0.5 per cent to 6,746.60 points.

GOING UP

Mithril Resources (ASX:MTH) rose strongly in morning trade, after the market approved of its acquisition of Sun Minerals, which in turn holds a 100 per cent interest in a “high-grade gold silver project” in Durango, Mexico.

And investors were also optimistic about results from a phase II clinical trial for Kazia Therapeutics (ASX:KZA), whose treatment may be able to give glioblastoma (brain cancer) sufferers three more months of life. The early results are based on eight patients out of a total of 29.

Here are the best performing ASX small cap stocks at 12pm on Monday, November 25:

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

GOING DOWN

KalNorth Gold Mines Ltd (ASX:KGM) fell after announcing the results from a shareholder vote at its annual general meeting on Friday evening. Three motions, including the re-election of director Xiaojing Wang and the approval of a 10 per cent placement facility, were passed by shareholders.

Here are the worst performing ASX small cap stocks at 12pm on Monday, November 25:

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

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