Lunchtime ASX small cap wrap: Who’s feeling the (European) heat today?

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It’s that time again when we hear about ‘European heatwaves’.

Usually we see headlines but when we read the article, we see temperatures are only in the 30s. People in towns like Port Augusta, who had a 50-degree day last summer, would think, “toughen up”.

But this year, the European’s concerns might be justified. Southern towns in France are predicted to get as high as 45 degrees on Friday.

A gauche carte des températures à 1500m prévues par GFS. A droite le cri de Munch.
Jamais vu ça en 15 que je regarde des cartes météo #canicule pic.twitter.com/RIJTXiCUh1

— Ruben H (@korben_meteo) June 20, 2019

Essentially this user is saying they’ve never seen anything like this. And indeed they’re correct. It’s also hitting the 40s in Spain, while northern France and several Italian cities will hit the high 30s. Even major cities in Denmark and Sweden will reach the mid 30s.

But meteorologists are predicting England, where our cricketers are, will be spared – for this week.

As a result, end of year exams have been cancelled, local authorities are setting up public cooling rooms and people are flocking to beaches and pools. Business would be booming if you manufactured fans or anything remotely to do with beaches.

Our summer may have ended months ago but considering our markets are up, it’s like the good times never ended. The ASX 200 is up nearly 18 per cent this year and has finally surpassed its pre-GFC high.

The ASX Small Ords is up 16 per cent this year, although is still some way short of its pre-GFC high. Today it has fallen by 5 points (or by 0.19 per cent) to 2854.

Going up

Red Sky Energy (ASX: ROG) has rocketed 25 per cent today after announcing the completion of a strategic review of its project. It is estimated it has a Contingent Resource of 20 billion cubic feet of gas.

After falling after a capital raise, Quantify Technology (ASX: QFY) has jumped back up after announcing a client win.

Here are the best performing ASX small cap stocks at lunchtime, Wednesday June 26:

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

Going down

Superior Lake Resources (ASX: SPO) fell after a capital raise took effect. Rimfire Pacific Mining (ASX: RIM) fell after announcing one, this raise being a rights issue open to shareholders.

Despite the falls, both companies’ management have promised the money will help the next few months be rosier.

Here are the worst performing ASX small cap stocks at lunchtime, Wednesday June 26:

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

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