Lunchtime ASX small cap wrap: Who’s getting ahead of themselves today?

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If you thought Qantas wanting to fly from Australia to New York and London direct was ambitious, think again. Take a look at this Nigerian airline – Air Peace.

It has operated domestic flights since 2013 but this month has launched flights between Lagos and Sharjah in the UAE. If you want to get to Dubai, then they’ll bus you the rest of the way.

Air Peace has several planned destinations but for now it only has one long haul aircraft.

American aviation blogger Ben Schlappig wants to fly on Air Peace. But as he admits, he had a similar airline crush on TAAG Angola and that didn’t end well for him. (So next time you complain about TigerAir and Jetstar think again).

TAAG Angola's Old First Class — My Worst First Class Flight Ever – https://t.co/Lh0Pm575vC pic.twitter.com/TZh3KMEF5z

— Ben Schlappig (@OneMileataTime) March 12, 2018

Perhaps he should stick to that Caribbean startup which acquired a 747 and wants to fly it from St Vincent to Dubai.

Australia’s market is not getting ahead of itself today. The ASX Small Ords is down 0.06 per cent to 2,893 while the ASX 200 has gained 0.06 per to 6,658.

ANZ Consumer Confidence has declined again by 1.5 per cent yet consumers still remain positive about their own circumstances.

The minutes of the RBA board meeting were released and while the outlook was reasonable, trade and technology dispute risks remained high and inflation was low.

Going up

Astro Resources (ASX: ARO) jumped 50 per cent after announcing drilling had begun at its gold-silver project in Nevada.

Nanollose (ASX: NC6) climbed nearly 30 per cent after announcing a eco-friendly fabric making process it had trialled had worked.

Here are the best performing ASX small cap stocks at lunchtime, Tuesday July 16:

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

Going down

Great Western Exploration (ASX: GTE) suffered a major setback in a drilling program and it’s fallen 40 per cent today.

Here are the worst performing ASX small cap stocks at lunchtime, Tuesday July 16:

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

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