Lunchtime ASX small cap wrap: Who’s getting an overhaul today?

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Qantas’ 12-member A380 fleet is getting a makeover. While eight aircraft had been repainted, four had yet to receive it and one of them went through the fortnight-long process last month.

After the first eight were completed in Dubai with Emirates, the ninth was done in Busan, Korea and judging by the picture above (released by Korean Air earlier this week), the staff were proud of their work.

But all of Qantas’ A380s will receive an internal overhaul, particularly in the business class and premium economy cabins. CEO Alan Joyce has said we will see these seats on the superjumbos in September, although they are already available on the A330s and 787s.

There is one A380 (registered VH-OQE or named ‘Lawrence Hargrave’) in Europe right now for the most major overhaul it will receive in its lifetime but there’s no word as to whether the seating changes will happen now or at another time.

AV geeks on various airline forums are reporting a different A380 will be the first to go into surgery (VH-OQK ‘John & Reginald Duigan’), and it will enter Airbus’ workshop in July.

Like in Korea, the maintenance staff took the opportunity to get up close to the aircraft when it arrived. As you can see, it is one of three yet to be repainted so the Busan staff will eventually have their chance to get up close with this one.

🛬Premiere: Am Montagabend ist zum ersten Mal ein #A380 der australischen Airline #Qantas Airways auf dem #Flughafen #Dresden gelandet. Der Megaliner wird nun von den Elbe Flugzeugwerken gewartet. #planespotting #specialguest #dresdenairport pic.twitter.com/ATyOZlfzUV

— Dresden_Airport (@dresden_airport) May 28, 2019

As those people revel in being up close to superjumbos, our markets are continuing to revel in record low interest rates. The ASX Small Ords was up another 14 points to 2,772 or 0.5 per cent at 11.30am.

Going up

IT stock Connected IO (ASX: CIO) is up 50 per cent after announcing its fourth consecutive quarter of revenue growth. It made $501,000 in this current quarter alone. It’s also reporting its customers are so satisfied, they’re coming back for more.

While Genetic Technologies (ASX: GTG) is up 17 per cent despite having no news, it is noteworthy that a few days ago a director, Samuel Lee, sold all his stock for $700,000. If he’d waited until today, he would have netted over $100,000 more.

Other stocks continued to grow off the back of good news from yesterday, Neurotech (ASX: NTI) being one of them.

Here are the best performing ASX small cap stocks at lunchtime, Thursday June 6:

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

Going down

There wasn’t a lot of downward action this morning.

Of note was Amani Gold, which fell 16% desite not releasing any news since announcing it had completed a placement of 1,523,000,000 shares at $0.002 per share to raise $3m a week ago.

And MyFiziq (ASX: MYQ) fell 17 per cent. It’s announced a trading halt until Tuesday, when it will make an announcement “regarding a proposed commercial partnership agreement to integrate MYQ technology that is material to the company”.

Here are the worst performing ASX small cap stocks at lunchtime, Thursday June 6:

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

At Stockhead, we tell it like it is. While MyFiziq is a Stockhead advertiser, it did not sponsor this article.

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