Lunchtime ASX small cap wrap: Who’s getting ready for a cut today?

It’s been almost three years since Australia’s central bank moved interest rates, but that could be about the change today.

Based on market pricing, it’s almost a lock that the RBA will cut rates to 1.25 per cent at 2:30pm (AEST).

As a sidenote, here’s how the market reacted way back when the last time rates were cut.

It will all follow a bad result for April retail sales data that dropped this morning, which slumped unexpectedly, led by falls in NSW and Victoria.

Amid a possible shift in the macroeconomic winds, the ASX Small Ords is on track for its fifth consecutive fall.

As at 12:15pm AEST, the index had fallen by another 0.49 per cent to 2,755.20.

Going up

It’s been a big morning for Africa-based gold miner Predictive Discovery (ASX: PDI), which shot out of the blocks and by midday had posted a 200 per cent gain for the session.

The company announced a key discovery at its Ferkessedougou North project in northern Cote D’Ivoire, where it found “thick gold intercepts” within a mineral body that’s 100 metres wide and at least 210 metres long.

Also benefitting off the gold find was Aurora Minerals (ASX: ARM), which almost doubled in morning trade courtesy of its 21.9 per cent shareholding in PDI.

Here are the best performing ASX small cap stocks at lunchtime, Tuesday June 4:

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

Going down

On the other side of the ledger, there was the usual round of falls among mining and resources that typically trade in low liquidity.

Metals Australia (ASX: MLS) dipped by a third to 0.1 cents on news, with similar falls for Adcorp Australia (ASX: AAU) and Torian Resources (ASX: TNR).

Here are the worst performing ASX small cap stocks at lunchtime, Tuesday June 4:

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