Lunchtime ASX small cap wrap: Who’s got a thing for ‘Dad Shoes’ today?

Fila is an iconic brand. It began in Italy in 1911 and had its heydays in the 1990s. It spent the 2000s struggling, but in recent months it is staging a comeback.

Its shares, listed in Korea, are up 400 per cent in 18 months. Celebrities from Rihanna to Kendall Jenner are wearing Fila products.

And while it’s targeting younger consumers, Fila’s bringing back the older products that made it successful two decades ago. Some of them are colloquially referred to as ‘dad shoes’. They are typically chunky and have exaggerated features.

Who’s behind Fila’s comeback? Korean business magnate Yoon Yoon-soo. He has called the brand “more like a baby I had at the age of 45”.

He did not literally have a baby though; that’s the age Yoon was when he first joined in 1991 as head of South Korea business. Then in 2007 he led a buyout of the global firm and listed it in South Korea in 2010. He has made a fortune worth several hundred million dollars off Fila.

The ASX Small Ords has not had a good start to the week down 0.68 per cent to 2872 or by 20 points. This came despite a US-Iran war seeming unlikely and a further rate cut seeming as little as a week away.

Curiously though, today is the third anniversary of the date we found out the result of the Brexit referendum. Today, we are just as clear on when they’re leaving and in what form as we were then. Judging by that, as well as the stocks on today’s list of winners and losers, uncertainty hurts.

Going up

One stock rose over 300 per cent today. Uranium miner Hylea Metals (ASX: HCO) announced it was buying Paladin Energy’s (ASX: PDN) stake in the Kayelekera uranium mine.

In the opening minutes of trade it surged 130 per cent, and at 12pm it’s up 430 per cent to 6.9 cents! An impressive rise, but it is nowhere near an all-time record.

Also among the risers today were Chilean focused gold miner EMU (ASX: EMU) which announced a three-year extension on its options to purchase concessions at its Vidalita project. Arafura Resources (ASX: ARU) announced positive laboratory assay results of recently mined tungsten.

Here are the best performing ASX small cap stocks at lunchtime, Monday June 24:

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

Going down

How Mount Burgess Mines (ASX: MTB) will power its project in Botswana is no more clearer this morning and shares are down 33 per cent. Despite being advised upgrades would be completed by the end of the year, it has had to submit a proposal to the government and might need to seek money from them.

Here are the worst performing ASX small cap stocks at lunchtime, Monday June 24:

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

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