Lunchtime ASX small cap wrap: Who’s got floccinaucinihilipilification baffling them today?

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Ever heard of the word “floccinaucinihilipilification” before? India’s central bank board member Chetan Ghate obviously heard it from somewhere.

This week in the bank’s most recent meeting minutes he said, “In estimates of economic growth in India have unfortunately been subject to a fair degree of floccinaucinihilipilification. Notwithstanding this, growth is likely to pick up from Q2-Q3 2019-2020.”

Before you Google it, take it from us: it is an action or habit of estimating something as worthless. So we should probably stop trying to estimate India’s economic growth.

We hope we hear phrases like this at the Jackson Hole summit this weekend. That’d be one way to raise attention. Or next year hold it at Llanfairpwllgwyngyllgogerychwyrndrobwllllantysiliogogogoch in Wales.

https://twitter.com/russian_market/status/1158816872768397314

Our markets have finished the week on a mixed note. The ASX Small Ords is down 0.27 per cent to 2,812 points while the ASX 200 is up 0.25 per cent to 6,518 points. Both indexes are up 1.7 per cent this week — snapping a 2-week losing streak.

There was no new data today although investors be will watching Jackson Hole closely. Most economic data due out next week involves the construction sector including ‘work done’ and building approvals.

Going up

On Friday you’d like to think you’ve done a good job and that has been the case at Aus Tin Mining (ASX:ANW). It began commissioning the plant at its Granville mine and reported an immediate uplift in tin production and improved metallurgical performance. It gained 33 per cent.

ResApp (ASX:RAP) became commercially certified in Europe and it has gained 30 per cent this morning.

Here are the best performing ASX small cap stocks at lunchtime, Friday August 23:

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

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