Lunchtime ASX small cap wrap: Who’s got the best lifting game today?

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How can you lift boats out of water? A common way in Australia is to pull them out using heavy vehicles.

But in Scotland they do things differently.

The Falkirk Wheel opened in 2002 and connects two major canals in Scotland. It is the only “rotating boat lift” in the world – scooping the boats out of water and lifting them up to the bridge.

Then what happens? Do they just get driven to the lake? No, due to the architecture of the bridge, the boats can make it without the help of land vehicles.

Although it takes 50 minutes for the bridge to work, at least they stay the same side up. Dependent on their size, multiple boats can fit at once – for instance if there are only small canoes then up to 50 can fit.

The bridge is a significant tourist attraction. In fact, considering the tourism website is run by “Scottish Canals”, perhaps many canals in Scotland are tourist hotspots.

We are only halfway until Christmas but our markets are fairly muted. The ASX Small Ords gained 2 points (or 0.06 per cent) to be 2,878.

We may be a week away from another rate cut in Australia, but the US are another few weeks away, at least. Morgan Stanley analyst Mike Wilson predicted that either way the Fed goes, the S&P 500 Index could fall 10 per cent next quarter if economic data deteriorates and the trade war goes on.

Australia would likely follow such a broader correction. ANZ economist David Plank said this morning, in ANZ’s weekly consumer confidence update, Australians were positive about their individual circumstances but less about the broader economic outlook.

Going up

Among today’s gainers, iron ore explorer Havilah Resources (ASX: HAV) surged 15 per cent after positive assay results. Also, Antiogen Medical (ASX: ACW), whose anti-Alzheimers drug failed its clinical trial, is up 20 per cent despite having no news.

Here are the best performing ASX small cap stocks at lunchtime, Tuesday June 25:

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

Going down

Smart hearing solutions stock Nuheara (ASX: NUH) fell after a company update. Among its developments, Nuhearea said it would only sell high-value through third party manufacturers. Despite having some positive news including strong US retail results and a government contract extension, it’s down 17 per cent.

Another decliner was Quantify Technologies (ASX: QFY) which fell after announcing a capital raising.

Here are the worst performing ASX small cap stocks at lunchtime, Tuesday June 25:

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

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