Lunchtime ASX small cap wrap: Who’s giving away too much today?
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In today’s edition of “things not quite going to plan”, a Miami nightspot got a little more than it bargained for in a World Cup soccer promotion.
American Social offered a free shot of lemondrop for every goal the US women’s team scored against Thailand.
Back on the ASX Small Ords, there were less surprises as stocks drifted lower following a weaker global lead.
By midday, the XJO had fallen 22.7 points to 2,842.7, an intra-day fall of 0.79 per cent.
Monthly employment data showed a gain of 42,000 against just 16,000 forecast, although the increase was driven by growth in part-time jobs and unemployment was unchanged at 5.2 per cent as more people were looking for work.
Amid the usual round of large percentage jumps for the penny stock minnows, investment advisory company Countplus (ASX: CUP) stood out with a gain of more than 35 per cent in morning trade.
CUP announced it will acquire Count Financial, the troubled wealth management arm of Commonwealth Bank, in a $2.5m deal.
To put the fire-sale in context, CBA initially purchased Count Financial’s network of financial planners for $373m in 2011.
A report in the AFR shows CountPlus was spun out of Count Financial in 2010, and CBA still owns a 35.9 per cent stake in the spinoff. CBA will also provide a $200m indemnity for any liabilities stemming from past issues at the company.
Here are the best performing ASX small cap stocks at lunchtime, Thursday, June 13:
On the other end of the spectrum, Argentina-based lithium explorer Latin Resources (ASX: LRS) was the worst performer, falling 33.33 per cent to four cents per share on no news.
Here are the worst performing ASX small cap stocks at lunchtime, Thursday, June 13: