Local markets opened today in the wake of a big weekend of politics, as the incumbent Morrison government — heavy underdogs ahead of the result — swept to a comfortable victory and are now expected to form a clear majority.

Stock investors appeared to appreciate having some political clarity in Canberra for the first time in what feels like eons.

Shares in the embattled big banks positively roared ahead, with all four posting gains of at least five per cent in morning trade.

And the gains extended to small caps as the ASX Small Ords rose almost 1 per cent to 2,843.20 into the midday break — an intra-day gain of 27.7 points which left it just shy of 2019 highs.

GOING UP

It was a good morning for CCP Technologies (ASX: CT1), the struggling Internet of Things company which saw its share price rise by 40 per cent.

The company announced it has signed a deal with US distribution partner to roll out CCP’s smart-sensor temperature control technology at a new casino site in Boston.

While revenues from the deal are expected to be small, CCP said the deal has the potential to open up new avenues in the huge US market.

Elsewhere, there were some sharp moves in penny stocks across tech and resources while real estate company McGrath Ltd (ASX: MEA) rose 26 per cent, amid speculation the election result may provide a boost for Australia’s ailing housing market.

Here are the best performing ASX small cap stocks at 11:30am on Monday, May 20:

Ticker Name Price % Chg Market Cap Volume
CIO Connected IO Ltd 0.003 50% $3,600,000 169.0k
SRO Shareroot Ltd 0.0015 50% $2,400,000 2.8M
CT1 CCP Technologies Ltd 0.014 40% $6,200,000 2.7M
LRS Latin Resources Ltd 0.002 33% $7,000,000 5.1M
NOR Norwood Systems Ltd 0.004 33% $7,300,000 816.8k
TOM Tomizone Ltd 0.004 33% $1,700,000 42.7k
MTC MetalsTech Ltd 0.02 27% $2,200,000 180.6k
MEA McGrath Ltd 0.26 26% $47,000,000 288.0k
NEW Norwest Energy NL 0.0025 25% $476,600,000 750.0k
ROG Red Sky Energy Ltd 0.0025 25% $2,800,000 1.3M
VAL Valor Resources Ltd 0.005 25% $9,500,000 2.1M
WZR Wisr Ltd 0.17 21% $132,200,000 21.5M
IDT IDT Australia Ltd 0.17 21% $41,500,000 2.3M
SPQ Superior Resources Ltd 0.006 20% $4,100,000 500.0k
SRN Surefire Resources NL 0.006 20% $3,000,000 250.0k
VEC Vector Resources Ltd 0.0012 20% $25,700,000 4.3M
SMC Strategic Minerals Corp NL 0.36 20% $30,900,000 472.2k
ESH eSports Mogul Asia Pacific Ltd 0.013 18% $16,700,000 10.7M
NWC New World Cobalt Ltd 0.013 18% $7,800,000 380.0k
LTR Liontown Resources Ltd 0.1 18% $146,700,000 56.7M

 

GOING DOWN

Multistack International (ASX: MSI) — which provides eco-friendly commercial refrigeration products — led the laggards with a fall of 60 per cent.

The move came on no news for the manufacturer of modular chillers, which has a total market cap of just $674,000.

US-focused camera company Redflex Holdings (ASX: RDF) also fell hard, after legislation was passed in Texas which outlawed the use of photographic traffic enforcement systems.

Here are the worst performing ASX small cap stocks at 11:30am on Monday, May 20:

Ticker Name Price % Chg Market Cap Volume
MSI Multistack International Ltd 0.006 -60% $674,000 3.6k
CYQ Cycliq Group Ltd 0.002 -33% $1,900,000 32.5k
CAD Caeneus Minerals Ltd 0.001 -33% $1,900,000 70.0k
RDF Redflex Holdings Ltd 0.38 -28% $56,300,000 134.3k
E2M E2 Metals Ltd 0.19 -22% $15,300,000 452.4k
GPP Greenpower Energy Ltd 0.002 -20% $3,100,000 731.6k
INV Investsmart Group Ltd 0.09 -18% $11,800,000 5.0k
KPO Kalina Power Ltd 0.02 -17% $14,500,000 425.0k
DLC Delecta Ltd 0.005 -17% $3,500,000 72.2k
TZL TZ Ltd 0.15 -17% $10,600,000 2.1k
CTE Cryosite Ltd 0.04 -16% $1,800,000 5.6k
PGY Pilot Energy Ltd 0.011 -15% $874,000 31.6k
FEL Fe Ltd 0.02 -15% $6,700,000 34.0k
IAM Intiger Group Ltd 0.007 -14% $10,100,000 534.3k
QFY Quantify Technology Holdings 0.007 -13% $6,800,000 588.7k
LHB LionHub Group Ltd 0.007 -13% $5,800,000 100.0k
DDT DataDot Technology Ltd 0.007 -13% $5,700,000 855.9k
DVL DorsaVi Ltd 0.09 -12% $18,000,000 11.2k
FHS Freehill Mining Ltd 0.015 -12% $12,200,000 11.0k