Lunchtime ASX small cap wrap: Who’s holding a dry regatta today?

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Organizers of the Henley-On-Todd Regatta describe the race as the most fun you can have without water at a regatta and they’re probably right.

Being 1,500km away from a large body of water, Alice Springs locals have to be creative and they hold this event on dry land.

The big show! #henleyontodd pic.twitter.com/5HheAyX7db

— Sonia Ahhh🌈 (@soniaahhh) August 17, 2019

The event raises money for charity, brings tourists to the region and is fun for local school kids (schools use it as a tool to encourage attendance among children).

Some schools in the cities take rowing more seriously and make kids go to the final race – Head of the River – on a Saturday, school uniforms and all. Just like the real Henley Regatta. This author thinks they would do well to take a leaf out of Alice Springs’ book.

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After a rough couple of weeks where our markets lost around 5 per cent – they are having a more solid week. The ASX Small Ords is up again by 0.33 per cent to 2,797 points, while the ASX 200 is up 0.59 per cent to 6,505 points.

While there was no economic data today, the RBA’s board minutes told us what we already know. Having cut interest rates twice it was appropriate to wait and see and we may see “an extended period of low interest rates”.

This week is the Jackson Hole symposium, an end of (US) summer retreat for Central Bankers. Philip Lowe will be in attendance along with the entire US federal reserve.

Going up

Race Oncology (ASX:RAC) announced a major biotech investor had bought in.

Roots (ASX:ROO) is up another 18 per cent today, a day after announcing it was getting into plant-based meat.

Here are the best performing ASX small cap stocks at lunchtime, Tuesday August 20:

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

Going down

Sunstone Minerals (ASX:STM) fell 17 per cent after investors did not like a drilling update.

But the biggest laggard was telco Reverse Corp (ASX:REF) which fell over 70 per cent despite having no news.

Here are the worst performing ASX small cap stocks at lunchtime, Tuesday August 20:

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

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