Lunchtime ASX small cap wrap: Who’s looking a bit wobbly today?

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Happy Friday! Although we’re not sure the usual TGIF rules apply, given everyone is locked in for the weekend these days.

There was another bullish session on the S&P500 overnight, as the US government’s $US2 trillion ($3.3 trillion) stimulus package got approved in the Senate.

Markets already knew the stimulus was coming, but that didn’t stop the Dow Jones index from posting another 6 per cent gain, bringing its cumulative three-day increase to 21 per cent (technically, that’s a bull market).

As for the economic impact on the ground, US initial jobless claims came in at 3.28 million. For context, the previous high (going back 50 years) was around 600,000.

With news-flow changing daily, the outlook for assessing the medium-term economic impact is just as hard as it was a week ago.

Local markets got off to a relatively calm start (by recent standards) this morning, as stocks rose 2 per cent — on track for their fourth straight day of gains.

But sentiment dimmed into midday trade, and just after 12pm EST the ASX200 was down 0.8 per cent. The Small Ords index was treading water with a gain of 0.82 per cent.

WINNERS

Here are the best performing ASX small cap stocks at 12pm Friday March 27:

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

1st Group (ASX:1ST)

The ASX has made it clear that opportunistic announcements related to COVID-19 now warrant further scrutiny.

But 1st Group’s market update passed the test this morning, as the digital health platform announced the launch of a healthcare services directory to simplify the enquiry process for COVID-19 tests.

The directory has “over 200 COVID-19 clinics already listed, including all government pop-up clinics, with more being added every day”, 1st Group said. Shares in the company climbed more than 40 per cent in morning trade.

LOSERS

Here are the worst performing ASX small cap stocks at 12pm Friday March 27:

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

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