Lunchtime ASX small cap wrap: Who’s not crowing today?
Positivity around US-China trade talks helped boost US sharemarkets on Friday, while European sharemarkets also rose on Friday to 5-month highs, as “investors were comforted by the week’s Brexit votes”, Commsec says.
But the Brexit deadline looms and the UK still hasn’t figured out what it wants.
Dutch PM Mark Rutte says UK Prime Minster Teresa May reminds him of this guy:
“Look, I have every respect for Theresa May,” Mr Rutte said in an interview .
“She reminds me occasionally of that character from Monty Python where all the arms and legs are cut off but he then tells the opponent: ‘Let’s call it a draw.’
“She’s incredible. She goes on and on. At the same time, I do not blame her, but British politics.”
The ASX Small Ordinaries (ASO) – which measures the overall health of the small cap space – was up 0.34 per cent to 2794.9 points at about 12pm EST.
Here are the key ASX small cap winners and losers at lunch Friday March 15:
Kingsgate Consolidated (ASX:KCN) shareholders have waited many moons for this: the company’s insurers had agreed to cough up for its cancelled Thai mine.
This morning Kingsgate gave shareholders the good news – insurers had agreed to an $82m payout. And shares were up nearly 87 per cent to an intra-day peak of 28c just to after market open.
IoT and smart spaces play Buddy (ASX: BUD) was also up 21 per cent to 7.5c after updating the market on its acquisition of smart lighting business LIFX.
Topping the charts was lithium explorer Latin Resources (ASX:LRS), up 255 per cent on no news.
Here are the best performing ASX small cap stocks at 12.30pm, Monday March 18.
In January, Farm Pride Foods (ASX:FRM) said that finances were getting smashed by the national egg surplus, as well as ongoing drought conditions which impacted feed prices.
It also said “these unfavourable conditions are expected to continue for some time”.
Today, Farm Pride fell 27 per cent before the company went into a trading pause pending a further announcement.
Here are the worst performing ASX small cap stocks at 12.30pm, Monday March 18.