Lunchtime ASX small cap wrap: Who’s on the move with a new set of wheels today?

We all respond to break ups in different ways. Some cherish the memories of the relationships, others just want to get rid of them.

British cooking show judge Paul Hollywood sold all of his luxury cars. Why? He wanted to get rid of anything that reminded them of his ex-girlfriend and she drove them all.

But don’t despair for him — he didn’t complete his overhaul without picking up a new set of wheels, a Land Rover.

https://twitter.com/MetcalfeDavid/status/1168517983821545478

Wall Street was back from the Labour Day long weekend and fell with the first chance to trade after the latest round of tariffs was implemented. The ASX Small Ords is down 0.67 per cent to 2,827 points whilst the ASX 200 is down 0.83 per cent to 6,519 points.

What concerned local investors more was our GDP figures. Australia’s economy grew 0.5 per cent in the June quarter and 1.4 per cent in the last year – the weakest in 10 years.

Government spending continued to take a higher share while consumer spending declined. On a brighter note, this morning’s release showed the mining sector is strong. Gross value added increased 3.4 per cent, profits rose 10.6 per cent and investment rose 2.4 per cent.

Going up

Oro Verde (ASX:OVL) climbed 14 per cent after announcing a defined exploration target at its rare earths project.

Lakes Oil (ASX:LKO) jumped 50 per cent having won a legal case involving its cancelled PNG licence.

Here are the best performing ASX small cap stocks at lunchtime, Wednesday September 4:

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

Going down

Battery metals explorer Lake Resources (ASX:LKE) dropped 20 per cent after announcing it was undertaking a capital raising to new investors at a discount.

Here are the worst performing ASX small cap stocks at lunchtime, Wednesday September 4:

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