Lunchtime ASX small cap wrap: Who’s phoning it in today?
If you’re an ASX investor with a passing interest in UK Royal Family drama, there were some more exciting developments over the weekend.
It all stems from last week’s announcement by Prince Harry and his wife Meghan, who said they plan to step back from royal duties and seek “financial independence”.
Now, reports indicate the Queen has summoned Harry, his brother William and their dad Charles for a face-to-face meeting later today, to clarify how the younger Prince’s role within the family will proceed.
Meghan is also expected to participate, but not in person; she’ll dial in from her current base in Toronto, Canada.
Some more intrigue filtered through the web of media and sources connected to the Royal Family overnight, after multiple outlets reported comments made by Prince William to a friend.
The Duke of Cambridge said he’d put his arm around his younger brother “all our lives and I can’t do that any more; we’re separate entities”.
It was slightly less dramatic on local markets, although the ASX200 lost ground in midday trade after making a solid start to 2020 last week.
The index was down 0.55 per cent to 6,891 points, while the ASX Small Ords fell 0.41 per cent to 2,979 points.
Within the small-cap universe, the morning gains were largely focused in familiar sectors — mining & energy — with all of the top 10 movers coming from those two industries.
However, there weren’t many new announcements that provided the catalyst for a major move among the midday leaders.
Gold and copper explorer Challenger Exploration (ASX:CEL) was up more than 13 per cent at 13.5c, after announcing a $6.5m share placement to sophisticated investors to advance its existing projects in South America. The company said it plans to issue 65 million shares priced at 10c each.
Here are the best performing ASX small cap stocks at 11.45am on Monday, January 13:
Among the losers was life sciences company eSense-Lab (ASX:ESE), which lost 15 per cent to trade at 1.1c.
The company announced a new board appointment, with Dr James Ellingford set to join as non-executive Chairman. Ellingford’s career experience includes a stint as president of NASDAQ-listed software company Take-Two Interactive.
Here are the worst performing ASX small cap stocks at 11.45am on Monday, January 13: