For many Australians, adhering to the rapid enforcement of social distancing rules has been a difficult adjustment.

But such measures are likely to become the “new normal” until a vaccine for COVID-19 is found, NSW Premier Gladys Berejiklian said this morning.

Investors would be familiar with the phrase, which was also coined by investment fund PIMCO in its assessment of the global economic outlook in the wake of the 2008 financial crisis.

Back then, the PIMCO team forecast a “new normal” for markets, punctuated by a low growth, low inflation environment.

This one is a little different, and although Bill Gates has pledged to spend billions on accelerating vaccine research for the virus, the new rules look like they’re here to stay for a while yet.

On markets, US stocks ripped higher into the close overnight on some optimism that the growth of new cases is starting to slow.

However, the 7 per cent gain on the S&P500 didn’t inspire local investors. The ASX200 opened around 2 per cent higher before falling back into red, down 0.50 per cent at 5,262.50 points by 12pm EST. The Small Ords index outperformed, with a gain of 0.80 per cent 2,186.10 points.

 

WINNERS

Here are the best performing ASX small cap stocks at 12pm Tuesday April 7:

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CODE COMPANY PRICE % CHANGE MARKET CAP
QFY Quantify Tech 0.002 100.00% $1.9M
FGO Flamingo 0.002 100.00% $1.1M
EM1 Emerge Gaming 0.01 66.67% $3.9M
TMZ Thomson Resources Ltd 0.015 50.00% $1.2M
MSE Metalsearch 0.009 50.00% $9.8M
RMX Red Mountain Mining 0.003 50.00% $2.6M
AVE Avecho Bio 0.003 50.00% $3.2M
EUC European Cobalt 0.019 35.71% $14.5M
NWC New World Cobalt 0.007 40.00% $4.4M
TYM Tymlez Group 0.014 40.00% $1.5M
ESH Esports Mogul Asia Pacific Ltd 0.007 40.00% $10.2M
AHX Admedus 8.9 38.85% $37.9M
BSX Blackstone Minerals 0.14 33.33% $20.2M
BRK Brookside Energy 0.004 33.33% $3.0M
LRS Latin Resources Ltd 0.004 33.33% $1.1M
CPT Cipherpoint 0.025 31.58% $982K
PIQ Proteomics Intl Labs 0.3 30.43% $28.5M
KIN Kin Mining NL 0.065 30.00% $39.9M
CNB Carnaby Resources 0.065 30.00% $6.2M
MRC Mineral Commodities Ltd 0.27 28.57% $113.7M
STM Sunstone Metals 0.009 28.57% $12.5M

Proteomics International Laboratories (ASX:PIQ)

The medtech company, which makes the PromarkerD diagnostic test kit for diabetic kidney disease, got a boost after providing updates across its product pipeline.

Among the new developments, PIQ said it had initiated research “seeking to develop a rapid diagnostic test for the identification of the SARS-CoV-2 virus, and to isolate biomarkers that give insights into the progression of the COVID-19 disease”.

 

LOSERS

Here are the worst performing ASX small cap stocks at 12pm Tuesday April 7:

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CODE COMPANY PRICE % CHANGE MARKET CAP
88E 88 Energy 0.009 -55.00% $64.0M
ENE Enevis 0.1 -37.50% $10.7M
KAS Kasbah Resources 0.025 -34.21% $3.4M
AYR Alloy Resources Ltd 0.001 -33.33% $2.3M
PMY Pacifico Minerals Ltd 0.003 -25.00% $8.7M
PPL Pureprofile Ltd 0.003 -25.00% $360K
SKN Skin Elements 0.068 -20.93% $21.9M
SE1 Sensera 0.004 -20.00% $1.3M
ARE Argonaut Resources N L 0.004 -20.00% $6.3M
UNL Unitednetworks 0.02 -20.00% $7.9M
PEK Peak Resources 0.021 -19.23% $27.4M
NZS New Zealand Coastal Seafoods 0.014 -17.65% $7.4M
ESR Estrella Resources Ltd 0.005 -16.67% $2.7M
WWG Wiseway 0.1 -16.67% $14.0M
GNM Great Northern Minerals 0.005 -16.67% $2.2M
AEE Aura Energy Ltd 0.003 -16.67% $3.5M
SCU Stemcell United Ltd 0.01 -16.67% $6.4M
PNC Pioneer Credit Ltd 0.555 -16.54% $34.9M