Lunchtime ASX small cap wrap: Who’s rolling out the red carpet today?

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Australian markets have gotten off to a slow start this week, as lingering coronavirus fears added to the tone of cautious sentiment.

But it’s still only Sunday evening in LA, and the big names are out in force for the 92nd Academy Awards ceremony in Hollywood.

So for local stock traders with a passing interest in show business, there may be some distractions today.

Among the blockbuster categories, Joaquin Phoenix is an almost un-backable favourite to take out the Best Actor gong for his portrayal of the Joker.

While all eyes will be on Renee Zellweger, who’s expected to win Best Actress for her depiction of American entertainer Judy Garland in the film Judy.

And of course, there was the usual round of thrills and spills on the fashion red carpet. We’re not quite sure what’s happening here:

To markets now, and the ASX200 was down 0.44 per cent to 6,991 points while the Small Ords fell 0.69 per cent to 2,989 points.

WINNERS

Here are the best performing ASX small cap stocks at 12pm Monday February 10:

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

Sky Metals (ASX:SKY)

The resources company became the latest junior gold explorer to rip higher, after it announced maiden drilling efforts at its Cullarin project in NSW resulted in some high-grade gold strikes.

Sky said the volcaniclastic rocks, with elevated levels of zinc and lead sulphides, were “consistent with the target ‘McPhillamy’s style’ gold mineralisation”.

Impedimed (ASX:IPD)

The biotech stock got some good regulatory news, as US health authorities issued new guidelines for problems arising from breast cancer treatment which are consistent with the findings outlined in Impedimed’s Lymphoedema Prevention Program.

“The recent update to the NCCN guidelines shows that the medical community recognises the impact of lymphoedema on cancer survivors and the value of programs like ImpediMed’s LPP to address it,” CEO Richard Carreon said.

READ MORE: New US guidelines on breast cancer may help this ASX biotech

LOSERS

Here are the worst performing ASX small cap stocks at 12pm Monday February 10:

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

Horizon Oil (ASX:HZN)

Shares in the energy company slumped this morning, after it was implicated in a bribery scandal in Papua New Guinea.

Details of an alleged $US10.3m ($15.4m) payment in 2011 to a shell company with possible links to PNG’s previous petroleum minister were reported in the Australian Financial Review this morning.

The company issued a response to the AFR coverage saying it has “no actual knowledge of any wrongdoing relating to that transaction”. But that wasn’t enough to stop a selloff in Horizon shares, which fell by more than 30 per cent into midday trade.

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