Lunchtime ASX small cap wrap: Who’s ruining everyone’s fun today?
You’ve probably heard of Fortnite, the world’s most popular video game which made Epic Games about $US3 billion in profits last year.
Well, the sixth in line to the British throne is not a fan. Prince Harry reckons the game should be banned, calling it an addictive creation designed “to keep you in front of a computer for as long as possible”.
Closer to home, and local markets are acting as something of a wet blanket themselves, with falls accelerating following yesterday’s small decline.
The Small Ords had lost more than 20 points by 12pm AEST to a reading of 2,756.10, down 0.8 per cent for the session.
Leading the pack today were mining and energy minnows Pancontinental Oil & Gas NL (ASX: PCL) and PepinNini Lithium Ltd (ASX: PPN), which both registered a 50 per cent gain to 0.3 cents per share — although there were no key developments for either company.
Mineral Commodities (ASX: MRC) had a good session, gaining 25 per cent to 20 cents after yesterday’s announcement that it had purchased a 100 per cent interest in the Trælen graphite mine in northern Norway for $9.2 million.
And copper miner Hot Chili (ASX: HCH) jumped by almost 30 per cent to climb back above 3 cents per share. The company got a please-explain from the ASX in February after its share price almost doubled in three days.
Here are the best performing ASX small cap stocks at midday on Friday, April 5:
Shares in Austral Gold (ASX: ASG) came out of a trading halt and sank by more than 20 per cent to 9 cents, after the company announced yesterday that it would be placing its 70 per cent-owned Casposo mine in Argentina on “care and maintenance”.
And it was another rough session for sportswear company XPD Soccer Gear Group Ltd (ASX: XPD), which fell by more than 20 per cent to 1.6 cents after a 10 per cent fall yesterday, after the company released an updated corporate governance statement.
Here are the worst performing ASX small cap stocks at midday on Friday, April 5: