Lunchtime ASX small cap wrap: Who’s cutting ties with Spiderman today?

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Any Marvel fan would attest it was sad when Peter Parker quit being the Spiderman. But now even Marvel has quit.

The current deal between Sony and Marvel-Disney gives the latter only 5 per cent of gross box office revenue, and they wanted it 50-50 but couldn’t get it. So president Kevin Feige said overnight his studio won’t have anything to do with any more Spiderman films.

There are more films in the works by Sony, but it won’t be quite the same without Marvel after five and a half decades of involvement.

https://twitter.com/ethan_cator/status/1163939375010459648

Today the ASX Small Ords is down 0.45 per cent to 2,807 points, while the ASX 200 lost 1.1 per cent and fell to 6,474 points.

The Westpac-Melbourne Institute Leading Index, measuring growth expectation, was above trend for the first time since November last year.

But with economic conditions volatile, wage growth stagnant and markets retreating in August, Westpac is now suggesting we’ll see another rate cut in October when it had previously said November.

Michael Every from Rabobank had a thing or two to say about yesterday’s RBA minutes. “We were calling far lower RBA rates and Aussie QE when that sounded like saying Darth Vader was going to be Luke Skywalker’s father back in 1977,” he said.

Going up

Cazaly Resources (ASX:CAZ) is up 80 per cent after another buyer for its iron ore project came forward with a more compelling offer.

Central Petroleum (ASX:CTP) is also up today after independent certification of its coal project significantly exceeded its initial estimates.

Here are the best performing ASX small cap stocks at lunchtime, Wednesday August 21:

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

Going down

Australian Vanadium (ASX:AVL) fell after announcing a capital raising.

Here are the worst performing ASX small cap stocks at lunchtime, Wednesday August 21:

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

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