Lunchtime ASX small cap wrap: Who’s suffered a meat-less meat pie today?

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The meat pie. It’s a staple of footy – whatever code you think of when you hear the F-word. But what would it be without meat?

One unfortunate Adelaide Crows fan bought a Balfour’s pie at the Adelaide Oval and took a bite into it, only to find there was no meat.

While some took a cruel laugh at his expense when this fan put the photo on Balfour’s Facebook page, we agree with one poster in particular that it is the saddest thing we’ve ever seen.

Except maybe this…

https://www.instagram.com/p/BvkepIRHwH0/

But as the song Up There Cazaly goes “you work to earn a living” so it’s back to reality. Yet we’re sure many hope no one will suffer this misfortune of a meat-free meat pie this weekend.

Local markets are up in morning trade. In recent weeks, markets have fluctuated based on whatever comes from President Trump’s Twitter account or China Daily. It’s a long weekend in the US due to Memorial Day and Trump is in Japan playing golf with Shinzo Abe, although he will talk trade while he is there.

Meanwhile, the boss of China’s banking and insurance regulator, Guo Shuqing, reiterated China’s stance that escalating the trade war will hurt the world economy and bring no benefit to America.

In absence of any material changes to the trade war and positive results out of Europe (unless you’re the Prime Minister of Greece or trying to leave the bloc); the ASX Small Ords Index was up 16 points, or 0.57 per cent, to 2850 by 11:30am EST.

Here are the key ASX small cap movers at lunchtime on Monday May 27:

Going up

The biggest winner, up 114 per cent, was Rafaella Resources (ASX: RFR) which announced it was buying a Spanish tin and tungsten project.

While many other winners had nothing new to report, one company that caught our eye was recently-listed biotech Next Science (ASX: NXS). Since listing at $1 it’s now at $3.41.

The catalyst for this morning’s rise was the announcement it had found a distributor for its products, American-based Grace Medical.

Here are the best performing ASX small cap stocks at lunchtime, Monday May 27:

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

Going down

The biggest loser with news was biotech Immuron (ASX: IMC) which on Friday announced a capital raise.

Fellow biotech Genetic Technologies (ASX: GTG) also undertook a capital raise which took effect today.

Here are the worst performing ASX small cap stocks at lunchtime, Moday, May 27:

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

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