Lunchtime ASX small cap wrap: Who’s tipped to be a winner today?

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In a few hours time 24 horses will compete for the Melbourne Cup and millions of Australians will be watching – or perhaps just taking a day off work.

The favourite is Chris Waller-trained Finche. Waller has been represented in 18 cups before and the closest he has got is 3rd.

The lengths we have to go to around here to get a horses attention. 😂 #LoveTheHorse #MelbourneCup #Finche @CRDuckworth @7horseracing @Racing pic.twitter.com/Cxo3a8GzWR

— Chris Waller Racing (@cwallerracing) November 3, 2019

As the nation awaits the race it has been a quiet day on the markets. The ASX Small Ords is down 0.03 per cent to 2,919 points and the ASX 200 is down 0.05 per cent to 6,684 points.

In economic data today, ANZ-Roy Morgan Consumer Confidence rose 2.8 per cent this week. This was mainly due to consumers being more confident about future economic conditions which had dragged the index for some months.

Also today is the Reserve Bank’s monthly meeting today and it is expected to keep interest rates on hold at 0.75 per cent.

Going up

Kibaran Resources (ASX:KNL) rose 21 per cent this morning with news test work was being undertaken as part of pre-development activities for its proposed battery manufacturing plant.

After plunging last week due to a poor quarterly, Building IQ (ASX:BIQ) recovered 13 per cent today.

Here are the best performing ASX small cap stocks at lunchtime, Tuesday November 5:

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

Going down

Rimfire Pacific Mining (ASX:RIM) fell 17 per cent after its latest exploration update.

Here are the worst performing ASX small cap stocks at lunchtime, Tuesday November 5:

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

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