ASX Small Cap Lunch Wrap: Reality defying S&P 500 flirts with record high

Yesterday, the S&P 500 index briefly surpassed its record high closing level from February 19, just before COVID-19 sparked one of the most dramatic crashes in Wall Street history.

The S&P 500 index, which includes 500 of the largest US publicly traded companies, has clawed is way back quickly over the past few months.

It reached as high as 3,387.89 points yesterday, which is just below its intraday record of 3,393.52, also set on February 19.

S&P 500 performance year to date.

Other markets, including our own, have also bounced back since those late March lows – just not as enthusiastically.

The ASX 200 Index, for example, is up ~35 per cent from late March but remains 17 per cent shy of its February high of ~7,162 points.

This is despite the US economy — and most others — now being in a much worse position than during the GFC.

“Data last week showed the [US] economy had regained only 9.3 million of the 22 million jobs lost between February and April, indicating a long road to reach pre-pandemic levels,” Morningstar analysts say.

Australia’s Reserve Bank is also warning that our economic recovery will be slow and hard.

“[And yet] stock markets globally have rallied this week on improving data from China and Europe, signs of progress in developing a COVID-19 vaccine and expectations of fresh US stimulus,” Morningstar says.

 

SMALL CAP WINNERS

Here are the best performing ASX small cap stocks at 12pm Friday August 14:

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

CODE COMPANY PRICE CHANGE MARKET CAP
MIO Macarthur Minerals 0.45 60.71% $29.2M
CLZ Classic Minerals 0.003 50.00% $23.9M
MSB Mesoblast 4.65 37.57% $2.0B
EMD Emerald Clinics 0.07 22.95% $11.2M
AOA Ausmon Resources 0.005 25.00% $2.5M
ENX Enegex 0.025 25.00% $2.0M
3PL 3P Learning 1.34 22.37% $186.9M
LRS Latin Resources 0.011 22.22% $7.7M
AQI Alicanto Minerals 0.175 20.69% $45.6M
CAD Caeneus Minerals 0.006 20.00% $21.0M
TSC Twenty Seven Co. 0.006 20.00% $9.0M
CHK Cohiba Minerals 0.013 18.18% $11.6M
RDH Redhill Education 0.54 17.39% $27.5M
IDZ Indoor Skydive AUS Group 0.007 16.67% $2.4M
AZI Alta Zinc 0.007 16.67% $19.3M
CZN Corazon Mining 0.0035 16.67% $9.8M
RIM Rimfire Pacific Mining 0.007 16.67% $11.1M
POD Podium Minerals 0.06 15.38% $13.5M
AAJ Aruma Resources 0.008 14.29% $8.0M
HIL Hills 0.18 12.50% $40.6M

 

Biotech Emerald Clinics (ASX:EMD) has flagged a name change to ‘Emyria’ as part of a move into global markets.

July was a record month for the company’s clinical services in Australia, Emerald says, which  jumped earlier this week after signing a contract with the UK arm of pot giant Canopy Growth.

Pharma stock Mesoblast (ASX:MSB) says the Oncologic Drugs Advisory Committee (ODAC) of the US Food and Drug Administration (FDA) has voted “overwhelmingly in favour” that available data supports the efficacy of the company’s RYONCIL drug.

Educational software stock 3P Learning (ASX:3PL) jumped on an all-cash takeover offer from IXL Learning, done at a 32.3 per cent premium to the one-month volume average weighted price of shares.

 

SMALL CAP LOSERS

Here are the worst performing ASX small cap stocks at 12pm Friday August 14:

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

CODE COMPANY PRICE CHANGE MARKET CAP
PNN Pepinnini Minerals 0.001 -50.00% $3.3M
ECT Environmental Clean Technologies 0.001 -33.33% $9.6M
BAS Bass Strait Oil 0.001 -33.33% $3.3M
XTC Xantippe Resources 0.002 -33.33% $12.2M
MAR Malachite Resources 0.036 -29.41% $4.3M
CXU Cauldron Energy 0.023 -20.69% $10.9M
GMV G Medical Innovations 0.041 -19.61% $36.4M
SOP Synertec 0.05 -18.03% $16.9M
EPM Eclipse Metals 0.006 -14.29% $9.9M
WBE Whitebark Energy 0.003 -14.29% $12.1M
GSM Golden State Mining 0.33 -14.29% $21.6M
AMO Ambertech 0.085 -14.14% $7.8M
MMI Metro Mining 0.077 -13.48% $123.6M
TMG Trigg Mining 0.1 -12.50% $7.0M
ASP Aspermont 0.007 -12.50% $18.2M
SPQ Superior Resources 0.007 -12.50% $9.1M
RMP Red Emperor Resources 0.008 -11.11% $4.7M
WNB Wellness Beauty Solutions 0.008 -11.11% $11.6M
CL8 Collaborate Corporation 0.008 -11.11% $10.4M
PRM Prominence Energy 0.008 -11.11% $2.2M


The post ASX Small Cap Lunch Wrap: Reality defying S&P 500 flirts with record high appeared first on Stockhead.

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