ASX Small Caps Lunch Wrap: Who got slapped by the regulator today?

The Brisbane lockdown will officially end at noon today, after only one new case was found in Queensland since last Thursday.

ASIC has finally banned trading in binary options for retail investors, after a study found that 80 per cent of retail clients lost money trading in the options. Binary options offer a win-all or lose-all proposition for investors.

To markets, the ASX200 gave up early gains, and ended the morning session just 0.31 per cent higher.

This comes even after President Biden’s speech today, where he proposed hiking the US corporate tax to 28 per cent from the current 21 per cent, to pay for the US$2.3 trillion infrastructure package.

Resources, construction, and IT led the the pack today, with Boral (ASX:BLD) the large cap winner, rising by 6 per cent after announcing the sale of its 50 per cent stake in USG Boral.

Financials were weighed down by news that Macquarie Bank (ASX:MQG) was told to hold $500 million in extra capital by regulator APRA for past breaches that has “raised questions about its risk management”. Macquarie fell by 1 per cent after the news.

However, shares in AMP (ASX:AMP) rose by 4.5 per cent after  CEO Francesco De Ferrari resigned from his role, paving the way for ANZ deputy chief Alexis George to step in.

The IT sector was led by Afterpay (ASX:APT) and Xero (ASX:XRO), who each rose more than 2 per cent, following a surge in tech heavy NASDAQ index overnight.

WINNERS

Here are the best performing ASX small cap stocks at 12pm Thursday April 1:

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

Miner Classic Min (ASX:CLZ) was the winner out of small caps today, with its share price rising by 50 per cent with no announcements.

Red Sky Energy (ASX:ROG) and Vanadium Resources (ASX:VR8) round up the top three small caps, rising by 44 per cent and 35 per cent respectively.

  Red Sky has been rising by over 200 per cent over the last five days, with no major announcements issued by the company. This has prompted the ASX to issue it a speeding ticket, which has been responded to by the company. 

Other small cap winners today include biotech Zoono (ASX:ZNO), up by 40 per cent after its Microbe Shield successfully tested in the USA against Human Coronavirus 229E.

Fintech Douugh (ASX:DOU), was another winner, rising by 13 per cent after announcing that it has obtained a licence from the US SEC to carry out wealth management services in the US.

 

LOSERS

Here are the worst performing ASX small cap stocks at 12pm Thursday April 1:

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


The post ASX Small Caps Lunch Wrap: Who got slapped by the regulator today? appeared first on Stockhead.

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