ASX Small Cap Lunch Wrap: Who is putting bank robbers out of business today?

A cashless society has many advantages. That is, you can walk past the street performer with the line “Sorry, no change.”

You can also shake your head firmly at people trying to wash your windshield at a traffic light, or you can safely pass in front of a charity collector…a car seat.

But an unexpected advantage for Denmark is Bank robbery basically stopped.

Thanks to the Covid-19 pandemic, only 20 banks in the country still hold cash, making it look dirtier than before.

In 2000 there were 221 bank robberies, and in 2004 that number dropped to 121. before dropping to 1 in 2021 and 0 last year.

There were also no attacks on Danish ATM machines for the second year in a row. This is probably because financial crime has moved online. Increase in digital fraud.

In cashless Denmark, bank robberies are becoming a thing of the past @CHRWIENBERG pic.twitter.com/sxWccZu0l9

— Stuart Wallace (@StuartLWallace) January 4, 2023

It also has the added benefit of having to deal with PTSD from a bank employee being held at gunpoint.

“It’s nothing short of amazing, because every time it happens, it puts an extreme strain on the employees involved.” Steen Lund Olsen, Deputy Chairman of Finansforbundet Financial Trade Union, said:

“You can’t even begin to understand its emotional impact until you’ve experienced it yourself.”

to the market

The ASX 200 is up 0.12% at lunch today, with 7 of 11 sectors green.

Consumer Discretionary led the winner, up 0.65%, followed by Telecom Services and Industry, up 0.55% and 0.54% respectively.

Wesfarmers (ASX:WES) was up 0.60%, Aristocrat Leisure (ASX:ALL) was up 0.43% and The Lottery Corp (ASX:TLC) was also up 0.43%.

On the small-cap side of town, Kogan (ASX:KGN), everyone’s favorite “great deal for BBQ” website, rose 3.11%, while Myer (ASX:MYR) was clearly still a brick. and exist in the form of mortar. It rose only 1.09%.

Energy led the lagging sector, down 1.41%. This is likely due to the global benchmark Brent crude dropping about 9% this week to $77.95 a barrel.

not ASX

European stocks rose yesterday as investors cheered on Germany’s better-than-expected drop in inflation last month, aided by government moves to ease pressure on consumers from higher gas prices. did.

The European-wide Stoxx Europe 600 and the UK FTSE 100 were both up more than 1%, the French CAC 40 was up 0.4% and the German DAX was up 0.8%.

“Lower oil and gasoline prices and the government’s first phase of capping gas prices pushed down headline inflation in December,” ING analysts said in a note.

“Nevertheless, at current levels, inflation remains a major concern in 2023.”

William De Vilder, group chief economist at BNP Paribas, said both the US and the eurozone should spend part of the year in recession, which is expected to be short and shallow, but that energy prices will return He said the contraction could be bigger if it rises or if inflation doesn’t come down much. more than I thought.

In the US, the S&P 500 rose 0.1% in afternoon trading while the Dow Jones Industrial Average fell 0.1%. The technology-focused Nasdaq Composite was flat.

The latest economic data fueled fears of a looming recession and manufacturing activity plunged to its lowest level since May 2020.

Meanwhile, China’s move to ease tough Covid-19 rules could help the global economy ease from a more severe slowdown, investors say, though it’s unclear to what extent. is.

ASX Small Cap Winners

Here are the best performing ASX small caps on Jan. 5: [intraday]:

Swipe or scroll to see the entire table. Click a heading to sort:

Lindian Resources (ASX:LIN) today reported “excellent” high-grade rare earth analysis at the Kangankunde Rare Earth Project in Malawi. This includes 12 meters at 4.2% TREO from the surface of drilled hole KGKRC00.

According to LIN, both holes have very high rare-earth grade mineralization and are widely intersected by non-radioactive material along the entire length of the holes, making NdPr an important battery for use in electric vehicles and wind turbines. Contains most of the metallic elements.

“These initial assay results have been absolutely excellent in terms of grade, distribution and continuity, and the steady stream of subsequent assays will provide more of the same results, with Kangankunde rapidly emerging in 2023.” We are confident that we can build a case for a rare earth project of global significance in terms of grade, scale and non-radioactivity,” said CEO Alistair Stephens.

“Today’s results should be taken as a major indicator of this. I do not know anywhere else in the world that there is a deposit showing such a high grade of rare earth mineralization at such a depth and over a continuous length.” don’t know.

“Added to this is the non-radioactive nature of the Kangankunde rare earth mineralization. This is a very unique and commercially very advantageous property that allows us to find anywhere in the world where concentrate from Kangankunde can be found without Class 7 restrictions. It may still be shipped.

“The commercial significance of this cannot be underestimated.”

The hole will end with mineralization and will be further extended with core drilling later in the program.

The company also expects to deliver exploration targets and first mineral resource estimates in the second quarter of CY2023.

When Saidev (ASX:SDV) signed a three-year chemical service contract with Iluka Resources’ (ASX:ILU) Caterby Mineral Sands Mine in Washington State.

SciDev’s chemistries are utilized in the treatment of tailings at mining sites to help maximize water recovery while minimizing the tailings footprint.

The deal is expected to generate around A$14 million and sales are expected to start in March 2023.

ASX small cap loser

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