Like many nations, Australia’s financial system is struggling by way of a pandemic-related provide chain crunch.

With Omicron off the leash throughout the east coast capitals, a number of industries are experiencing various variations of logistics hell.

To ease the burden, Prime Minister Scott Morrison hatched a brand new concept; permit youngsters beneath 18 to drive forklifts.

ScoMo subsequently backed down after the premise was met with a swift rebuke.

However not earlier than the story bought large media consideration, offering us with a prism to contribute by means of this basic scene which opened the UK collection of The Workplace:

Word to all Aussie youngsters: your forklift desires would possibly nonetheless stand an opportunity, so long as the person who provides the forklift drivers take a look at ‘is a private buddy’ of your boss. (Ed be aware: Don’t apply for a faux licence).

To markets, and US shares bought battered once more in a single day as traders proceed to reposition for the prospect of tighter monetary circumstances, following a two-year COVID-19 liquidity dump.

In flip, native shares are getting a significant clip ’around the ears to finish the week. The ASX 200 is down greater than 1% in noon commerce, whereas the microcap Rising Firms index is ~3% decrease — on monitor for its largest fall since early December.

BNPL shares are getting offered off once more, however the principle drag was a giant reversal in power and assets shares, which partially reversed a robust latest profitable streak with sharp falls on Friday.

Different threat belongings are additionally beneath strain, with an analogous sea of purple in crypto markets as Bitcoin again looks to hold above the US$40,000 level in Asian commerce.

ASX SMALL CAP WINNERS

Listed here are one of the best performing ASX small cap shares for January 21 [intraday]:

Swipe or scroll to disclose full desk. Click on headings to type:

VR/AR based mostly leisure firm XReality Group (ASX:XRG) — previously Indoor SkyDiving Australia — was one in all few shares to outperform, leaping again in direction of its latest highs close to 7c after saying the appointment of John
Diddams as chairman.

Diddams returns to the corporate after beforehand serving as a director and helping with its 2013 IPO. He additionally sits on the board of two different firms — Volpara Health Technologies (ASX:VHT) and Aroa Biosurgery Limited (ASX:ARX).

Amongst junior explorers, Alderan Resources Limited (ASX:AL8) posted a morning achieve of as a lot as 10% after advising {that a} UAV (drone) magnetic survey carried out by a Rio Tinto subsidiary had recognized three new targets at Alderan’s Frisco mission in Utah, USA.

Key exploration targets on the web site are “porphyry copper-gold-molybdenum deposits, and high-grade copper deposits related to recognized breccias resembling Cactus”, AL8 mentioned.

ASX SMALL CAP LOSERS

Listed here are the worst performing ASX small cap shares for January 21 [intraday]:

Swipe or scroll to disclose full desk. Click on headings to type:

Among the many laggards, Orexplore Technologies (ASX:OXT) fell sharply on debut, after elevating $2.5m at 25c a share in its IPO.

Elsewhere, iron ore play Fenix Resources (ASX:FEX) fell following the discharge of its quarterly 4C submitting, the place it booked internet working money outflows of greater than $11m on money receipts of ~$34m.

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