Market Close Commentary; 12 June 2020 Market Close Commentary; 12 June 2020

  • Jun 12, 2020 AEST
  • Team Kalkine

The Australian stock market remained gloomy today and continued yesterday's pattern of a downturn, with benchmark index S&P/ASX200 finishing at 5847.8, down by 1.89 per cent when compared to previous day's closure of 5960.6. 

Similar to yesterday, all sectors ended in the red zone. The market tumbled after the comment by Federal Reserve Chairman Jerome Powell that the US economy will take a long time to recover again irrespective of its surprising jobless report for May.

The uncertainties created due to the COVID-19 pandemic continue to create havoc with the world economy. 

The best and worst-performing stocks for today's market are:

  • Seven Group Holdings Limited (ASX:SVW), up by 1.999 per cent and closed trading at AUD 17.350, and
  • TPG Telecom Limited (ASX:TPM) which was up by 1.863 per cent and traded at AUD 8.200.

The worst-performing stocks for today were –

  • Platinum Asset Investment Management Limited (ASX:PTM) which traded at AUD 3.520, down by 11.779 per cent, and
  • oOh!media Limited (ASX:OML) which traded at AUD 1.010, down by 9.821 per cent.

Let's see the graph below to view the top five best and worst-performing stocks today: 

 


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There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.

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