Market Close Commentary; 2 June 2020 

  • Jun 02, 2020 AEST
  • Team Kalkine

Today, the market kept fluctuating between red and green zone, perfectly reflecting the uncertain conditions around and ended at 5835.1, up by 0.27 per cent as compared to Monday's closure of 5,819.2.

The global economy, including the Australian economy, is going through a very tough period due to the unprecedented Covid-19 crisis. However, economy reopening is bringing some hope to the market.

Further, RBA, in a board meeting today has determined to preserve the targets for the cash rate and the yield of 25 basis points on 3-year government bonds. Moreover, the US is still facing the violent protest in major cities following the killing of George Floyd in police custody. US-China tension continues with China ordering the halt of American farm produce purchases.

The top 2 gainers for today were-

  • Perenti Global Limited (ASX:PRN) which traded at AUD 1.400, up by 13.36 per cent, and
  • Domain Holdings Australia Limited (ASX:DHG) which last traded at AUD 3.320, up by 9.934 per cent. 

The worst-performing stocks were - 

  • Avita Medical Limited (ASX:AVH) which traded at AUD 0.470, down by 4.082 per cent and
  • Austal Limited (ASX:ASB) which traded at AUD 3.530, down by 3.288 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.

Are you wondering if the year 2020 might not have taken the right start? Dividend stocks could be the answer to that question.

As interest rates in Australia are already at record low levels, find out which dividend stocks are viewed as the most attractive investment opportunity in the current scenario in our report.

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