$69 postpage LB

Market Close Commentary; 21 April 2020

  • April 21, 2020 05:01 PM AEST
  • Team Kalkine

By the end of the day’s trade on 21 April 2020 the sectors on ASX closed in the red zone and most of them dropped by more than 2%.

Gold MTF non-AMP

Benchmark index S&P/ASX 200 dropped by 2.46% and settled at 5,221.3, influenced by the economic and financial update provided by the Reserve Bank of Australia. Governor Philip Lowe highlighted on the immediate outlook of the economy as well as nature and speed of the recovery.

He pointed that national output would drop by ~10% 1H 2020 and most of this decline taking place in the June quarter. There might be a drop in the total hours worked in Australia by 20% over the 1H 2020 and unemployment is projected to be approx. 20% by June 2020.

Emerging companies, Information Technology, All Technology Indices were the worst performers for the day as the sectors dropped by more than 4%.

Let us look at the best and worst performing stocks for the day.

 


Disclaimer
The website https://kalkinemedia.com/au is a service of Kalkine Media Pty. Ltd. (Kalkine Media) A.C.N. 629 651 672. The principal purpose of the content on this website is to provide factual information only and does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stock of the company (or companies) or engage in any investment activity under discussion. We are neither licensed nor qualified to provide investment advice through this platform. In providing you with the content on this website, we have not considered your objectives, financial situation or needs. You should make your own enquiries and obtain your own independent advice prior to making any financial decisions.
Some of the images that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed on this website unless stated otherwise. The images that may be used on this website are taken from various sources on the web and are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it below the image. The information provided on the website is in good faith, however Kalkine Media does not make any representation or warranty regarding the content, accuracy, or use of the content on the website.

 

   
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK