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Market Close Commentary; 22 April 2020

  • April 22, 2020 05:29 PM AEST
  • Team Kalkine

The S&P/ASX 200 recovered from the falls recorded at the beginning of trading session today, closing just 0.1 point off from the previous close at 5,221.2 points.

Beleaguered airlines, Virgin Australia (ASX:VAH) saw additional downgrades from the credit rating agencies in the face of entering administration, reports suggest that potential buyers are undertaking due diligence.

Travel stocks continued to extended losses as fate of Virgin Australian is still haunting travel industry. Meanwhile, Myer Holdings (ASX:MYR) is set to miss Mother’s Day trading as stores closures were extended until 11th May.

As per reports, Credit Suisse affirmed its positive outlook on Dexus Property (ASX:DXS), Morgan Stanley revealed its high conviction in Perpetual Limited (ASX:PPT), while Gold Road Resources (ASX:GOR) was downgraded at Macquarie.

After market close, Lynas Corporation (ASX:LYC) reported that it was awarded with a contract by the US Department of Defence.

Major Banks’ stocks ended today’s session in green zone, after two consecutive days of losses. Headline makers in the S&P/ASX 200 today:

Source: ASX

Gold MTF non-AMP


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