Market Close Commentary; 24 June 2020 

  • Jun 24, 2020 AEST
  • Team Kalkine

Today, the market struggled for direction despite the gain in the global market. The benchmark index S&P/ASX200 continued the fluctuating trend and finished at 5965.7, up by 0.19 per cent as opposed to yesterday's closure of 5954.4.

Yesterday's US-Sino trade deal doubt is over, and global stocks recovered after Trump assured that the deal is still on. The US is struggling with new virus cases. However, the technology and consumer-oriented stocks drove the market up with Apple closing at a record 2.13 per cent.

The US' top infectious disease expert, Dr Anthony Fauci has warned about the disturbing surge in COVID-19 infected cases in the next couple of weeks, but he also hinted towards a possible vaccine development by the end of 2020 or at the beginning of 2021.

As per the latest release by Council of Financial Regulators, financial institutions are playing and shall continue to play a significant role in the economic recovery. Members have agreed that the financial institutions, governments and regulators shall continue to show flexibility for the recovery phase.

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

  • Perseus Mining Limited (ASX:PRU),up by 7.113 per cent when traded at AUD 1.280, and  
  • Evolution Mining Limited (ASX:EVN) which was up by 6.654 per cent when traded at AUD 5.610.

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

  • Viva Energy Group Limited (ASX:VEA) which traded at AUD 1.850, down by 3.646 per cent, and
  • Lynas Corporation Limited (ASX: LYC) which traded at AUD 1.960, down by 3.448 per cent.

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

 

 


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