Market Close Commentary; 6 July 2020

  • Jul 06, 2020 AEST
  • Team Kalkine

The Australian share market reflected a fluctuating pattern and ended in the red zone with benchmark index finishing at 6014.6, down by 0.71 per cent as compared to Friday's closure of 6057.9. All sectors ended in the red zone except for the IT sector.

On Thursday, the US reported over 55,000 new cases, the biggest number reported in any country in a single day. However, the US stock market ignored the number of cases, and the sentiments remained positive on the hope of global economic recovery.

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

  • Mesoblast Limited (ASX: MSB), which announced that an expanded access protocol (EAP) has been started in the US for the use of its allogeneic mesenchymal stem cell (MSC) product candidate remestemcel-L. It is being used for treating children who have Covid-19 along with other complications of the multisystem inflammatory syndrome (MIS-C) and cardiovascular disease.

MSB was up by 11.276 per cent when traded at AUD 3.750.

  • oOh!media Limited (ASX:OML) which was up by 9.29 per cent when traded at AUD 1.000.

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

  • Adbri Limited (ASX:ABC), whose performance remained the same today as well after being the worst-performing stock. It traded at AUD 2.190, down by 6.809 per cent. 
  • Bega Cheese Limited (ASX:BGA) which traded at AUD 4.660, down by 6.426 per cent.

See the graph below to view five best and worst-performing stocks on Thursday:

 


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Key Players in the sector Althea Group Holdings Limited (ASX: AGH) and Cann Group Limited (ASX: CAN) are amongst the top players. Other Australia cannabis market players are- MGC Pharmaceuticals Ltd (ASX: MXC), Elixinol Global Limited (ASX: EXL), THC Global Group Limited (ASX: THC), AusCann Group Holdings Limited (ASX: AC8)

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