Market Update: Australian Equity Markets Ended in Green on 6th April 2020.

  • Apr 06, 2020 AEST
  • Team Kalkine
Market Update: Australian Equity Markets Ended in Green on 6th April 2020.

At the close of trading session on 6th April 2020, the equity market of Australia was in green. S&P/ASX200 rose by 4.33% to 5286.8. Most of the sectors closed in green like S&P/ASX 200 Energy (Sector), which gained 384.5 points and closed at 6,749.7. S&P/ASX 200 Industrials (Sector) ended at 4,951.8, indicating a rise of 2.3%. All Ordinaries closed at 5323.6 with the gain of 4.24% at the end of same session.

 

Let us now look at the performance of some companies, which settled in green such as Corporate Travel Management Limited (ASX: CTD), which moved up by 16.709% to $9.220 per share. Pilbara Minerals Limited (ASX: PLS) closed at $0.245, indicating an increase of 16.667%. HUB24 Limited (ASX: HUB) soared 16.447% and closed at $9.700.

 

S&P/NZX50 closed at 9,764 with fall of 1.72% at the end of session on 6th April 2020. Burger Fuel Group Limited (NZX: BFG) surged 14.10% to NZ$0.445. Pacific Edge Limited (NZX: PEB) went up by 11.76% and settled at NZ$$0.095. On the other side, SeaDragon Limited (NZX: SEA) plunged by 37.50% and stood at NZ$0.125.

 

Recently, we have written an article on Lithium Australia NL (ASX: LIT) and the readers can click here to read the article.

Corporate Travel Management Limited Ended in Green on 6th April 2020

Corporate Travel Management Limited (ASX: CTD) recently announced that Invesco Australia Limited has made a change to their substantial holdings in CTD. The current voting power of Invesco Australia Limited stands at 10.95% against previous voting power of 9.89%. In another update, the company stated that introduction of government-imposed restrictions on international travel and major reductions in domestic capacity as a response to COVID-19 impacted the business significantly. However, the company is in a robust liquidity position. CTD has committed debt facility amounting to $250 million, which will mature in August 2022. Due to uncertainties arising from COVID-19, the company has deferred its interim dividend payment till 2nd October 2020.

 

Pilbara Minerals Limited Rose 16.667% on Australian Stock Exchange

Pilbara Minerals Limited (ASX: PLS) has notified the market with an operational update for March 2020 quarter. The company stated that its moderated production strategy resulted in continued plant recovery improvements and unit cost reductions, which resulted into strong cash position of A$108.2 million as compared to A$105.5 million of December 2019 quarter. During the period, it shipped 33,893 dry metric tonnes (dmt) of spodumene concentrate product and sold 33,998 lbs of tantalite concentrate. Moreover, it witnessed strong improvement in product recovery trend, which contributed to lower operating cost. Pilbara Minerals Limited also signed a 5-year offtake agreement with Yibin Tianyi for 75,000tpa of high quality spodumene concentrate from the Planform Project.  As of now, no material impact has been experienced by PLS on its Pilgangoora operations from COVID-19 situation.

 


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