Market Update: Australian Markets Ended in Green: What You Need to Know           

  • Mar 26, 2020 AEDT
  • Team Kalkine
Market Update: Australian Markets Ended in Green: What You Need to Know           

It can be said that performance of global stock markets influence the performance of Australian equity markets. If global growth comes into question, Australian investors might decide to liquidate their holdings in equities which could negatively impact the broader market. However, on March 26, 2020, S&P/ASX200 ended the session in green as there was an increase of 2.30% on an intraday basis to 5113.3. On the same day, All Ordinaries went up by 2.58% or 129 points on an intraday basis to 5135.2.

We would now have a look at the performance of some individual stocks. On March 26, 2020, EML Payments Limited (ASX: EML) rose by 32.872% on an intraday basis to end at A$1.920 per share. On the same day, Afterpay Limited (ASX: APT) also witnessed an increase of 29.4% and was closed at A$19.410 per share. However, Northern Star Resources (ASX: NST) witnessed a decline of 15.037% on an intraday basis to A$11.470 per share.

At NZX Main Board, Geo Limited (NZX: GEO) rose by 54.17% to end at NZ$0.037 per share while Serko Limited (NZX: SKO) went up by 48.15% on an intraday basis to end at NZ$2.000 per share. On the other hand, Metlifecare Limited (NZX: MET) fell by 21.53% and was closed at NZ$3.790 per share.

Bapcor Withdraws Guidance for FY 2020

Bapcor Limited (ASX: BAP) recently stated that, since January 1, 2020, its businesses are performing in line with the anticipations and they are on track to reach the full year guidance. The sales in core Burson trade segment continued to be robust, retail segment has been achieving good sales growth and trends of 1H of the year are continuing in other business segments.

As per the release dated March 24, 2020, with the announcement about business closures in NZ, Thailand and Australia as well as uncertain circumstances arising because of Covid-19, the company thought that it is not possible to forecast where FY 2020 would finish. Thus, it considered appropriate to withdraw the previously announced earnings guidance for FY 2020.

Notably, on March 26, 2020, BAP ended the session by rising 22.222% on an intraday basis to close at A$3.850 per share.

GEM Ended in Green on ASX

G8 Education Limited (ASX: GEM) recently released its FY 2019 full-year results which reflect solid progress with regards to operational objectives and validation of the growth strategy amidst challenging industry conditions. During the period, the company completed the restructuring of its balance sheet that included repayment of SGD 270 million in bonds financed by the new syndicated debt facilities.

On March 26, 2020, the stock price of GEM rose by 22.034% on an intraday basis and was closed at NZ$0.720 per share.

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