On 25th March 2020, the Australian market closed in green and the benchmark index S&P/ASX200 settled at 4998.1 with a rise of 262.4 points. S&P/ASX 200 Consumer Discretionary (Sector) inched up by 6.15% to 1,766.7 and S&P/ASX 200 Energy (Sector) gained 307.4 points and ended the session at 5,713.3. At the close of same day, All Ordinaries stood at 5006.2 with a rise of 252.9 points or 5.32%.
Some companies on the benchmark index have performed exceptionally well such as Afterpay Limited (ASX: APT), which closed at $15 per share reflecting a gain of 33.809%. On March 25, 2020, Qantas Airways Limited (ASX: QAN) rose by 26.255% to $3.270 per share.
Let us now look at the gainers and loser at NZX Main Board. Pacific Edge Limited (NZX: PEB) surged 35.71% and closed the session at NZ$0.095 per share. Serko Limited (NZX: SKO) went up by 35.00% to NZ$1.350 per share. On the other side, The Colonial Motor Company Limited (NZX: CMO) experienced a sharp fall of 15.62% and the stock settled at NZ$6.160.
Recently, we have written an article on some of the media companies of Australia with important information. To view, please click here.
Afterpay Limited Witnessed A Sharp Rise of 33.809%
Afterpay Limited (ASX: APT) recently stated that the world is currently experiencing significant challenges due to COVID-19 and APT has also been affected by the uncertainty arising from COVID-19. Due to its business model and high frequency purchasing and repayment rates, the average transaction values and average outstanding balances of the company are low with no material concentration in its portfolio from a merchant or customer perspective. The company is progressing with the execution of its strategic objectives and it will continue to communicate regularly with its retailers and customers. Afterpay Limited possesses strong liquidity position amounting to more than $672.1 million. This robust liquidity would help in financing its operating expenditure and will also assist in expanding its business activities over the medium term.
Qantas Airways Limited Ended in Green on ASX
Qantas Airways Limited (ASX: QAN) notified the market that it has wrapped up a new round of debt funding by securing additional liquidity of $1.05 billion to strengthen its position as it manages through the Coronavirus outbreak (COVID-19). This loan has a tenure of up to 10 years at an interest rate of 2.75%. This has resulted in an increase in cash balance of the company to $2.95 billion with an additional undrawn facility of $1 billion. As a result, its net debt position stood at $5.1 billion, which is the lower end of its guidance range with no major debt maturities until June 2021. In another update, the company announced that Antony Nigel Tyler has made change to holdings in the company by acquiring 52,000 ordinary shares at the consideration of $3.1 per ordinary share.
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