Market Update: Understanding the Performance of Markets on 20th May 2020

  • May 20, 2020 AEST
  • Team Kalkine
Market Update: Understanding the Performance of Markets on 20th May 2020

The equity market of Australia ended in green on 20th May 2020 and the benchmark index S&P/ASX200 stood at 5573 with a rise of 13.5 points or 0.24% on an intraday basis. S&P/ASX 200 Consumer Discretionary (Sector) went up by 19.4 points to 2,243.7. S&P/ASX 200 Information Technology (Sector) witnessed an increase of 2.17% and ended at 1,422.3. All Ordinaries inched up by 21.3 points and settled the trading session at 5680.1.

On ASX, EML Payments Limited (ASX: EML) inched up by 12.766% to $3.710 per share. Pilbara Minerals Limited (ASX: PLS) zoomed up to 10.417% and closed at $0.265 per share. Costa Group Holdings Limited (ASX: CGC) stood at $3.190, reflecting a rise of 9.622%.

S&P/NZX50 stood at 10,788, indicating a fall of 0.02% at the end of the session on 20th May 2020. Cooks Global Foods Limited (NZX: CGF) surged 13.21% and ended at NZ$0.060 per share. ikeGPS Group Limited (NZX: IKE) moved up by 10.14% to NZ$0.760. On the other hand, Comvita Limited (NZX: CVT) experienced a sharp fall of 4.55% to NZ$4.200.

Recently, we have covered some important information on Kaiser Reef Ltd (ASX:KAU), and the readers can have a look at the article by clicking here.

EML Payments Limited Rose 12.766% on Australian Stock Exchange

EML Payments Limited (ASX: EML) has recently notified the market with the trading update, wherein, it stated that the company has a long-term strategy to deliver revenue and earnings diversification via organic growth and strategic acquisitions. For the 9 months ended 31st March 2020, the gross Debit Volume (GDV) of the company stood at $9.83 billion, reflecting a rise of 55% against pcp. The revenue for the same period amounted to $87.1 million with an increase of 20% over pcp. During the month of March 2020, the G&I segment witnessed the impacts of Covid-19 in some regions. In another update, the company announced that Challenger Limited and its entities have made change to their substantial holdings with the current voting power of 6.43% as compared to the previous voting power of 7.54%. 

Costa Group Holdings Limited Ended in Green on 20th May 2020

Costa Group Holdings Limited (ASX: CGC) recently announced that ECP Asset Management Pty Ltd and its associated entities have ceased to become the substantial holder. The company has appointed Wayne Johnston as Chief Financial Officer of CGC, which will be effective from 29th June 2020. Mr Wayne has handsome experience from leading finance functions in numerous ASX-listed companies. In response to COVID-19, the company stated that the food supply has been designated as essential service within Australia as well as the other countries in which the company operates. The company possesses a strong balance sheet, cashflow and liquidity position. Considering the high level of uncertainty and volatility in the social and economic environment caused by COVID-19, the company has suspended its earnings guidance for FY20. 

 


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