Market Close Commentary; 02 November 2020

  • November 02, 2020 08:15 PM AEDT
  • Team Kalkine
    Team Kalkine
    Team Kalkine
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    Team Kalkine comprises of experts who understand various markets nuances and are enthusiastic and passionate to provide best possible offerings in the form of insights and stories. The team has rich experience of working across different markets with...

The Australian stock market opened for the week on a positive note by adding 23.70 points when the benchmark index S&P/ASX200 settled at 5951.30 points, up by 0.40 per cent as compared to Friday's closure of 5927.60 points. The trending stocks for Monday were - Westpac Banking Corporation (ASX: WBC), CSR Limited (ASX:CSR), and BPH Energy Limited (ASX:BPH).

On 30 October 2020, Wall Street witnessed a gloomy trading session where all the major indices lost many points. The Nasdaq Composite was down by 2.45 per cent; Dow Industrials declined by 0.59 per cent, and S&P 500 fell by 1.21 per cent.

The commodity section on Monday (02 November 2020) at AEDT 07:27 PM, the crude oil declined by 4.25 per cent and was trading at USD 34.27 a barrel. The gold commodity minimally surged by 0.12 per cent and was trading at USD 1,881.26. 

The Australian dollar fell by 0.43 per cent and was trading at AUD 0.6995 and bitcoin also fell by 0.72 per cent and traded at AUD 19,588.4

The stocks that surged the maximum during Monday (02 November 2020) are:  

  • AMP Limited (ASX:AMPonce again gained the most point today. It closed at AUD 1.680 and was up by 9.803 per cent. As announced previously, AMP had received an indicative, non-binding, conditional proposal from a US-based firm, Ares Management Corporation, to acquire hundred per cent of the shares in AMP Limited. A further update confirms Ares' proposal is at an implied value of AUD 1.85 per AMP share; however, there is no guarantee that a transaction will eventuate and no certainty with regards to price.
  • CSR Limited (ASX: CSRwas at the second-top position. It closed at AUD 4.660 and was up by 5.668 per cent. 

The stocks that dipped the most during Monday (02 November 2020) trading session are:

  • AVITA Therapeutics, Inc. (ASX:AVH)  closed at AUD 5.630 and was dipped by 5.060 per cent. 
  • PolyNovo Limited (ASX:PNV) closed at AUD 2.480 and declined by 4.616 per cent.

To look at the top 5 best and worst-performing stocks of Monday's trading session, see the graph below. 

 

 


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