The performance of broader Australian equities is sensitive to the performance of global markets. If global growth comes into question, the Australian markets can witness the negative impact. We will now have a look at how S&P/ASX200 performed.
On 3rd April 2020, the equity market of Australia settled in red and the benchmark index S&P/ASX200 stood at 5067.5, reflecting a decline of 1.68%. S&P/ASX 200 Consumer Discretionary (Sector) went down by 4.22% to 1,866.4. S&P/ASX 200 Health Care (Sector) closed at 41,691.0 with a fall of 707.1 points. At the close of same trading session, All Ordinaries ended at 5106.9, indicating a fall of 81.8 points.
Let us now look at the performance of some companies which closed in green. Fortescue Metals Group Ltd (ASX: FMG) rose by 5.706% and ended at $10.560. NRW Holdings Limited (ASX: NWH) stood at 1.440 per share with a rise of 4.727%.
S&P/NZX50 gained 0.65% during the session and ended at 9,935. New Talisman Gold Mines Limited (NZX: NTL) soared 16.67% and settled at NZ$0.007. Serko Limited (NZX: SKO) moved up by 11.05% to NZ$2.110. Moa Group Limited (NZX: MOA) stood at NZ$0.141 with the gain of 11.02%. On the other side, Abano Healthcare Group Limited (NZX: ABA) experienced a sharp fall of 23.53% to NZ$1.170.
Recently, we have covered an article on Lithium Australia NL (ASX: LIT), which can be viewed by clicking here.
Fortescue Metals Group Ltd Ended in Green.
Fortescue Metals Group Ltd (ASX: FMG) notified the market that it has implemented several measures to mitigate the risks of COVID-19. These measures include arrangements to work from home for its team members. As per the top management, measures are taken to ensure that the company continues to operate safely, sustain its business, protect communities and maintain jobs. FMG possesses a strong balance sheet with liquidity of US$4.3 billion as at 31st December 2019. This comprises cash balance of US$3.3 billion and an amount of US$1 billion from the revolving credit facility. For FY20, it anticipates shipments to be at the upper end of its range of 170 Mt – 175 Mt.
NRW Holdings Limited Surged 4.727% on Australian Stock Exchange
NRW Holdings Limited (ASX: NWH) recently announced that Mitsubishi UFJ Financial Group, Inc. has ceased to become a substantial holder in the company. In another update, the company notified the market that Mining industry has been designated as an Essential Service, as its activities would be necessary in support of critical commodity supply. The company added that all operations throughout the group have implemented working practices in order to minimise the risks from COVID-19. Moreover, the interim dividend for 1H FY20, which was scheduled to be paid on 15th April 2020, will be deferred subject to review by the Board in August 2020.
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