The equity market of Australia closed in green at the end of the session on 29th April 2020. The benchmark index S&P/ASX200 moved up by 1.51% to 5393.4. The index has gained 3.30% over the last five days. Most of the sectors on ASX closed in green such as S&P/ASX 200 Information Technology (Sector), which went up by 9.3 points to 1,233.7. S&P/ASX 200 Consumer Discretionary (Sector) settled at 2,110.6, reflecting an increase of 2%. At the end of the same day, All Ordinaries closed at 5463.8, up by 82.6 points.
Let us now look at the performance of some companies, which ended in green. Crown Resorts Limited (ASX: CWN) rose by 10.93% to $9.540 per share. Corporate Travel Management Limited (ASX: CTD) closed at $11.050, indicating a rise of 10.5% on an intraday basis.
S&P/NZX50 experienced a fall of 0.87% and stood at 10,666. SkyCity Entertainment Group Limited (NZX: SKC) gained 9.69% to NZ$2.490 per share. SeaDragon Limited (NZX: SEA) soared 7.50% and ended at NZ$0.043. When it comes to losers, Fisher & Paykel Healthcare Corporation Limited (NZX: FPH) went down by 4.33% to NZ$28.070.
Recently, we have written an article on Perpetual Resources Limited (ASX: PEC), which can be read by clicking here.
Crown Resorts Limited went up by 10.93% on Australian Stock Exchange
Crown Resorts Limited (ASX: CWN) has recently stated that The Blackstone Group Inc. and its affiliates have acquired 67,675,000 shares from Melco Resorts & Entertainment Limited for a price of $8.15 per share. This reflects 9.99% of the issued capital of CWN. The company has entered new bilateral facilities of $560 million with relationship banks and has also agreed on terms with three relationship banks to boost the construction work of Crown Sydney. However, this facility is subject to final credit approvals and long form documentation. The company is in a strong financial position with the cash balance of around $500 million along with its ability to secure more than $1 billion in additional debt facilities.
The Star Entertainment Group Limited Ended in Green on 29th April 2020
The Star Entertainment Group Limited (ASX: SGR) recently announced that Gerard Bradley made a change in the holding by acquiring 15,000 ordinary shares for a consideration of $35,056.50. SGR is likely to have an impact on its business due to shut down of its properties. The company is undertaking action to cement its balance sheet and preserve liquidity in exceptional circumstances. These measures include (1) strengthening the liquidity position by executing $200 million debt facility with relationship banks, (2) reduction in operating costs and capital expenditure, and (3) agreement for waiver of debt covenants. SGR has available cash and undrawn debt facilities amounting to around $700 million, including debt facility of $200 million. The company has also deferred its 1H FY20 interim dividend of 10.5 cents per share.
There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.
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