Market Update: How Australian Markets Have Performed on May 27, 2020?

It can be said that the Australian equity markets are sensitive to the performance of the global markets. If global growth is questioned, the markets in Australia might witness some negative impacts. On May 27, 2020, S&P/ASX200 ended the session in red as it witnessed a fall of 0.09% and stood at 5775. On the same day, All Ordinaries witnessed a fall of 0.08% to 5884.9. S&P/ASX 200 Consumer Staples (Sector) ended in red as there was a fall of 1.32% on May 27, 2020.

We will now have a look at the performance of individual stocks. Southern Cross Media Group Limited (ASX: SXL) and Virgin Money UK PLC (ASX: VUK) ended in green as the prices of these stocks have witnessed a rise of 27.027% and 15.506%, respectively on an intraday basis.

On the other hand, Saracen Mineral Holdings Limited (ASX: SAR) ended in red as the stock price fell by 11.19% on an intraday basis to $5.000 per share.

On May 27, 2020, S&P/NZX50 rose by 1.22% to 11,049 while S&P/NZX20 rose by 1.06% to 7,437. On the same day, SeaDragon Limited (NZX: SEA) rose by 22.22% on an intraday basis to NZ$0.055 per share.

We have written some important information on Corazon Mining Ltd (ASX: CZN) and the investors can read the information by clicking here.

Recent Update on ESH

Esports Mogul Limited (NZX: ESH) has recently made an announcement that its long term Chairman, named Mr Adam Jacoby, notified that he would be standing down from the role as Chairman of the Board effective on the company appointing another Non-Executive Director (or NED).

Genetic Technologies Makes an Announcement of Capital Raising

Genetic Technologies Limited (ASX: GTG) has made an announcement that it has entered into definitive agreements with numerous US institutional investors in order to garner USD 8 Mn (or equivalent of around AUD 12 Mn).

The gross proceeds, as a result of this offering, are anticipated to be around USD 8 Mn, before deducting placement agent’s fees as well as other offering expenses which are payable by the company.

It plans to utilise net proceeds towards supporting the introduction and distribution of the new products in the US, for implementation of the consumer-initiated testing platform, preparation for potential coronavirus testing should it be needed by Government agencies in order to assist with test demand and working capital.

MMS Announces Appointment of Kathy Parsons

McMillan Shakespeare Limited (ASX: MMS) made an announcement about the appointment of Kathy Parsons as independent Non-Executive Director.

As per the release, Ms Parsons is a former audit partner at Ernst & Young and she has spent time as a partner in the firm’s UK, US, as well as Australian practices.

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