Market Update: How Australian Markets Performed on 21st July 2020?

July 21, 2020 09:29 PM AEST | By Team Kalkine Media

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Market Update: How Australian Markets Performed on 21st July 2020?

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At the close of the trading session on 21^st July 2020, Australian equity market ended in green. The benchmark index S&P/ASX200 stood at 6156.3 with a rise of 154.7 points. During the last five days, the index has gained 3.62%. S&P/ASX 200 Consumer Discretionary (Sector) went up by 3.09% to 2,519.9. S&P/ASX 200 Industrials (Sector) ended at 5,733.7, with an increase of 2.53%. At the end of the same session, All Ordinaries closed at 6268.8, reflecting a rise of 156.5 points or 2.56%.

S&P/ASX200 Weekly Performance (Source: ASX)

On ASX, the share price of Immuron Limited (ASX: IMC) witnessed a sharp rise of 248.98% to $0.855 per share. The stock of Mesoblast Limited (ASX: MSB) soared by 10.448% to $3.700 per share.

S&P/NZX50 settled at 11,737 with a rise of 1.59%. The share price of Blackwell Global Holdings Limited (NZX: BGI) inched up by 25.00% to NZ$0.070 per share. The stock of New Zealand Oil & Gas Ltd (NZX: NZO) rose 8.62% and closed the session at $0.630 per share. On the other hand, the stock of Cooks Global Foods Limited (NZX: CGF) tumbled by 8.16% to NZ$0.045 per share.

Recently, we have written an article on Dark Horse Resources (ASX:DHR), and the readers can view the content by clicking here.

Share Increase Witnessed in IMC’s Share Price

Immuron Limited (ASX:IMC) recently announced that IMM-124E used to manufacture Travelan® and Protectyn® demonstrated antiviral activity against COVID-19 virus in the laboratory studies.

The company added that in-vitro assessment of the neutralization of SARS-CoV-2 was performed on four production lots of product used to manufacture Travelan® and Protectyn®. Also, the company’s technology platform offers a potential new oral therapeutic approach to target SARS-CoV-2 in the GI Tract.

Mesoblast Limited Ended in Green on 21^st July 2020.

Mesoblast Limited (ASX:MSB) recently notified the market that Oncologic Drugs Advisory Committee (ODAC) of USFDA has scheduled a meeting on 13^th August 2020 to review data supporting MSB’s Biologics License Application (BLA) for approval of RYONCIL™ for the treatment of steroid-refractory acute graft versus host disease in children.

Currently, there are no FDA-approved treatments in the US for children under 12 with SR-aGVHD, a potentially life-threatening complication of an allogeneic bone marrow transplant for blood cancer.

For the nine months ended 31^st March 2020, the company reported a rise of 113% in revenue to US$31.5 million against US$14.8 million. The company reported a decline of 34% in loss after tax, which was supported by 113% increase in total revenues and a 15% decrease in research and development expenditure.

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