Market Update: How Australian Markets Performed on July 17, 2020

  • Jul 17, 2020 AEST
  • Team Kalkine
Market Update: How Australian Markets Performed on July 17, 2020

On July 17, 2020, S&P/ASX200 ended the session in green as the index witnessed a rise of 0.38% to 6033.6. On the same day, All Ordinaries encountered an increase of 0.36% to 6144.9.

S&P/ASX 200 Materials (Sector) ended the session in green as there was an increase of 0.83% to 14,170.1. On the same day, S&P/ASX 200 Information Technology (Sector) encountered a fall of 0.09%.

On July 17, 2020, the share price of Abacus Property Group (ASX: ABP) witnessed a rise of 6.564% on an intraday basis to A$2.760 per share. On the same day, the stock of Alumina Limited (ASX: AWC) rose by 4.348% to A$1.800 per share.

Stock Performance (Source: ASX)

We have written some critical information on Horizon Minerals Limited (ASX: HRZ) and the investors can click here to read the content.  

On July 17, S&P/NZX50 ended the session at 11,584, reflecting a rise of 0.69% while S&P/NZX20 rose by 0.78% to 7,720. The stock of Blackwell Global Holdings Limited (NZX: BGI) rose by 11.11% to NZ$0.050 per share. Also, the share price of Restaurant Brands NZ Limited (NZX: RBD) rose 6.43% to
NZ$12.090 per share.

Abacus Property Group Rose by 6.564% on the Australian Securities Exchange

Abacus Property Group (ASX: ABP) recently announced that it has negotiated and agreed to extend syndicated and bilateral banking facilities of $111 million by a further 12 months. The company added that facility pricing was unchanged and is below its weighted average cost of debt. The company retains adequate headroom on all covenants. During 1H FY20, the company reported statutory profit amounting to $82.1 million with a fall of 36% over 1H FY19. Funds from operations of the company stood at $67.3 million with a rise of 3%. During 1H FY20, the company undertook several transactions to decrease exposure to its non-core legacy investments, mainly in the Residential Land and Mortgages legacy sector.

Alumina Limited Ended in Green on 17th July 2020

Alumina Limited (ASX: AWC) recently noted Alcoa Corp’s quarterly earnings release, wherein it was mentioned that AWAC has achieved record quarterly daily alumina production for the current system despite the challenges presented by the COVID 19 crisis. The joint venture continues to focus on the safety of AWAC employees and the wider communities. AWC received net cash distributions of $58.6 million during Q2 FY20, reflecting a rise from $31.3 million for the previous quarter. It also stated that Alumina prices have risen from their lows of $225/t in the month of April 2020 following increased importing of alumina by China and are now at $284/t.

 


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