Market Update: How Australian Markets Performed on March 20, 2020?

March 20, 2020 11:56 PM AEDT | By Team Kalkine Media

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Market Update: How Australian Markets Performed on March 20, 2020?

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The Australian equity markets are sensitive to the macro-economic factors as well as to the health of the global economy. In the present scenario, it can be said that the broader equity markets are being influenced by the fears about COVID-19. Let us now have a look at the performance of Australian equities. On March 20, 2020, S&P/ASX200 ended the session in green as there was an increase of 33.7 points or 0.70% to 4816.6. On the same day, All Ordinaries ended the session at 4854.3, reflecting an increase of 44.9 points or 0.93% on an intraday basis.

We would now have a look at the performance of some individual companies. On March 20, 2020, CIMIC Group Limited (ASX:CIM) ended the session at A$19.650 per share, which implies an increase of 51.154% on an intraday basis. On the same day, Pendal Group Limited (ASX:PDL) closed the session at A$4.400 per share, which implies an increase of 27.907%.

At NZX Main Board, SeaDragon Limited (NZX: SEA) ended by increasing 95.24% and closed the session at NZ$0.205 per share and Michael Hill International Limited (NZX: MHJ) rose by 32% to end at NZ$0.330 per share. On the other hand, Air New Zealand (NZX: AIR) ended the session at NZ$0.990 per share, which reflects the fall of 35.71%.

Recently, we have written some information about Metals X Limited (ASX:MLX) and Independence Group NL (ASX:IGO) which could be helpful for the market participants. To view the same, please click here.

APT Releases Letter to Shareholders

Afterpay Limited (ASX:APT) recently released a letter in which it was mentioned that the world is facing significant challenges because of COVID-19. The company stated that it possesses a business model, balance sheet as well as customer base which creates level of protection. The company has robust liquidity position of more than A$672.1 million and cash on balance sheet stood at A$402.5 million. Notably, the company’s liquidity position gives it capacity to continue to finance operating expenditure. Also, it can focus towards the expansion of business activities.

Notably, the stock price of APT ended the session in green as there was an increase of 25.657% and settled at A$12.440 per share.

Pendal Limited Ended in Green on ASX

Pendal Group Limited (ASX:PDL) earlier made an announcement about its funds under management (or FUM) for the quarter ended December 2019 and the figure stood at $101.4 billion, reflecting an increase of 1%. As per the release, J O Hambro Capital Management (or JOHCM) FUM increased by $1.1 billion in the quarter because of the stronger market performance while net outflows as well as adverse currency movements detracted.

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