Market Update: How Australian Markets Performed on May 11, 2020?

  • May 11, 2020 AEST
  • Team Kalkine
Market Update: How Australian Markets Performed on May 11, 2020?

The equity market of Australia was in green at the close of session on 11th May 2020. S&P/ASX200 settled at 5461.2, reflecting a rise of 70.1 points or 1.30%. Most of the sectors on ASX closed in green like S&P/ASX 200 Industrials (Sector), which moved up by 126.5 points to 5,495.6. S&P/ASX 200 Health Care (Sector) stood at 42,629.7 with a rise of 294.8 points. At the close of same trading session, All Ordinaries inched up by 1.30% to 5559.1.

On ASX, Webjet Limited (ASX: WEB) rose by 19.454% to $3.500 per share. Southern Cross Media Group Limited (ASX: SXL) ended at $0.160, up by 18.519%. NRW Holdings Limited (ASX: NWH) stood at $1.705 per share with a rise of 12.171%.

S&P/NZX50 closed the trading session at 10,760, reflecting an increase of 0.60% on an intraday basis. Sky Network Television Limited (NZX: SKT) soared 20.31% to NZ$0.385. Plexure Group Limited (NZX: PLX) surged 17.65% during the session and settled at NZ$0.800 per share. On the other hand, Burger Fuel Group Limited (NZX: BFG) went down by 5.45% to NZ$0.520.

Recently, we have written some important information on Kingwest Resources Limited (ASX:KWR). Readers can read the content provided by clicking here.

Southern Cross Media Group Limited Rose 18.519% on Australian Stock Exchange

Southern Cross Media Group Limited (ASX: SXL) has recently notified the market that it has successfully wrapped up its placement and entitlement offer and has raised around $169 million before incurring transaction costs. The company experienced a take-up rate of around 92% in the Entitlement Offer. During April 2020, SXL achieved positive EBITDA. As at 4th May 2020, the company reported a net debt position of $161.8 million. In another update, the company announced that Robert Murray has made a change to holdings in SXL on 4th May 2020 by acquiring 257,684 fully paid ordinary shares for the consideration of $23,191.56. Due to COVID-19 pandemic, the company has cancelled its FY20 interim dividend and decided that no final dividend will be paid for FY20 to maximise liquidity. 

NRW Holdings Limited Ended in Green on 11th May 2020

NRW Holdings Limited (ASX: NWH) recently announced that Vinva Investment Management has ceased to become a substantial holder in NWH. The company stated that all operations of the group have started its working practices to minimise the risks from COVID-19. The company is in the process of establishing a facility south of Perth for training new entrants to the mining industry on a range of mobile mining equipment. Considering the current environment caused by COVID-19, the company has decided to defer its payment of interim dividend to retain maximum liquidity.



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