Market Update: How Equity Markets Performed on 8th April 2020

3 min read | April 08, 2020 10:35 PM AEST | By Team Kalkine Media

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Market Update: How Equity Markets Performed on 8th April 2020

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The equity market of Australia ended in red on 8^th April 2020. The benchmark index S&P/ASX200 experienced a fall of 45.4 points to 5206.9. At the end of day, most of sectors on ASX closed in red such as S&P/ASX 200 Energy (Sector), which went down by 1.33% and stood at 6,686.6. S&P/ASX 200 Materials (Sector) experienced a fall of 92.6 points to 11,382.4. All Ordinaries at the close of session settled at 5258.8, down by 42.5 points.

Let us now look at performance of some companies, which performed well and filled the pocket of investors. Virgin Money UK Plc (ASX: VUK) gained 12.5% and settled at $1.440. Unibail-Rodamco-Westfield (ASX: URW) rose by 10.889% to $4.990 per share. Vicinity Centres (ASX: VCX) closed at $1.310, reflecting a rise of 10.549%.

S&P/NZX50 ended the trading session at 10,032 with a rise of 2.26% on an intraday basis. Scott Technology Limited (NZX: SCT) soared 21.43% to NZ$1.700. Smartpay Holdings Limited (NZX: SPY) inched up by 20.00% and ended at NZ$0.360. On the other hand, Metlifecare Limited (NZX: MET) plunged 17.41% to NZ$3.510.

Recently, we have penned an article on First Au Ltd (ASX:FAU) and readers can click here to know the information.

Virgin Money UK Plc Ended in Green on 8^thApril 2020

Virgin Money UK Plc (ASX:VUK) recently notified the market with the performance of Q1 FY20, wherein it reported customer deposit growth of 1.6% to £64.8 billion. It reported business lending growth of 2.5% to £8.1 billion, which indicates good organic business lending growth as well as a strong contribution during the period from customers switching from RBS. During the period, its net interest margin stabilised at 160 basis points and it anticipates NIM for FY20 in the range of 160 bps-165 bps. The company is strongly capitalised with a CET1 ratio of 13.1%, reflecting a fall of around 0.20 bps.

Unibail-Rodamco-Westfield Rose 10.889% on Australian Stock Exchange

Unibail-Rodamco-Westfield (ASX:URW) recently stated that it has implemented partial activity measures in various countries for protecting its employees from COVID-19 Pandemic. The Group CEO, CFO, and all members of the Group’s Senior Management Team have decided to decrease their remuneration by 25% for the period during which partial activity measures would be in place. In addition, members of its Supervisory Board have taken an initiative to decrease their fees by the same percentage. Moreover, all the senior executives of its US and European management committees have decreased their fixed income by 20%. This decreased amount will be donated to support the efforts and to deal with COVID-19 pandemic in all countries in which it operates. On 2^nd April 2020, the company announced successful placement of €1.4 Bn of bonds, which would be utilised for general corporate purposes, including the refinancing of debt maturing in 2020.

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