Market Update: How Markets Performed on 11th June 2020?

  • Jun 11, 2020 AEST
  • Team Kalkine
Market Update: How Markets Performed on 11th June 2020?

On 11th June 2020, the equity market of Australia ended in red. S&P/ASX200 experienced a sharp fall of 187.8 points to 5960.6. The index has lost 0.52% during the last five days. S&P/ASX 200 Consumer Staples (Sector) stood at 12,336.3 with a fall of 2.53%. S&P/ASX 200 Financials (Sector) moved down by 258.8 points to 4,872.0. At the end of the same day, All Ordinaries closed at 6079.5, reflecting a decline of 189.8 points or 3.03%.

On ASX, share price of Northern Star Resources Ltd (ASX: NST) went up by 6.764% to $13.890 per share. The stock of Newcrest Mining Limited (ASX: NCM) inched up by 5.7% and settled the session at $30.040 per share.

The following image provides a broad overview as to how the stock of NCM has performed in the span of 1 month:

Stock Performance (Source: ASX)

S&P/NZX50 ended the trading session at 11,155, indicating a fall of 0.94%. The stock of Good Spirits Hospitality Limited (NZX: GSH) soared by 9.18% to NZ$0.107 per share. The share price of Cavalier Corporation Limited (NZX: CAV) rose by 8.70% to NZ$$0.250 per share. On the other hand, the stock of Geo Limited (NZX: GEO) witnessed a sharp decline of 14.67% to NZ$0.064 per share.

Recently, we have covered some important information on Sultan Resources Ltd (ASX: SLZ), which could be beneficial for the market players. Readers can click here to view the article.

Northern Star Resources Ltd Rose 6.764% on Australian Securities Exchange

Northern Star Resources Ltd (ASX: NST) recently announced that BlackRock Inc. and subsidiaries have made a change to their holdings in the company on 29th May 2020 with the current voting power of 12.96% as compared to the previous voting power of 11.22%. During the quarter ended March 2020, the company sold 239,031 ounces of gold at an AISC of A$1,590/oz. The underlying free cash flow for the period stood at $89 million. As at 31st March 2020, the cash, bullion, and investments of the company stood at $551 million after drawing $200 million from the corporate credit revolver facility and completion of the KCGM acquisition. The company has deferred payment of interim dividend amounting to $55 million till 27th October 2020.

Newcrest Mining Limited Ended in Green on 11th June 2020

Newcrest Mining Limited (ASX: NCM) recently released its strong drilling results at Havieron and Red Chris. The company stated that, at Havieron Project, step out drilling expanded footprint of the mineralisation with hole HAD066 drilled 220m north-west of previous drilling intersecting 82.1m @ 2.4 g/t Au and 0.08% Cu. As per the release. infill drilling at the Red Chris confirmed continuity of the high grade within East Zone.

In another update, the company stated that it has completed the share purchase plan on 30th April 2020 and raised around $200 million. The size of SPP was increased from $100 million to $200 million, considering the strong support shown by eligible shareholders. SPP follows successful completion of the company’s $1.0 Bn placement which was made to institutional investors.

 


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