Market Update: How Markets Performed on 25th May 2020?

May 25, 2020 08:45 PM AEST | By Team Kalkine Media

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Market Update: How Markets Performed on 25th May 2020?

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The equity market of Australia ended in green on 25^th May 2020, and S&P/ASX200 moved up by 118.6 points or 2.16% to 5615.6. S&P/ASX 200 Consumer Discretionary (Sector) went up by 2.61% to 2,276.5. S&P/ASX 200 Information Technology (Sector) closed the session at 1,481.3, reflecting a rise of 3.61%. All Ordinaries settled the trading session at 5729.9 with an increase of 121.1 points on an intraday basis.

On ASX, Webjet Limited (ASX: WEB) rose by 15.556% to $4.160 per share. Flight Centre Travel Group Limited (ASX: FLT) stood at $13.010 with a rise of 15.235%. Southern Cross Media Group Limited (ASX: SXL) inched up by 10.345% to $0.160 per share.

Coming to New Zealand Market, S&P/NZX50 closed the day at 10,776 with a rise of 1.06%. Chatham Rock Phosphate Limited (NZX: CRM) soared by 7.58% to NZ$0.142 per share. Truscreen Limited (NZX: TRU) went up by 7.14% to NZ$0.060 per share. On the other hand, SeaDragon Limited (NZX: SEA) experienced a sharp fall of 38.57% and settled the session at NZ$0.043.

Recently, we have written an article on Noxopharm Limited (ASX:NOX) with some crucial information. Readers can view the content by the clicking here.

Webjet Limited Rose on Australian Stock Exchange

Webjet Limited (ASX:WEB) announced that UBS Group AG and its related bodies corporate have ceased to become substantial holder in WEB. The company has recently raised $275 million through accelerated pro-rata institutional placement. WEB will utilise the funds to strengthen the balance sheet. During 1H FY20, the company reported a rise of 43% in underlying EBITDA of $86.3 million. Considering the uncertainty caused by COVID-19, the company has suspended its guidance for the full year 2020.

Flight Centre Travel Group Limited Ended in Green on 25^th May 2020

Flight Centre Travel Group Limited (ASX:FLT) recently notified the market that Colette Mary Garnsey made a change to holdings in FLT by acquiring 1,725 ordinary shares for a consideration of $7.20 per share. In another update, the company announced that it has agreed to sell its Melbourne head office property for the consideration of $62.15 million to Shakespeare Property Group and the sale is expected to complete by July 2020. The company has also successfully wrapped up its Retail Entitlement Offer and raised a total of $138 million at $7.20 per new share.

Together with institutional placement and institutional component of entitlement offer, the total amount garnered under the offer is ~A$700 Mn.

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