Market Update: How Markets Performed on 3rd July 2020?

  • Jul 03, 2020 AEST
  • Team Kalkine
Market Update: How Markets Performed on 3rd July 2020?

On 3rd July 2020, the equity market of Australia ended in green, and S&P/ASX200 settled at 6057.9 with a rise of 25.2 points or 0.42%. S&P/ASX 200 Consumer Staples (Sector) ended the session at 12,815.9, reflecting an increase of 164.5 points. S&P/ASX 200 Information Technology (Sector) stood at 1,665.5 with a rise of 10.7 points. All Ordinaries closed the day at 6163.7 with a rise of 21.4 points.

On ASX, the share price of Cochlear Limited (ASX: COH) went up by 5.87% to $204.0 per share. The stock of Bega Cheese Limited (ASX: BGA) moved up by 5.063% to $4.980 per share.

Stock Performance (Source: ASX)

S&P/NZX50 experienced a rise of 0.49% and closed the session at 11,559. The share price of Pacific Edge Limited (NZX: PEB) mounted up by 103.70% to NZ$0.550 per share. The stock of Me Today Limited (NZX: MEE) gained 8.26% and settled at NZ$0.131 per share. On the other hand, the share price of New Talisman Gold Mines Limited (NZX: NTL) tumbled by 14.29% to NZ$0.006 per share.

Recently, we have written an article on BPH Energy Limited (ASX: BPH), which could be beneficial for the market participants. Readers can view the content by clicking here.

Cochlear Limited Rose 5.87% Due to the Approval of Four New Products

Cochlear Limited (ASX: COH) recently announced that it has received approval from US Food and Drug Administration for four new products including Nucleus® Kanso® 2 Sound Processor, Nucleus® 7 Sound Processor for Nucleus 22 implant recipients, Custom Sound® Pro fitting software and the Nucleus® SmartNav system. The company added that the four new systems would be commercially released in the United States and Western Europe in the next few months, subject to local approvals. In another update, the company stated that it experienced a decline of around 60% in sales revenue during the month of April 2020. Cochlear implant unit sales went down by around 80% in the developed markets. The company is focused on providing support to recipients while continuing their outreach programs with candidates via its direct-to-consumer efforts.

WiseTech Global Limited Ended in Green on 3rd July 2020

WiseTech Global Limited (ASX: WTC) has notified that 21,025 fully paid ordinary shares issued in relation to the prior acquisition are due to be released from escrow with effect from 4.15 pm on July 11, 2020. The company also announced that Richard White has made a change to the holdings in the company by disposing 2,245,925 ordinary shares at the consideration of $18.40 per share. In another update, the company stated that it renegotiated earnout arrangements for several strategic acquisitions in order to allow for better alignment of resources as well as to strengthen its balance sheet. The company added that the negotiations have resulted in the decline of contingent liabilities from $215.5 million to $68.5 million and removal of future contingent cash liabilities amounting to $151.5 million. WTC anticipates digital transformation to ramp-up demand for global technology and integrated platform.

 


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