On 3rd June 2020, the Australian equity market closed in green, and the benchmark index witnessed a sharp rise of 106.5 points or 1.83% to 5941.6. Most of the sectors on ASX settled in green including S&P/ASX 200 Energy (Sector), which stood at 8,049.8, reflecting a rise of 2.96%. S&P/ASX 200 Consumer Staples (Sector) closed the day at 12,109.6, with an increase of 1.32%. At the end of the same session, All Ordinaries closed at 6064.9, indicating a rise of 1.76%.
We will now have a quick look at the performance of individual stocks. The stock price of Pilbara Minerals Limited (ASX: PLS) zoomed up by 13.462% to $0.295 per share while the stock of Unibail-Rodamco-Westfield (ASX: URW) inched up by 10.36% to $4.900 per share.
S&P/NZX50 went up by 0.76% to 11,118. The stock price of Vista Group International Ltd (NZX: VGL) soared by 21.34% to NZ$1.990 per share and that of NZME Limited (NZX: NZM) rose by 13.33% and stood at NZ$0.255 per share.
Recently, we have written an article on Bowen Coking Coal Limited (ASX: BCB), and the readers can view the information by clicking here.
Pilbara Minerals Limited Rose 13.462% on ASX
Pilbara Minerals Limited (ASX: PLS) recently stated that its 100% owned Pilgangoora Lithium-Tantalum Project is well-placed for the future lithium raw material supply. This project is an exceptional growth opportunity for the company. PLS has continued to utilize its production moderation strategy, matching site production and available stocks to customer demand, and focusing on delivering plant recovery improvements with an objective to minimise the investment in working capital. The company experienced a strong improvement in product recovery trend, which helped PLS in lowering operating costs. At the end of March 2020 quarter, the cash balance of the company stood at $108.2 million.
SkyCity Entertainment Group Limited Ended in Green on 3rd June 2020
SkyCity Entertainment Group Limited (ASX: SKC) has recently provided a trading update for the period of 18 days from 14-May 2020 to 31 May 2020 and stated that it has experienced decent performance in its gaming businesses in Auckland and Hamilton. The company added that this performance was achieved despite limited capacity, physical distancing requirements and restrictions around mass gatherings. The company is progressing on the development of its funding plan to boost the business over the medium-term. The company enjoys a robust liquidity position with cash and undrawn debt facilities of around $330 million. The stock of SKC is up by 8.368% due to recent trading update.
There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.
Are you wondering if the year 2020 might not have taken the right start? Dividend stocks could be the answer to that question.
As interest rates in Australia are already at record low levels, find out which dividend stocks are viewed as the most attractive investment opportunity in the current scenario in our report.