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

3 min read | March 03, 2020 11:03 PM AEDT | By Team Kalkine Media

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

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The equity market of Australia ended in green on 3^rd March 2020 and the benchmark index i.e., S&P/ASX200 stood at 6435.7 with a rise of 44.2 points. Moving towards the performance of some sectors which performed well, S&P/ASX 200 Consumer Staples (Sector) witnessed a rise of 0.61% and settled at 12,329.6. S&P/ASX 200 Health Care (Sector) increased by 1085.3 points and stood at 44,560.0. At the close of same trading day, All Ordinaries inched up by 50.5 points and ended at 6511.6.

Let us now look at the top performers on ASX. Xero Limited (ASX: XRO) closed at $79.940 per share with a rise of 7.173% and Bega Cheese Limited (ASX: BGA) surged by 6.484% and closed at $4.270 per share.

Turning the needle on losers and gainers at NZX Main Board, Blackwell Global Holdings Limited (NZX: BGI) closed the day at NZ$0.007 per share with a rise of 16.67%. Plexure Group Limited (NZX: PLX) stood at NZ$0.790 per share and rose by 12.86%. Coming to losers, Cavalier Corporation Limited (NZX: CAV) dropped by 16.67% and settled the session at NZ$0.200.

We have written an article on Lake Resources NL (ASX:LKE) with some important information, which could be beneficial for the readers. Please click here to access the information.

Xero Limited Surged by 7.173% on 3^rd March 2020

Xero Limited (ASX:XRO) recently notified the market that Graham Smith has stepped down from the role of Chairman and has been succeeded by David Thodey. For 1H FY20, the company reported a rise of 32% in operating revenue to $338.7 million. During the period, the company experienced a growth of 30% in annualised monthly recurring revenue (AMRR), which amounted to $764.1 million. At the end of period, the company attained a milestone by exceeding two million subscribers globally. Subject to investment criteria and market conditions, the company will aim on expanding its global small business platform and will maintain a preference for reinvesting cash generated for delivering long-term shareholder value.

CLINUVEL PHARMACEUTICALS LIMITED Ended In Green On Australian Stock Exchange

CLINUVEL PHARMACEUTICALS LIMITED (ASX:CUV) has recently announced that there was no impact of coronavirus on neither the drug substance nor the excipients of SCENESSE®. On the financial front, the company reported net profit of $1.059 million in 1H FY20, reflecting eighth regular half-year net profit result. The net profit for the period declined by 74% against 1H FY19, due to the rise in expenses along with investment in major areas in order to enable the growing activities of the company. The company managed to finish the half-year with cash balance of $57.432 million and zero debt.

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