On August 13, 2020, S&P/ASX200 ended the session in red as there was a fall of 0.67% to 6091 while All Ordinaries encountered a decline of 0.53% to 6223.9. The stock price of GrainCorp Limited (ASX: GNC) rose by 8.312% on an intraday basis to A$4.170 per share.
Stock Performance (Source: ASX)
We will now have a quick look at the performance New Zealand market. On August 13, 2020, S&P/NZX50 ended the session in green, reflecting an increase of 0.08% to 11,501. On the same day, S&P/NZX20 rose by 0.05% to 7,682 and S&P/NZX10 encountered a rise of 0.10% to 12,152. The stock price of Good Spirits Hospitality Limited (NZX: GSH) declined by 15.71% on an intraday basis to NZ$0.059 per share. On the same day, the share price of Telstra Corporation Limited (NZX: TLS) fell by 7.61% to NZ$3.400 per share.
We have recently written some crucial information on Platina Resources Limited (ASX: PGM) and readers can click here to view the content.
TWE Ended the Session in Green
Treasury Wine Estates Limited (ASX: TWE) came forward and made an announcement about annual 2020 financial result, and its NPAT fell 25 percent to $315.8 Mn while EPS was down by 26% to 43.9 cents per share. The company reported EBITS amounting to $533.5 Mn, down by 22% on a reported currency basis, and EBITS margin was down 4.0 ppts to 20.1 percent.
ROCE witnessed a fall of 3.3 ppts to 10.6 percent due to lower EBITS and the company has been taking a disciplined approach when it comes to capital allocation.
The stock price of TWE ended the session in green as there was an increase of 12.325% to A$12.850 per share.
QBE Released 1H FY 2020 Results
QBE Insurance Group Limited (ASX: QBE) came forward and announced 2020 interim result and it noted that it is consistent with, or marginally better than, the estimates that were communicated to the market earlier.
The company stated that its 1H FY 2020 statutory net loss after tax amounted to $712 Mn, as compared to the net profit after tax of $463 Mn in the prior period. This includes pre-tax investment loss amounting to $90 Mn as compared to $755 Mn gain in the prior period.
The share price of QBE rose by 6.759% on an intraday basis to A$10.740 per share.
There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.
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