Market Update: Performance of Australian Equity Market on 6th May 2020

  • May 06, 2020 AEST
  • Team Kalkine
Market Update: Performance of Australian Equity Market on 6th May 2020

At the close of the trading session on 6th May 2020, equity market of Australia ended in red. S&P/ASX200 experienced a decline of 22.5 points to 5384.6. S&P/ASX 200 Financials (Sector) went down by 1.13% and settled at 4,242.1. S&P/ASX 200 Consumer Staples (Sector) stood at 11,802.5, reflecting a decline of 70.8 points on an intraday basis. At the end of the same session, All Ordinaries closed at 5464.8 with a fall of 13.3 points.

Some companies on ASX performed exceptionally well and filled the pocket of investors. Nearmap Ltd (ASX: NEA) moved up by 9.571% to $1.660 per share. McMillan Shakespeare Limited (ASX: MMS) gained 8.98% and ended at $7.160 per share. Appen Limited (ASX: APX) inched up by 8.838% to $28.940 per share.

S&P/NZX50 witnessed a rise of 0.78% to 10,573. Pushpay Holdings Ltd (NZX: PPH) soared 20.88% and settled at NZ$5.500 per share. TruScreen Limited (NZX: TRU) rose by 14.75% and closed the session at NZ$0.070. One the other hand, PaySauce Limited (NZX: PYS) witnessed a sharp fall of 4.26% and closed at NZ$0.450.

Recently, we have written some important information on Noxopharm Limited (ASX: NOX), and the readers are advised to view the article by clicking here.

Nearmap Ltd Rose 9.571% on Australian Stock Exchange

Nearmap Ltd (ASX: NEA) recently updated the market with its current trading condition wherein it stated that it has not experienced any material impact from the global pandemic. NEA is undertaking numerous steps to manage its near-term cost base without affecting its investment in growth initiatives. The company has decided to reduce 25% in compensation of Board and Chief Executive Officer and a reduction of 20% in remuneration of all other employees. These cost management steps of the company would assist in preserving cash, maintaining a solid balance sheet, and maximizing flexibility for the future. In another update, the company announced that Ross Norgard has made a change to holdings in the company by disposing 315,384 fully paid ordinary shares.

McMillan Shakespeare Limited Ended in Green on 6th May 2020.

McMillan Shakespeare Limited (ASX: MMS) recently notified that Invesco Australia Limited has made a change to its substantial holding in the company with a current voting power of 8.431% as compared to the previous voting power of 7.131%. The management is focused on the sustainability and financial health of the company for the longer term. In response to the outspread of COVID-19, the company has decided to decrease all non-essential operating and capital expenditure. The Board, Managing Director and all Group Executives have decided to decrease their remuneration by around 35%. Considering the current uncertainty, the company has suspended its earnings guidance for FY20.


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