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The performance of Australian stock markets is extremely sensitive to the macro-economic environment as well as to the performance of global markets. If unfavorable momentum is witnessed in the global markets, the impact might also be witnessed in Australian markets. We will now see how markets in Australia performed.
The equity market of Australia closed in green at the end of trading session on 14th April 2020. The S&P/ASX200 went up by 100.8 points to 5488.1. Most of the sectors on ASX ended in green at the close of session such as S&P/ASX 200 Consumer Staples (Sector), which was up by 314.4 points to 12,224.7. S&P/ASX 200 Materials (Sector) gained 3.42% and settled at 11,937.6. At the end of same day, All Ordinaries stood at 5542.5 with a rise of 1.90%.
Some companies on ASX performed well and ended in green. Afterpay Limited (ASX:APT) stood at $28.400 with an increase of 29.091%. Southern Cross Media Group Limited (ASX:SXL) rose by 26.923% to $0.165 per share.
Notably, S&P/NZX50 closed at 10,159 with a rise of 1.96%. Michael Hill International Ltd (NZX: MHJ) marked the closing at NZ$0.350 with a rise of 34.62%. Blis Technologies Limited (NZX: BLT) soared 19.74% to NZ$0.091. On the other hand, Scott Technology Limited (NZX: SCT) plunged 5.10% to NZ$1.860 per share.
Recently, we have written some important information on BlackEarth Minerals NL (ASX:BEM) and readers can click here to view the information provided in the article.
Afterpay Limited Ended in Green on 14th April 2020
Afterpay Limited (ASX:APT) recently notified the market with business update for the three-month period ended 31st March 2020 (Q3 FY20) and response plan to COVID-19. The company continued to deliver strong performance throughout the business with underlying sales amounting to $7.3 billion year to date (14th April 2020).
The company possesses strong balance sheet and liquidity position, which reflects that APT has no requirement to raise capital in the future. As at March 31, 2020, the company had cash balance of $541.1 million and total liquidity of $719.2 million.
As per the release, the response plan of APT to uncertainty from coronavirus includes numerous priorities. This comprises taking care of the people as well as protecting the strong relationships with customers and with merchants.
Southern Cross Media Group Limited Closed in Green on ASX
Southern Cross Media Group Limited (ASX:SXL) recently announced that it has successfully wrapped up the fully underwritten placement to institutional and sophisticated investors and the institutional component of its 1.75 for 1 accelerated pro-rata non-renounceable entitlement offer of fully paid ordinary shares in SXL. The company anticipates raising around $169 million (before costs) from the fully underwritten Placement and the entitlement offer. The company is also expecting to raise additional $19.5 million (before costs) through retail component of the Entitlement Offer, which is fully underwritten. The retail entitlement offer is anticipated to open on 15th April 2020 and will close on 27th April 2020.
