Market Update: Performance of Australian Markets on June 9, 2020

June 09, 2020 09:42 PM AEST | By Team Kalkine Media

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Market Update: Performance of Australian Markets on June 9, 2020

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On 9^th June 2020, Australian equity market settled in green. The benchmark index S&P/ASX200 surpassed the level of 6000 and ended at 6144.9. This reflects an increase of 146.2 points or 2.44%. The index has gained 5.31% over the span of last five days. S&P/ASX200 Consumer Discretionary (Sector) witnessed a rise of 1.77% to 2,465.3. On June 9, 2020, All Ordinaires rose by 146.4 points to 6262.9.

Performance of S&P/ASX200 (Source: Thomson Reuters)

On ASX, the share price of Virgin Money UK PLC (ASX: VUK) stood at $2.200 with a rise of 16.402%. The stock of Credit Corp Group Limited (ASX: CCP) went up by 15.691% and closed at $20.940 per share.

Performance (Source: Australian Securities Exchange)

S&P/NZX50 closed the session at 11,299, indicating a fall of 1.97%. The share price of Cannasouth Limited (NZX: CBD) soared by 10.42% to NZ$0.530 per share and the stock of Abano Healthcare Group Limited (NZX: ABA) inched up by 8.92% to NZ$3.540 per share. On the other hand, the share price of Blackwell Global Holdings Limited (NZX: BGI) witnessed a sharp fall of 12.50% to NZ$0.007 per share.

Recently, we have written some crucial information on Middle Island Resources Limited (ASX:MDI), and the market participants can view the information by clicking here.

Share Price of Virgin Money UK PLC Rose by 16.402% on ASX

Virgin Money UK PLC (ASX:VUK) recently announced that Fiona MacLeod will step down from the position of Non-Executive Director on 30 September 2020. During 1H20, VUK reported underlying profit of £120 million, reflecting a fall of 58% on a YoY basis. This was mainly because of COVID-19 impairment charge. The statutory profit after tax for the period stood at £22 million, which reflects exceptional items of £127 million. CET1 ratio stood at 13.0%, reflecting a decline of 0.3% pts, mainly because of the higher RWAs from a planned mortgage model change. For FY20, VUK expects NIM in the range of 155bps-160bps.

Credit Corp Group Limited Ended in Green on 9^th June 2020

Credit Corp Group Limited (ASX:CCP) has recently wrapped up its share purchase plan (or SPP) and raised $35 million. The company increased the size of the SPP to $35 million from the previous target of $30 million due to strong demand from eligible shareholders. The company garnered $155 Mn of equity in total, consisting of $120 Mn placement wrapped up on 29^th April 2020 and SPP of $35 Mn.

The company would utilise these funds to improve flexibility in balance sheet, support the business during the current macro-economic uncertainty and materially improve liquidity and reduce net debt.

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