Market Update: Performance of Markets on 9th July 2020

On 9th July 2020, the equity market of Australia closed in green, and S&P/ASX200 index stood at 5955.5 with a rise of 35.2 points. S&P/ASX 200 Materials (Sector) went up by 230.7 points to 13,723.5. S&P/ASX 200 Energy (Sector) ended at 7,475.3, reflecting a rise of 176.1 points. All Ordinaries experienced a rise of 40.6 points and ended the session at 6074.9.

On ASX, the share price of Afterpay Limited (ASX: APT) soared by 11.364% to $73.500 per share. The stock of Netwealth Group Limited (ASX: NWL) inched up by 9.159% to $10.130 per share.

Stock Performance (Source: ASX)

On July 9, 2020, S&P/NZX50 witnessed a decline of 2.30% and settled at 11,441. The share price of AFC Group Holdings Limited (NZX: AFC) rose by 100.00% to NZ$0.002 per share. The stock of Blackwell Global Holdings Limited’s (NZX: BGI) moved up by 4.55% to NZ$0.023 per share. On the other hand, the stock of Contact Energy Limited (NZX: CEN) plunged by 13.95% and settled the day at NZ$5.800 per share.

Recently, we have written some crucial information on Greenland Minerals Ltd (ASX: GGG), and the readers can view the article by clicking here.

Afterpay Limited Ended the Session in Green

Afterpay Limited (ASX: APT) recently announced that it has successfully raised $650 million through a fully underwritten institutional placement. The Placement was priced at $66.00 per share, which reflects a discount of 2.9% to the close of trade on 6 July 2020. The company will also offer eligible shareholders the opportunity to purchase new shares in the company under a Share Purchase Plan, and the company is likely to raise $150 million. The company would utilise the proceeds to ramp up investment in growing underlying sales, and prioritising global expansion in the short term to maximise shareholder value in the longer term. During FY20, the company reported underlying sales amounting to $11.1 billion, which was supported by strong performance in the business. This indicates that APT is well placed to surpass its underlying sales target of $20 billion by the end of FY22.

Netwealth Group Limited Soared by 9.159% due to the Release of Quarterly Business Update

Netwealth Group Limited (ASX: NWL) recently announced that Hyperion Asset Management Limited has ceased to become a substantial holder in the company on 7th July 2020. In another update, the company reported funds under administration of $31.5 billion as at 30th June 2020, reflecting a rise of $8.2 billion. For FY20, the company reported record FUA net inflows amounting to $9.1 billion. The company would continue to increase its investment in FY21 to ensure continued market leadership in technology, service and functionality and to capitalise on the significant growth opportunity for long-term.

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK