The equity market of Australia closed in green on 23rd July 2020 and the benchmark index S&P/ASX200 went up by 19.4 points to 6094.5. Most of the sectors on ASX ended in green such as S&P/ASX 200 Energy (Sector), which settled at 7,514.0 with an increase of 91.7 points. S&P/ASX 200 Industrials (Sector) moved up by 48.4 points to 5,661.4. All Ordinaries ended at 6213.9 with an increase of 21.3 points.
Stock Performance (Source: ASX)
At the end of the same session, S&P/NZX50 settled at 11,693 with a fall of 0.25%. The share price of Cavalier Corporation Limited (NZX: CAV) soared by 22.73% to NZ$0.270 per share. The stock of Steel & Tube Holdings Limited (NZX: STU) gained 5.45% and closed the session at NZ$0.580 per share. On the other hand, the share price of Good Spirits Hospitality Limited (NZX: GSH) plunged by 5.26% to NZ$0.090 per share.
Recently, we have written some important information on QEM Limited (ASX: QEM), and the readers can view the content by clicking here.
NRW Holdings Limited Ended in Green on 23rd July 2020
NRW Holdings Limited (ASX: NWH) recently announced that Mitsubishi UFJ Financial Group, Inc. has become a substantial holder in the company on 17th July 2020 with the voting power of 5.03%. For the 10 months ended April 2020, the company reported record revenue amounting to $1.6 billion. The company reported EBITDA amounting to $177 million. As of 30th April 2020, the company reported significant improvement in net debt to $115 million. Considering the continued strong performance of the business, the company has paid an interim dividend of 2.5 cents per share on the 9th June 2020, which was previously deferred. The company’s business is on track to achieve revenue guidance of $2 billion in FY20.
Coca-Cola Amatil Limited Provided Trading Update for June 2020
Coca-Cola Amatil Limited (ASX: CCL) recently notified the market that it is currently assessing the carrying value of each of its businesses. The company witnessed an improvement in trading conditions in its major markets in the month of June 2020, which is reflecting the gradual easing of COVID-19 related restrictions. During the month, the group experienced a decline of ~9% in trading volumes against June 2019. As a result of this, volume for Q2 FY20 went down by approximately 23% against the prior corresponding period. In New Zealand segment, CCL witnessed a rise of 4% in volumes while the Australian segment witnessed a decline of 3% in trading volumes. CCL expects to incur non-cash impairments in the range of $160 million-$190 million in its 1H FY20 accounts.
There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.
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