Market Update: S&P/ASX200 Ended in Green; MSB Soared by 4.932%

  • Jul 30, 2020 AEST
  • Team Kalkine
Market Update: S&P/ASX200 Ended in Green; MSB Soared by 4.932%

The equity market of Australia ended in green, and the benchmark index S&P/ASX200 moved up by 44.7 points to 6051.1. Most of the sectors on ASX closed in green such as S&P/ASX 200 Consumer Staples (Sector), which went up by 190.3 points to 13,207.2. S&P/ASX 200 Energy (Sector) stood at 7,258.8, reflecting a rise of 1%. At the close of the same trading session, All Ordinaries ended at 6177.5 with an increase of 49.5   points.

On ASX, the share price of Credit Corp Group Limited (ASX: CCP) gained 5.964% and closed the day at $19.190 per share. The stock of Mesoblast Limited (ASX: MSB) settled at $3.830 per share.

Stock Performance (Source: ASX)

S&P/NZX50 ended the session at 11,692 with an increase of 0.80%. The share price of Ascension Capital Limited (NZX: ACE) rose by 50.00% to NZ$0.003 per share. The stock of Cavalier Corporation Limited (NZX: CAV) inched up by 21.88% and settled at NZ$0.390 per share. On the other hand, the share price of Geo Limited (NZX: GEO) went down by 9.52% to NZ$0.057 per share.

Recently, we have covered some important information on Sultan Resources Limited (ASX: SLZ), and the readers can click here to view the content.

Credit Corp Group Limited Ended in Green on 30th July 2020

Credit Corp Group Limited (ASX: CCP) recently released its full-year 2020 results, wherein, it reported net profit after tax of $79.6 million, indicating the growth of 13% against the previous year. During 2H FY20, the company generated free cash flow of $110 million. The company ended FY20 with strong balance sheet comprising of cash and undrawn lines of $400 million. As of now, the company has no outstanding debt. The company has decided not to pay a final dividend for FY20. However, it is expecting to resume dividend payments in FY21 and anticipates dividend per share in the range of 45 cents to 55 cents. The company also expects to report free cash flow of $175 million in FY21.

Mesoblast Limited Released its Quarterly Activities Report

Mesoblast Limited (ASX: MSB) recently notified the market with activity report for the last quarter ended 30th June 2020 and provided an update on its leading product remestemcel-L. The company stated that the independent Data Safety Monitoring Board has specified a date for early September to finish the first interim analysis of the Phase 3 trial of remestemcel-L in ventilator-dependent COVID-19 patients with moderate to severe acute respiratory distress syndrome (ARDS). The company closed the Q4 FY20 with a cash balance of US$129.3 million. In the month of May 2020, the company wrapped up the capital raising of US$90 million from global institutional investors.

The stock price of ALS Limited (ASX: ALQ) ended the session in green as it rose by 6.514% to $8.830 per share and was the top performer of the day.


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