Market Update: S&P/ASX200 Gained 3.11% in Five Days: What Investors Need to Know

August 10, 2020 10:30 PM AEST | By Team Kalkine Media

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Market Update: S&P/ASX200 Gained 3.11% in Five Days: What Investors Need to Know

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On 10^th August 2020, the equity market of Australia ended in green, and benchmark index S&P/ASX200 rose by 105.4 points to 6110.2. During the last five days, the index has gained 3.11%. S&P/ASX 200 Consumer Staples (Sector) moved up by 284.3 points to 13,295.6. At the close of same session, All Ordinaires stood at 6247.1 with a rise of 102.2 points.

On ASX, the share price of Mesoblast Limited (ASX: MSB) rose by 10.682% to $4.870 per share. The stock of Credit Corp Group Limited (ASX: CCP) went up by 6.678% to $19.010 per share.

Stock Performance (Source: ASX)

S&P/NZX50 settled the session at 11,683, reflecting a rise of 0.32%. The share price of Just Life Group Limited (NZX: JLG) soared by 14.94% to NZ$0.500 per share. The stock of NZME Limited (NZX: NZM) inched up by 8.00% to NZ$0.270 per share. On the other hand, the share price of New Talisman Gold Mines Limited (NZX: NTL) tumbled by 14.29% to NZ$0.006 per share.

Recently, we have written some crucial information on Inghams Group Limited (ASX:ING), and the readers can click here to view the content.

Mesoblast Limited Finished Capital Raising of US$90 Million

Mesoblast Limited (ASX:MSB) recently released an activity report for the quarter ended 30^th June 2020, wherein, it reported net cash used in the operating activities of US$19.6 million. The company incurred US$6.7 million on research and development. At the end of June 2020 quarter, the cash balance of the company stood at US$129.3 million. In the month of May 2020, the company finished capital raising of US$90 million from global institutional investors.

Credit Corp Group Limited Ended in Green on 10^th August 2020.

For FY20, Credit Corp Group Limited (ASX:CCP) posted net profit after tax (NPAT) amounting to $15.5 million after accounting for impairment of purchased debt ledger (or PDL) assets as well as additional provisioning arising from the impact of coronavirus.

During 2H FY20, the company managed to drive $110 million in free cash flow, which was supplemented with an equity raising of $152 million. The company possesses a robust balance sheet having cash as well as undrawn lines amounting to $400 million.

For FY21, the company expects to report $175 million in free cash flow. CCP is likely to deliver NPAT in the range of $60 million to $75 million and EPS of between 89 cents to 112 cents.

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