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The equity market of Australia settled in red at the end of 2nd April 2020 and the S&P/ASX200 went down by 104.3 points to 5154.3. Let us now look at the performance of some sectors, which ended in red such as S&P/ASX 200 Information Technology (Sector), which stood at 1,045.0 with a fall of 3.61%. S&P/ASX 200 Financials (Sector) witnessed a decline of 184.1 points and closed at 4,188.5. At the end of same trading session, All Ordinaries closed at 5188.7 with a fall of 1.93%.
Despite the decline in the market, some companies on ASX performed well like G8 Education Limited (ASX: GEM), which inched up by 28.571% to $1.080. IDP Education Limited (ASX: IEL) stood at $14.750 with the gain of 27.595%. AP Eagers Limited (ASX: APE) ended at $4.010, up by 15.23%.
S&P/NZX50 closed the trading session at 9,871 with a fall of 0.56% on 2nd April 2020. Evolve Education Group Limited (NZX: EVO) gained 27.27% to NZ$0.084. Metro Performance Glass Limited (NZX: MPG) soared 11.76% and settled at NZ$0.190. On the other hand, New Talisman Gold Mines Limited (NZX: NTL) plunged 14.29% to NZ$0.006.
Recently, we have provided our inputs on Middle Island Resources Limited (ASX:MDI), which can be read by clicking here.
IDP Education Limited Rose 27.595% on Australian Stock Exchange.
IDP Education Limited (ASX:IEL) recently announced that it has successfully wrapped up a fully underwritten institutional placement of A$225 million. The company will issue 21.1 million new fully paid ordinary shares to institutional investors at a price of A$10.65 per new share. IEL has increased placement size to A$225 million from A$175 million (as announced on 1st April 2020) due to significant demand received from domestic and global investors. The company will be utilising the proceeds received from the placement to enhance the strength of the balance sheet and financial flexibility. It will also use the proceeds for supporting the business during the current macro-economic uncertainty by materially increasing liquidity. IDP will also raise an amount of A$15 million through share purchase plan (SPP), under which shareholders can purchase up to A$30,000 of new shares without incurring any brokerage or transaction costs.
AP Eagers Limited Decreased its Final Dividend Amount
AP Eagers Limited (ASX:APE) notified the market that Perpetual Limited and its related bodies corporate have ceased to become a substantial holder in the company. In another update, the company announced that it has decreased the amount of the fully franked final dividend from 22.5 cents per share to 11.25 cents per share due to rising uncertainty from COVID-19. For the full-year 2019, the company reported underlying operating profit before tax from continuing operations amounting to $100.4 million on revenue from continuing operations of $5.4 billion. The company has wrapped up a transformative merger in order to create a national dealership network, which is capable of leading through structural industry change. The company closed the financial year 2019 with strong balance sheet, which provides flexibility to pursue growth.
