Market Update: Understanding the Performance of Australian Markets on 28th April 2020

  • Apr 28, 2020 AEST
  • Team Kalkine
Market Update: Understanding the Performance of Australian Markets on 28th April 2020

At the close of trading session on 28th April 2020, Australian market ended in red. The benchmark index S&P/ASX200 went down by 8.3 points to 5313.1. S&P/ASX 300 Metals and Mining (Industry) closed at 3,842.2, down by 28.4 points. S&P/ASX 200 Health Care (Sector) fell by 0.21% and stood at 44,229.5. At the close of the same trading session, All Ordinaries closed at 5381.2, reflecting a fall of 7.1 points.

Despite a fall in the overall equity market, some companies on ASX performed well and managed to settle in green. oOh!media Limited (ASX: OML) rose by 10.39% to $0.850 per share. Corporate Travel Management Limited (ASX: CTD) went up by 9.409% and settled at $10.000 per share.

S&P/NZX50 experienced a rise of 3.26% and ended at 10,760. Good Spirits Hospitality Limited (NZX: GSH) soared 9.76% to NZ$0.090. EROAD Limited (NZX: ERD) inched up by 9.09% and settled at NZ$2.400. On the other hand, TruScreen Limited (NZX: TRU) witnessed a sharp fall of 30.30% to NZ$$0.069.

Recently, we have written some important information on Platina Resources Limited (ASX: PGM), and the readers can have a look at the same by clicking here.

oOh!media Limited Rose 10.39% on the Australian Stock Exchange (ASX)

oOh!media Limited (ASX: OML) recently announced that Joanne Crewes has made a change to holdings in the company by acquiring 33,375 fully paid ordinary shares for a consideration of $17,688.75. In another update, the company announced that it has successfully wrapped up the retail component of entitlement offer and raised around $14 million wherein it experienced a strong support from the eligible retail shareholders. OML has sold its health network assets to XTD for the cash consideration of $300,000.

Corporate Travel Management Limited Ended in Green on 28th April 2020

Corporate Travel Management Limited (ASX: CTD) recently announced that Morgan Stanley and its subsidiaries have become a substantial holder in the company with the voting power of 5.05%. In another update, the company stated that Invesco Australia Limited has made a change to their substantial holdings in the Corporate Travel with the current voting power of 11.99% against the previous voting power of 10.95%. The company is impacted by the spread of COVID-19 because of the restrictions imposed by the government on international travel and major reductions in domestic capacity. However, the company possesses a strong liquidity position and currently has no need to raise equity. CTD has a debt facility amounting to $250 million, which would be maturing in the month of August 2022. Considering the current extraordinary circumstances along with uncertainty over recovery timeframes globally, the company has made a decision to defer the payment of an interim dividend amounting to 18 cents until 2nd October 2020.



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