Market Update: Understanding the Performance of Australian Markets on July 16, 2020

  • Jul 16, 2020 AEST
  • Team Kalkine
Market Update: Understanding the Performance of Australian Markets on July 16, 2020

On July 16, 2020, S&P/ASX200 ended the session in red as the index witnessed a fall of 0.69% or 42 points to 6010.9. On the same day, All Ordinaries encountered a fall of 37.4 points or 0.61% to 6123.

S&P/ASX 200 Information Technology (Sector) ended in red as there was a fall of 1.17% to 1637.9 and S&P/ASX 200 Industrials (Sector) rose by 0.29% to 5615.0. We will now have a quick look at the performance of individual stocks.

On July 16, 2020, the share price of Whitehaven Coal Limited (ASX: WHC) witnessed a rise of 6.355% on an intraday basis to A$1.590 per share. On the same day, the stock price of Cooper Energy Limited (ASX: COE) rose by 6.329% to A$0.420 per share.

S&P/NZX50 ended the session at 11,505, reflecting a fall of 0.91% and S&P/NZX20 fell by 1.05% to 7,660. The share price of TIL Logistics Group Ltd (NZX: TLL) rose by 6.76% to NZ$0.790 per share. Also, the stock price of Vista Group International Ltd (NZX: VGL) increased 7.20% to NZ$1.340 per share.

Recently, we have written important information on Ora Banda Mining Limited (ASX: OBM) and investors can click here to view the content provided.

MMS Ended the Session in Green: A Brief Look

McMillan Shakespeare Limited (ASX: MMS) recently made an announcement about the update on the business as it recovers from the impacts of the coronavirus containment measures. The company stated that its salary packaging business continues to be largely unaffected by COVID-19 containment measures.

Plan Partners has not witnessed any disruption to the business due to coronavirus containment measures. The company stated that the business continues to increase customer base as well as profitability.

The company anticipates that its underlying net profit after tax for the year to June 30, 2020 would be ~$69 Mn - $72 Mn.

On July 16, 2020, the share price of MMS rose by 4.348% on an intraday basis to A$9.360 per share.

CKF Encountered Revenue Growth of 8.9% in FY 2020

On June 30, 2020, Collins Foods Limited (ASX: CKF) made an announcement about the results for FY20 period. The company witnessed robust earnings growth despite the impact of coronavirus. The company’s revenue witnessed a rise of 8.9% to $981.7 Mn as compared to $901.2 Mn in FY 2019.

On July 16, 2020, the stock price of CKF witnessed a rise of 4.009% on an intraday basis to A$9.600 per share.


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