Market Update: Understanding the Performance of Markets on 10th June 2020

June 10, 2020 09:15 PM AEST | By Team Kalkine Media

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Market Update: Understanding the Performance of Markets on 10th June 2020

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At the end of the trading session on 10^th June 2020, equity market of Australia settled in green. S&P/ASX200 stood at 6148.4, reflecting a rise of 3.5 points or 0.06%. Most of the sectors on ASX closed in green such as S&P/ASX 200 Health Care (Sector), which went up by 757.9 points to 41,568.7. S&P/ASX 200 Information Technology (Sector) ended the day at 1,543.1, with an increase of 3.09%. All Ordinaries moved up by 6.4 points and closed the session at 6269.3.

On ASX, the share price of Saracen Mineral Holdings Limited (ASX: SAR) zoomed up by 8.491% to $4.600 per share. The stock of Harvey Norman Holdings Limited (ASX:HVN) is up by 7.324% due to the announcement of a special dividend.

Stock Performance (Source: ASX)

Coming to New Zealand Market, S&P/NZX50 stood at 11,261, indicating a fall of 0.36%. The stock of Blackwell Global Holdings Limited (NZX: BGI) rose by 42.86% on an intraday basis to NZ$0.010 per share. On the other hand, the stock of TRS Investments Ltd (NZX: TRS) tumbled by 33.33% and stood at NZ$0.002 per share.

Recently, we have written an article on Wesfarmers Limited (ASX:WES), and the readers can view the content by clicking here.

Saracen Mineral Holdings Limited Gained 8.491% on the Australian Securities Exchange.

Saracen Mineral Holdings Limited (ASX:SAR) recently announced that Managing Director Raleigh Finlayson has sold 500,000 shares in the company at an average price of $5.48 per share. The company has appointed Sally Langer on the position of Independent Non-Executive Director. During the quarter ended March 2020, the company reported record quarterly gold production of 158,132 ounces at AISC of $1,133/oz while production for the nine months ended 31 March 2020 stood at 374,584oz at AISC of $1,081/oz.

The company reported gold sales of 165,798oz and this was done at the record average price of A$2,228/oz during the quarter. As at 31^st March 2020, the cash and cash equivalents of the company stood at $340.3 million.

Harvey Norman Holdings Limited Ended in Green on 10^th June 2020

Harvey Norman Holdings Limited (ASX:HVN) has recently provided a retail trading update, wherein, it stated that it operates 39 stores in New Zealand, which were temporarily closed from 26^th March 2020 to 13^th May 2020 pursuant to Level 4 Restrictions in New Zealand. However, all 39 stores reopened on 14^th May 2020 for all product categories. Online trade was temporarily closed from 26^th March 2020 to 30th March 2020. However, online trade resumed from March 31, 2020 for the essential products only and from April 28, 2020 for all the other product categories.

In another update, the company announced a special dividend of 6.0 cents per share (fully franked), which will be paid on 29^th June 2020.

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