At the close of the trading session on 13th July 2020, equity market of Australia ended in green. S&P/ASX200 stood at 5977.5 with a rise of 58.3 points. Most of the sectors on ASX closed in green such as S&P/ASX 200 Consumer Staples (Sector), which moved up by 91.8 points to 12,959.7. S&P/ASX 200 Financials (Sector) settled at 4,857.1, reflecting a rise of 1.63%. At the close of the same session, All Ordinaries ended at 6089.3 with an increase of 53 points.
Stock Performance (Source: ASX)
S&P/NZX50 experienced a rise of 0.35% and closed the trading session at 11,435. The share price of Blackwell Global Holdings Limited (NZX: BGI) rose by 8.33% to NZ$0.026 per share. The stock of Comvita Limited (NZX: CVT) soared by 5.47% to NZ$2.890 per share. On the other hand, the stock of Restaurant Brands NZ Limited (NZX: RBD) tumbled by 6.30% to NZ$11.310 per share.
Recently, we have written some crucial information on Shree Minerals Limited (ASX: SHH), and the readers can view the content by clicking here.
PTM Ended the Session in Green
Platinum Asset Management Limited (ASX: PTM) recently announced that it witnessed net outflows of ~$213 million in the month of June 2020. This included net outflows from the Platinum Trust Funds of circa $211 million. However, the net outflows do not include the impact of the cash distribution to unit holders of $532 million or the distribution re-investment of $374 million. For the year ended 30th June 2020, the company expects performance fees of approximately $9 million. During 1H FY20, the company reported a growth of 15.5% in total revenue because of mark to market gains on seed investments.
VUK Expects Net Interest Margin Between 155 bps-160 bps for FY 2020
Virgin Money UK PLC (ASX: VUK) recently stated that Fiona MacLeod will step down from the position of Non-Executive Director on 30 September 2020. During 1H FY20, VUK experienced a balance sheet mix optimisation with loan growth of 0.3% to £73.2 billion and deposit growth of 1.4% to £64.7 billion. Underlying profit for the period stood at £120 million, reflecting a fall of 58% on a YoY basis, largely due to the COVID-19 impairment charge. Statutory profit after tax amounted to £22 million, which reflects exceptional items of £127 million, including integration & transformation costs of £61 million. For FY20, VUK anticipates net interest margin in the range of 155 bps-160 bps and operating costs of less than £920 million.