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.
There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.
Are you wondering if the year 2020 might not have taken the right start? Dividend stocks could be the answer to that question.
As interest rates in Australia are already at record low levels, find out which dividend stocks are viewed as the most attractive investment opportunity in the current scenario in our report.