Market Update: Understanding the Performance of Markets on 13th May 2020

  • May 13, 2020 AEST
  • Team Kalkine
Market Update: Understanding the Performance of Markets on 13th May 2020

At the end of the trading session on 13th May 2020, the equity market of Australia settled in green. S&P/ASX200 settled at 5421.9 with a rise of 18.9 points or 0.35%. The index has gained 0.69% over the last five days. S&P/ASX 200 Health Care (Sector) went up by 332.1 points to 43,607.8. S&P/ASX 200 Materials (Sector) ended the day at 11,729.1, reflecting an increase of 110.3 points. At the end of the session, All Ordinaries went up by 0.30% to 5513.7.

On ASX, Pilbara Minerals Limited (ASX: PLS) rose by 11.905% and ended at $0.235 per share. AVITA Medical Ltd (ASX: AVH) inched up by 8.696% to $0.500.

S&P/NZX50 ended the trading session at 10,788, indicating a fall of 0.28%. Comvita Limited (NZX: CVT) zoomed up to 6.52% and closed at NZ$4.900. Scott Technology Limited (NZX: SCT) soared 5.00% to NZ$$1.890 per share. On the other hand, New Talisman Gold Mines Limited (NZX: NTL) plunged 12.50% to NZ$0.007.

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

Pilbara Minerals Limited Rose 11.905% on Australian Stock Exchange.

Pilbara Minerals Limited (ASX: PLS) stated that its Pilgangoora project is well placed for the future of lithium raw material supply. In response to COVID-19, the company was focused on the health and safety of its people and contractor. The spodumene concentrate production during the quarter stood at 20,251 dry metric tonnes. The company completed two shipments of spodumene concentrate totalling to 33,729 dmt. At the end of the quarter, the Spodumene concentrate stock on hand stood at 11,286 dmt. The company maintained a healthy balance sheet underpinned by moderated production strategy and cost reductions measures. PLS managed to close the quarter with a cash balance of $108.2 million.

Resolute Mining Limited Ended in Green on 13th May 2020

Resolute Mining Limited (ASX: RSG) has recently notified that it has successfully wrapped up Tranche 2 of its equity raising of around $195 million. During March 2020 quarter, the company produced 110,763 ounces of gold at an AISC of US$1,007/oz. This quarter reflects a turning point in the company’s business with record tonnages achieved from the Syama Underground Mine. At the end of the quarter, the company had gold of 86,167oz in circuit inventory with a market value of around US$139 million. The company has simplified its capital structure, slashed its borrowing costs, and enhanced its financial flexibility via the completion of debt and equity capital raising. It ended the quarter with the net debt position of US$212 million, reflecting a decline of US$109 million.

 


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