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Market Update: Understanding the Performance of Markets on 17th April 2020

  • April 17, 2020 09:43 PM AEST
  • Team Kalkine
Market Update: Understanding the Performance of Markets on 17th April 2020

The equity market of Australia closed in green on 17th April 2020 and the benchmark index S&P/ASX200 was up by 71.2 points to 5487.5. Let’s look at the performance of some sectors which closed in green. S&P/ASX 200 Consumer Discretionary (Sector) rose by 2.29% to 2,091.5 and S&P/ASX 200 Health Care (Sector) inched up by 559.2 points and settled at 45,298.2. At the close of the same day, All Ordinaries gained 1.41% to 5544.7.

Gold MTF non-AMP

We will now have a look at the companies on ASX that performed well. Mayne Pharma Group Limited (ASX: MYX) closed at $0.420 with a rise of 9.091% and Stockland (ASX: SGP) rose by 8.541% and ended at $3.050 per share. Estia Health Limited (ASX: EHE) marked the closing at $1.555, reflecting an increase of 8.362%.

S&P/NZX50 stood at 10,779 with a rise of 2.92% at the end of week’s last trading day. Blackwell Global Holdings Limited (NZX: BGI) went up by 50.00% to NZ$0.006, and Comvita Limited (NZX: CVT) soared by 25.45% and settled at NZ$3.500. When it comes to losers, Livestock Improvement Corporation Ltd (NZX: LIC) witnessed a fall of 7.89% to NZ$0.700.

Recently, we have covered some important information on Aspire Mining Limited (ASX: AKM), which could be beneficial for the investors. Readers can view the article by clicking here.

Stockland Rose 8.541% on Australian Stock Exchange

Stockland (ASX: SGP) has recently notified the market that it retains total liquidity of $850 million. Its liquidity position is supported by the addition of a new 10-year issue for HK$805 Mn (or A$180 million equivalent) under its current Euro MTN programme, bringing the available liquidity of SGP to approx. $1.3 billion. SGP has a robust balance sheet, with gearing within its target range. The company also mentioned that it has put in place additional unsecured bank debt facilities amounting to $350 million. Stockland is well positioned to navigate the current market disruption into a recovery phase on the back of strong liquidity position, access to short and long-term debt markets and disciplined cash management.

Estia Health Limited Ended in Green on 17th April 2020

Estia Health Limited (ASX: EHE) recently announced that Dimensional Entities has ceased to become a substantial holder in the company. The company has withdrawn its guidance for FY20 because of rising uncertainty due to the spread of COVID-19. However, the company has not experienced any case of COVID-19 among its residents or employees. EHE’s occupancy within its mature home portfolio stood at 93.8% as at 15th March 2020. The net debt position of EHE stood at around $106 million, along with undrawn and committed facilities under its Syndicated Financing Facility of around $216 million. During 1H FY20, the company reported profit after tax amounting to $14.3 million and capital investment of $46.3 million in new homes and improvement of existing homes.

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