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

  • Jun 17, 2020 AEST
  • Team Kalkine
Market Update: Understanding the Performance of Markets on 17th June 2020

 

On 17th June 2020, the equity market of Australia ended in green, and the S&P/ASX200 moved up by 49.5 points to 5991.8. The index has lost 2.55% and 8.25% during the last five days and the last 52-weeks, respectively. S&P/ASX 200 Health Care (Sector) closed at 41,925.1, reflecting an increase of 1.37%. S&P/ASX 200 Energy (Sector) stood at 7,734.4 with a rise of 79.7 points. All Ordinaries settled at 6109.1, indicating an increase of 51 points on an intraday basis.

On ASX, the stock of CLINUVEL Pharmaceuticals Limited (ASX: CUV) experienced a rise of 8.08% to $27.020 per share. The share price of carsales.com Limited (ASX: CAR) went up by 6.195% and ended the trading session at $18.000 per share.

CUV Performance (Source: ASX)

Coming to the New Zealand market, S&P/NZX50 witnessed a sharp rise of 3.47% to 11,334 at the end of the session. The stock of Pacific Edge Limited (NZX: PEB) soared by 79.39% to NZ$0.235 per share. The stock of Me Today Limited (NZX: MEE) mounted up by 35.45% to NZ$0.149 per share. On the other hand, Abano Healthcare Group Limited’s (NZX: ABA) share price slipped by 10.30% to NZ$2.960 per share.

Recently, we have penned some crucial information on Ardiden Limited (ASX: ADV), and the readers can view the article by clicking here.

CLINUVEL Pharmaceuticals Limited Rose 8.08% on the Australian Securities Exchange

CLINUVEL Pharmaceuticals Limited (ASX: CUV) stated that its business is profitable and cash flow positive in the current situation. The company’s objective revolves around the development and delivery of new products. CUV is evolving into a diversified and integrated pharmaceutical business, providing treatments to multiple patient groups. With respect to Europe, the company is working on the reimbursement agreements to (1) distribute SCENESSE® for EPP in more European countries, (2) expand the number of Expert Centers and (3) increase patient treatment access. Over the time, the company’s financial performance has experienced decent progress through the Research & Development Phase into the Commercial Phase.

carsales.com Limited Ended in Green on 17th June 2020

carsales.com Limited (ASX: CAR) has recently updated the market with a business update, wherein it stated that overall lead and traffic volumes have experienced continuous improvement as social distancing measures have been eased in Australia. Lead volumes have been strongly increased between 22 April 2020 and 16 June 2020. Over the last six weeks, total inventory on carsales.com.au has decreased, primarily due to a reduction in time to sell because of the increased demand from car buyers following the easing of social distancing restrictions. In another update, the company announced that David Wiadrowski had made a change to their holdings in the company on 5th June 2020 by acquiring 600 ordinary shares for the consideration of $9,876. The stock of carsales.com Limited is up by 6.195%, owing to the release of the business update and FY20 results estimate.

 

 


Disclaimer
The website https://kalkinemedia.com/au is a service of Kalkine Media Pty. Ltd. A.C.N. 629 651 672. The article has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. Kalkine Media does not in any way endorse or recommend individuals, products or services that may be discussed on this site. Our publications are NOT a solicitation or recommendation to buy, sell or hold the stock of the company (or companies) or engage in any investment activity under discussion. We are neither licensed nor qualified to provide investment advice through this platform. All pictures are copyright to their respective owner(s). Kalkinemedia.com does not claim ownership of any of the pictures displayed on this website unless stated otherwise. Some of the images used on this website are taken from the web and are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it below the image.

 

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.

CLICK HERE FOR YOUR FREE REPORT!
   
x
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK