Market Update: Understanding the Performance of Markets on 20th July 2020

July 20, 2020 09:11 PM AEST | By Team Kalkine Media

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Market Update: Understanding the Performance of Markets on 20th July 2020

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On 20^th July 2020, equity market of Australia ended in red and the benchmark index S&P/ASX200 experienced a decline of 32 points to 6001.6. Most of the sectors on ASX ended in red such as S&P/ASX 200 Consumer Discretionary (Sector), which went down by 27.7 points to 2,444.3. S&P/ASX 200 Energy (Sector) stood at 7,186.9 with a fall of 193.1 points. At the end of the same session, All Ordinaries moved down by 32.6 points to 6112.3.

On ASX, the share price of Resolute Mining Limited (ASX: RSG) went up by 4.762% to $1.210 per share. The stock of Afterpay Limited (ASX: APT) inched up by 3.147% to $69.490 per share.

Stock Performance (Source: ASX)

S&P/NZX50 witnessed a decline of 0.27% and closed the session at 11,553. The share price of New Talisman Gold Mines Limited (NZX: NTL) rose by 16.67% to NZ$0.007 per share. The stock of Blackwell Global Holdings Limited (NZX: BGI) soared by 12.00% to NZ$0.056 per share. On the other hand, the stock of Geo Limited (NZX: GEO) plunged by 5.08% to NZ$0.056 per share.

Recently, we have written some crucial information on Krakatoa Resources Limited (ASX:KTA), and the readers can view the content by clicking here.

A Recent Update on RSG

Resolute Mining Limited (ASX:RSG) recently announced that successful extension exploration drilling programs, mine design improvements, as well as optimisation of mine scheduling work undertaken at Mako Gold Mine in Senegal has resulted in material improvements to an updated Life of Mine Plan.

The company added that the updated LOM has generated 39% increase in total gold production as well as a mine life extension of two further years of production. Mako is expected to have a total mine life of nine years and produce a total of 1.24 Mn ounces of gold.

Afterpay Limited Ended in Green on 20^th July 2020

Afterpay Limited (ASX:APT) recently notified the market that its customers can now use Apple Pay to make purchases via Afterpay in physical retail stores and online. During Q4 FY20, the company reported underlying sales amounting to $3.8 billion with a rise of 127%. The sales performance in Q4 FY20 reflected the highest quarterly performance, indicating the accelerating shift to e-commerce spending. For FY20, the company expects merchant revenue margins to be in line with or better than 1H FY20 and FY19.

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