On 22nd June 2020, equity market of Australia closed in green, and S&P/ASX200 stood at 5944.5 with a rise of 1.9 points. Most of the sectors on ASX closed in green such as S&P/ASX 200 Health Care (Sector), which moved up by 119.3 points to 42,071.7. S&P/ASX 200 Materials (Sector) settled at 13,233.7, indicating a rise of 221.8 points. All Ordinaries ended the session at 6058, indicating a fall of 3.6 points.
The stock price of Saracen Mineral Holdings Limited (ASX: SAR) stood at $5.120 with an increase of 8.475%.
The following image provides a broad overview as to how the share price of SAR has trended in the span of three months:
Stock Performance (Source: ASX)
On June 22, 2020, S&P/NZX50 witnessed a decline of 0.86% to 11,158. The stock of Me Today Limited (NZX: MEE) experienced a rise of 11.11% to NZ$0.140 per share. The share price of SmartPay Holdings Limited (NZX: SPY) soared by 6.67% to NZ$ 0.640 per share. On the other hand, the stock of New Talisman Gold Mines Limited (NZX: NTL) tumbled by 12.50% to NZ$0.007 per share.
Recently, we have written some crucial information on Noxopharm Limited (ASX:NOX), and the readers can view the article by clicking here.
Austal Limited Ended in Green on 22nd June 2020
Austal Limited (ASX: ASB) has recently announced that the US Department of Defense has declared US$50 million Defense Production Act Title III Agreement (DPA) in support of U.S. Navy Shipbuilding Industrial Base with Austal USA. The company added that the DPA Agreement will maintain, protect, and expand U.S. domestic production of steel shipbuilding capability and capacity via capital projects which will be executed in the upcoming 24 months. ASB would match the DPA agreement funding, which would take the total investment to around US$100 million. The stock of Austal Limited is up by 9.524% due to the announcement of DPA agreement.
James Hardie Industries plc Rose 7.266% on Australian Securities Exchange (ASX)
James Hardie Industries plc (ASX: JHX) has recently upgraded its guidance for Q1 FY21. North America adjusted EBIT margin is anticipated in the range of 27% - 29%. JHX expects liquidity of over US$640 million as at 30 June 2020. During Q4 FY20, the company reported net operating profit after tax amounting to US$86.6 million. During the quarter, Asia Pacific segment of the company managed to deliver good financial returns with revenue growth of 2% and adjusted EBIT growth of 4%. The company added that the full-year result was generated by its strong North America performance. In the release dated June 22, 2020, the company stated that, in North America, housing market activity has improved steadily during the past seven weeks despite coronavirus pandemic. The share price of JHX is up by 7.266% due to the release of upgraded guidance for Q1 FY21.
There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.
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