Market Update: Understanding the Performance of Markets on 2nd July 2020

On 2nd July 2020, the Australian equity market ended in the green, and the S&P/ASX200 experienced a rise of 1.66% to 6032.7. Most of the sectors on ASX closed in green such as S&P/ASX 200 Energy (Sector), which moved up by 126 points to 7,626.0. S&P/ASX 200 Health Care (Sector) ended the session at 42,638.8, reflecting a rise of 767.9 points or 1.83%. At the close of the same session, All Ordinaries went up by 101.3 points to 6142.3.

On ASX, the share price of Tuas Limited (ASX: TUA) soared by 35.294% and settled at $0.690 per share. The stock of Afterpay Limited (ASX: APT) inched up by 9.512% to $68.160 per share.

APT Performance (Source: ASX)

S&P/NZX50 ended the trading session at 11,503, reflecting a rise of 1.34% on an intraday basis. New Talisman Gold Mines Limited’s (NZX: NTL) stock mounted up by 16.67% to NZ$0.007 per share. The share price of Kathmandu Holdings Limited (NZX: KMD) gained 11.40% and closed the day at NZ$1.270 per share. On the other hand, the stock of TRS Investments Ltd (NZX: TRS) tumbled by 33.33% to NZ$0.002 per share.

Recently, we have written an article on Middle Island Resources Limited (ASX: MDI), and the readers can click here to view the content.

Afterpay Limited Ended in Green on 2nd July 2020.

Afterpay Limited (ASX: APT) recently stated that Clearpay (part of APT) has reached one million active customers in the U.K during the first year of operation. During the COVID-19 crisis, Clearpay witnessed robust customer adoption rate. In the month of May 2020, Clearpay experienced over 3 million app and site visits. Moreover, the shop directory of Clearpay has contributed over 1.5 million lead referrals to its retail partners. Clearpay enables merchants to give shoppers the ability to receive products immediately and pay in four simple instalments over a short span of time.

Costa Group Holdings Limited Possesses Strong Balance Sheet.

Costa Group Holdings Limited (ASX: CGC) recently announced that Perpetual Limited and its related bodies corporate has made a change to their substantial holdings in the company on 24th June 2020 with the current voting power of 12.99% as compared to the previous voting power of 11.94%. The company possesses a strong balance sheet, cashflow and liquidity position, and this also supports ongoing operations including new plantings and farm development. During CY2019, the company reported a rise of 5.8% in revenue to $1,048 million due to new Colignan citrus farm sales and increased table grape marketing volume. The company ended the year with net debt amounting to $178.8 million and leverage of 1.82.x of EBITDA-SL.

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