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Market Update: Understanding the Performance of Markets on 5th May 2020

  • May 05, 2020 08:30 PM AEST
  • Team Kalkine
Market Update: Understanding the Performance of Markets on 5th May 2020

The equity market of Australia closed in green at the end of the session on 5th May 2020. The S&P/ASX200 went up by 1.64% to 5407.1, and the index has gained 1.77% over the last five days. Most of the sectors on ASX settled in green such as S&P/ASX 200 Energy (Sector), which inched up by 4.17% to 7,157.0. S&P/ASX 200 Information Technology (Sector) closed the day at 1,344.1, reflecting an increase of 36.6 points on an intraday basis. At the end of the same session, All Ordinaries ended at 5478.1, up by 88.6 points.

On ASX, Collins Foods Limited (ASX: CKF) moved up by 11.628% to $7.680 per share. PolyNovo Limited (ASX: PNV) settled at $2.290 per share with a rise of 11.165%.

S&P/NZX50 was up by 0.14% to 10,491 at the close of the trading session on 5th May 2020. Asset Plus Limited (NZX: APL) soared 10.81% to NZ$0.410 per share. Kathmandu Holdings Limited (NZX: KMD) rose by 10.67% and settled at NZ$0.830. On the other hand, Moa Group Limited (NZX: MOA) plunged 7.06% to NZ$0.158 per share.

Recently, we have written an article on Musgrave Minerals Limited (ASX: MGV), and the readers can click here to view the information.

Collins Foods Limited Ended in Green on 5th May 2020

Collins Foods Limited (ASX: CKF) has recently updated the market with the impact of COVID-19 pandemic on its business and sales trends over the last five weeks of FY20. The company stated that since the start of the COVID-19 pandemic, CKF has further improved its procedures to ensure the health and safety of its employees and customers. During this difficult period, KFC Australia has continued to show improvements in sale trends. During the period, the same store sales (SSS) experienced a marginal fall of 0.9% against the previous year. The KFC Food Courts have been heavily impacted because of the significant decline in shopping mall foot-traffic. The company is well placed to manage through the recovery period of the respective markets in which it operates. The company possesses a strong balance sheet with availability of significant headroom for its current debt facilities and covenants.

PolyNovo Limited Rose 11.165% on Australian Stock Exchange

PolyNovo Limited (ASX: PNV), recently in a presentation, stated that it has developed the NovoSorb® polymer further with foaming process and new formulations for medical devices. In the near-term, it has addressable market of over $7.5 billion. The company also changed the position of Paul Brennan from Chief Executive Officer to Managing Director. During March 2020 quarter, the company witnessed a robust rise of 166% in sales as compared to March 2019 quarter. PNV opened six new hospital accounts, which include four major hospitals across the US in the last two weeks of March. The company has secured a debt finance facility amounting to $9.3 million with National Australia Bank.

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