Market Update: Understanding the Performance of Markets on 6th July 2020

  • Jul 06, 2020 AEST
  • Team Kalkine
Market Update: Understanding the Performance of Markets on 6th July 2020

On 6th July 2020, the equity market of Australia ended in red, and the benchmark index S&P/ASX200 went down by 43.3 points to 6014.6. The index has gained 3.43% during the last five days. S&P/ASX 200 Materials (Sector) experienced a fall of 162.1 points to 13,339.2. S&P/ASX 200 Utilities (Sector) moved down by 0.12% to 7,787.8. All Ordinaries stood at 6125.9   with a fall of 37.8 points at the end of the same session.

On ASX, the share price of Mesoblast Limited (ASX: MSB) rose by 11.276% to $3.750 per share. The stock of oOh!Media Limited (ASX: OML) inched up by 9.29% and settled the day at $1.000 per share.

Stock Performance (Source: ASX)

S&P/NZX50 ended the trading session at 11,656, reflecting a rise of 0.77%. The share price of TRS Investments Ltd (NZX: TRS) soared by 50.00% to NZ$0.003 per share. New Talisman Gold Mines Limited’s (NZX: NTL) stock moved up by 16.67% to NZ$0.007 per share. On the other hand, the stock of TIL Logistics Group Ltd (NZX: TLL) plunged by 9.09% to NZ$0.700 per share.

Recently, we have covered some crucial information on Krakatoa Resources Limited (ASX: KTA), and the readers can click here to view the article.

Mesoblast Limited’s Stock Rose by 11.276% Due to Initiation of An Expanded Access Protocol in the US.

Mesoblast Limited (ASX: MSB) recently announced the initiation of an expanded access protocol (EAP) in the United States for compassionate use of its allogeneic mesenchymal stem cell (MSC) product candidate remestemcel-L in the treatment of COVID-19 infected children with cardiovascular and other complications of the multisystem inflammatory syndrome. For the nine months ended 31st March 2020, the company reported a substantial rise of 113% in revenue to US$31.5 million as compared to US$14.8 million for nine-months ended March 2019.

The manufacturing expenses of the company increased by US$2.5 million to US$15.4 million due to increased expenditure on pre-launch inventory for the potential launch of RYONCIL. The company closed the period with the net cash balance of US$60.1 million.

oOh!Media Limited Ended in Green on 6th July 2020.

oOh!Media Limited (ASX: OML) recently stated that Philippa Kelly has made a change to holdings in the company on 25th June 2020 by acquiring 20,000 fully paid ordinary shares for the consideration of $19,800.00. In response to COVID-19, the company has decreased discretionary spend, negotiated fixed rent expense savings with property partners and slashed its planned capital expenditure to manage its cashflow in the uncertain environment.

 

 


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