Market Update:How Markets Performed on 23rd June 2020?

  • Jun 23, 2020 AEST
  • Team Kalkine
Market Update:How Markets Performed on 23rd June 2020?

At the close of the trading session on 23rd June 2020, equity market of Australia settled in green. The benchmark index S&P/ASX200 went up by 9.9 points to 5954.4. S&P/ASX 200 Information Technology (Sector) stood at 1,572.2 with an increase of 4.7 points. S&P/ASX 200 Consumer Discretionary (Sector) closed the session at 2,450.6, indicating an increase of 28.1 points. All Ordinaries stood at 6069.3 with a rise of 11.3 points or 0.19% at the end of the same trading session.

The stock price of Mesoblast Limited (ASX: MSB) ended the session in red as there was a fall of 8.378% on an intraday basis to A$3.390 per share. The following image provides a broad overview as to how the share price of MSB has trended in the span of past 3 months:

Stock Performance (Source: ASX)

S&P/NZX50 experienced a fall of 0.23% to 11,133. The share price of TRS Investments Ltd (NZX: TRS) witnessed a sharp rise of 50% and settled at NZ$0.003 per share. The stock of Smartpay Holdings Limited (NZX: SPY) rose by 14.84% to NZ$0.735 per share. On the other hand, the stock of Pacific Edge Limited (NZX: PEB) plunged by 7.27% to NZ$0.255 per share.

Recently, we have written an article on VRX Silica Limited (ASX:VRX), and the readers can click here to view the content.

Western Areas Limited Rose 16.017% on ASX

Western Areas Limited (ASX: WSA) recently announced the highly encouraging results from the first diamond drill hole at the Sahara prospect. The company added that the first diamond hole has intersected over 200 metre (down-hole length) of nickel and copper bearing sulphides hosted by a thick pyroxenite intrusive body. WSA mentioned in the release that it targeted this area due to its geological similarities to Nova-Bollinger as well as Nebo-Babel nickel/copper deposits.

Notably, the result adds to the belief that the area can host similar mineral accumulations. In another update, the company announced that it has become a substantial holder in Panoramic Resources Limited with the voting power of 19.9% on 1st June 2020. The stock of Western Areas Limited is up by 16.017% due to the release of highly encouraging drilling results.

AMP Limited Ended in Green on 23rd June 2020

AMP Limited (ASX: AMP) recently stated that it has received all regulatory approvals for the sale of AMP Life to Resolution Life. The company anticipates that the sale will be completed on 30th June 2020. In another update, the company announced that it has appointed Boe Pahari for the role of Chief Executive Officer of AMP Capital, which will be effective from 1st July 2020. During Q1 FY20, the company reported total AUM of AMP Capital amounting to A$192.4 billion. AMP Capital net external cash flows stood at A$1.3 billion, reflecting robust inflows into fixed income products managed by China Life AMP Asset Management. Australian wealth management cash inflows rose A$1.1 Bn primarily because of robust inflows into North. The stock of AMP Limited went up by 7.932% due to the regulatory approval for the sale of AMP Life.

 


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