Market News
Monday Movers – Top 10 ASX Companies Today
The S&P/ASX 200 Index was up 2.2 percent with one of the better performance in a single trading day in recent weeks as stocks across most sectors improved today.
Mining blue chips recovered mostly from last Friday’s slump, as Fortescue Metals Group (ASX:FMG) surged 1.9 percent while both BHP Group (ASX:BHP) and Rio Tinto (ASX:RIO) finished 1.3 percent higher.
Banking blue chips Macquarie Group (ASX:MQG) posted the strongest gains with 3.5 percent while National Australia Bank (ASX:NAB) was up 2.7 percent, ANZ (ASX:ANZ) firmed 2.4 percent and Westpac (ASX:WBC) rose 2.1 percent. Meanwhile, Commonwealth Bank of Australia (ASX:CBA) moved up slightly at 0.5 percent.
Travel and Aviation sectors both closed strongly today with standout performers Flight Centre (ASX:FLT) and Webjet (ASX:WEB) both rose 15.2 percent and 15.6 percent respectively.
Other high flyers include national airlines Qantas (ASX:QAN) soaring 7.2 percent while airport operators Auckland Airport (ASX:AIA) picked up 4.2 percent and Sydney Airport (ASX:SYD) landed 3.9 percent gains.
Archer Materials Ltd (ASX:AXE)
Archer stole the top spot today at almost 30 percent gaining having just ranked 2nd last Friday. AXE announced on 11 May that the company’s exclusively licensed European patent application filed under the Patent Cooperation Treaty to protect and commercialise intellectual property associated to the 12CQ quantum computing chip materials technology (“IP”), has now proceeded to the substantial examination stage in Europe.
Impedimed Ltd (ASX:IPD)
On 6 May, IPD received over USD 1.1 million from the US CARES loan, which was is designed to help businesses maintain their workforce on the books during this current COVID-19 pandemic. IPD was recently covered in the Lymphedema Diagnostics Market 2020 In Depth Study on 22 May and Research on Bioimpedance Measuring Devices Market (Impact Of Covid-19) 2020-2026 on 24 May where is pit against top manufacturers globally such as General Electric, Omron and Tanita to name a few.
Novonix Ltd (ASX:NVX)
On 15 May, NVX announced it has a breakthrough in making battery materials and traded at an astounding 36 percent higher. On 19 May, it was still on the rise with share price at 15.3 percent higher after the bell to continue its fine run after it has filed a patent for the new battery making process. Today, NVX trades at almost 27 percent to continue its fine run for the last 10 days.
Apollo Tourism & Leisure Ltd (ASX:ATL)
As tourism and travel begins to see signs of recovery after loosening of COVID-19 lockdown measures across Australia, ATL is seeing a return of Australian RV orders begin to spike since early May. ATL was hit badly during the outbreak, as it saw its share price plunged 83 percent in the first 3 months of 2020. Today’s 18.6 percent increase marks a fine run in the last 2 months as more travel and leisure companies are coming out of the woods.
iCar Asia Limited (ASX:ICQ)
iCar Asia rose 17.3 percent to round up the top 5 spot today. Despite the COVID-19 pandemic hitting many sectors hard – particularly automotive and travel-related companies – iCar performed admirably as revenue was up 18 percent year-on-year at the end of April amid strong business growth in Thailand, one of iCar’s largest market. On 14 May, it had a year-to-date revenue of AUD 4.3 million with net looses of AUD 400,000.
Honorable Mention:
Recce Pharmaceuticals Ltd (ASX:RCE)
Since announcing positive results of RECCE® 327 against Neisseria gonorrhoeae in STD Animal Model, Recce has been climbing steadily since the end of March with a strong today to close at 14 percent higher. If you are keen to view the latest presentation dated 21 May 2020, visit: https://bit.ly/2yu5myL
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