Market News
Thursday’s Top 10 Companies On The ASX
The S&P/ASX 200 Index fell 0.4 percent amid a strong opening rally to put an end to a four-day winning streak.
Mining giants Fortescue Metals Group (ASX:FMG) was hit the hardest as it gave up 2.2 percent while Rio Tinto (ASX:RIO) fell 1 percent and BHP Group (ASX:BHP) loss 0.6 percent.
Banks were not spared as Commonwealth Bank (ASX:CBA) and Westpac (ASX:WBC) closed 1.7 percent and 1 percent lower respectively.
Biotech giant CSL Limited (ASX:CSL) registered a 1 percent drop while gambling machine manufacturer Aristocrat Leisure (ASX:LL) plunged 5 percent after the bell.
Afterpay (ASX:APT) continues to carry its upward momentum since the beginning of May to finish 2.6 percent higher after its US customer base surpassed the fifth-million mark.
Stavely Minerals Ltd (ASX:SVY)
SVY was again on the Top 10 charts after squeezing in the last spot on Wednesday post-trading. The mineral explorer was awarded a tax credit allocation of AUD 1.35 million while managed to complete a capital raise of AUD 4.3 million the copper-gold prospect in Western Victoria. This comes post-announcement of a major discovery of shallow high-grade copper-gold.
NRW Holdings Ltd (ASX:NWH)
Resources and Infrastructure contractor NRW rose 32.73% after a strong ASX announcement with interim dividend announced earlier today as they managed a record revenue of AUD 1.6 billion despite the COVID-19 pandemic sweeping across the globe. EBITDA is AUD 177 million while EBITA is AUD 107 million. NRW also saw major improvement in net debt of AUD 115 million as at 30 April 2020.
Purifloh Ltd (ASX:PO3)
Air and water purification company, PO3, surged 21.74% today. In a recent ASX announcement published on 30th April 2020, it was quoted: “despite some minor interruption to its activities due to the COVID-19 crisis, product development and market research activities are continuing to progress. This includes manufacture and independent validation of prototypes to be used in OEM trials and the commissioning of an Air Industry advisor to assist with commercial strategy.”
Redbubble Ltd (ASX:RBL)
RBL is an online marketplace for ‘print-on-demand’ goods which recently announced a projected revenue growth of 20% during Q3 2020 as the company expects the situation to take a turn after this quarter. RBL share price has gone up by more than 200% since 1 April and looks set to continue this trend once the COVID-19 simmers down as lockdown measures loosen across the country and people resuming their lives to a certain degree of normalcy.
Experience Co Ltd (ASX:EXP)
EXP shares rose more than 16% after one of its largest shareholder, Naos Asset Management, beefed up on its stake to 17.13% of the company. EXP is an adventure tourism company that operated for over 20 years and since 25 March, has been on a steady climb as COVID-19 begins to die down and tourism expected to rise in the weeks to follow.
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