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Tuesday’s Top 10 ASX Companies



10 ASX Companies That Performed On Top Today - 2 June 2020

The S&P/ASX 200 Index closed relatively flat today at 0.3 percent higher.

Zip Co (ASX:Z1P) skyrocketed 38.7 percent after news of its latest buyout of New York-based QuadPay for AUD 403 million as they look to expand into the largest retail in the world, USA, worth over USD 5 trillion or approximately 15 times of the Australian market. This puts pressure on its nearest competitor in US, Afterpay (ASX:APT), as both ASX-listed firms are looking to dominate the US market.

Scentre Group (ASX:SCG) surged 5.5 percent while Macquarie Group (ASX:MQG) and Transurban (ASX:TCL) rose 2.6 percent and 1.6 percent respectively. Elsewhere, Perenti Global (ASX:PRN) soared 13.4 percent, Domain Holdings (ASX:DHG) firmed 9.9 percent and Boral (ASX:BLD) continued its streak to close 6.3 percent higher in spite of Monday’s healthy 6.7 percent increase.

The blue chips that took most of the drop today includes Newcrest Mining (ASX:NCM) sliding 2.2 percent, Westpac (ASX:WBC) losing 0.9 percent and BHP Group (ASX:BHP) trading 0.8 percent lower.

Top 10 Performing ASX Companies Today With Market Cap Above AUD 50M

Zip Co Ltd (ASX:Z1P)
Z1P topped our chart with an impressive 38.7 gained in a single trading day, after news of its full acquisition in QuadPay for AUD 403 million to put further pressure with fellow “buy now, pay later” competitor, Afterpay (ASX:APT). This follows fresh news on Monday of an American PE firm inject funds as they bid to penetrate the ever growing retail market in the US. The convertible notes are believe to worth in the region of AUD 100-200 million.

Novonix Ltd (ASX:NVX)
On 15 May, NVX announced it has a breakthrough in making battery materials and trading at an astounding 36 percent higher. On 19 May, it was up 15.3 percent after the bell to continue its fine run after it has filed a patent for the new battery making process. Today, it trades at an astonishing 31.7 percent to carry its momentum from May.

Splitit Payments Ltd (ASX:SPT)
Card-based instalment payment solutions provider SPT rose 29.3 percent today after its announcement of quarterly update on Monday that constitutes encouraging news. Merchant sales volume (MSV) is reported to had improved by over 18 percent to USD 23.7 million as compared to previous corresponding period. Revenue was up a massive 104 percent to USD 657,000 on pcp. Merchants numbers were up 108% to 862.

Aurelia Metals Ltd (ASX:AMI)
AMI released encouraging quarter to date production figures earlier today to put its share over 24 percent higher than Monday despite the global COVID-19 pandemic. The preliminary figures include Gold – 16.3koz; Copper – 1.25kt; Lead: – 3.3kt and Zinc – 2.3kt. These puts AMI on track for a major improvement in its quarter-on-quarter production results.

Openpay Group Ltd (ASX:OPY)
On Monday, OPY finished the day up 26.7 percent after announcing it had secured GBP 25m in funding from Global Growth Capital to support its UK business. The company had released their quarterly updated on the 30th of April 2020. In Australia, the company has launched ‘Openpay for Business’ with Woolworths as its inaugural client. Integration is underway with revenues expected from H1FY21. Today, it is up a further 21.7 percent to continue its fine run.

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