Wren Advisers Daily Update
Summary: Wednesday 3-June-2020
Australia Value Chg
S&P/ASX All Ordinaries Index 6,064.9 229.8
S&P/ASX 200 Index 5,890.9 -69.2
ASX Volume (million) 3,676.1 240.2
ASX Advances 711 ---
ASX Declines 553 ---
ASX Value ($ million) 8,030.9 1,504.6
RBA cash rate 0.25 0.00
90 day bank bill rate 0.09 0.00
10 year Treasury bond yield 0.97 0.06
AUD/USD 0.6940 0.0137
AUD/TWI 60.9 1.1
USD/JPY 108.59 0.89
EUR/USD 1.1204 0.0070
Asia Value Chg
Nikkei 225 Index     ---     ---
Hang Seng Index     ---     ---
Europe Value Chg
FTSE 100 Index     ---     ---
DAX Index     ---     ---
North America Value Chg
Dow Jones Industrial Average     ---     ---
NYSE Volume (million)     ---     ---
NYSE Advances     --- ---
NYSE Declines     --- ---
NASDAQ Composite Index     ---     ---
NASDAQ Volume (million)     ---     ---
NASDAQ Advances     --- ---
NASDAQ Declines     --- ---
US 3 month Treasury bill rate     ---     ---
US 10 year Treasury bond yield     ---     ---
Commodities Value Chg
London PM gold price (US$/oz)     ---     ---
WTI crude oil price (US$/bbl)     ---     ---
Market News
Local share market and the A$ surge higher despite a weak lead from Wall Street. Gold shares slump as the bullion price drops by US$12.40 to US$1726.90 per ounce. Among the worst performers are Perseus Mining (PRU) -12.3%, Silver Lake Resources (SLR) -8.4%, Westgold Resources (WGX) -6.7% and Regis Resources (RRL) -6.6%.

S&P/ASX 200 Intraday

The Big Four banks underpin the day's rally with ANZ Banking Group (ANZ) +5.0%, National Australia Bank (NAB) +4.6%, Westpac Banking Corp (WBC) +4.4% and Commonwealth Bank (CBA) +3.3%.

The frantic demand for buy-now-pay-later stocks continues with Openpay Group (OPY) +51.8%, Zip Co (Z1P) +22.1%, Sezzle Inc (SZL) +7.3% and FlexiGroup (FXL) +6.0%. Afterpay (APT) gains 5.5% to finish at a new record high of $52.26.

ABS figures show the Australian economy contracted by 0.3% in the March quarter of 2020. Yearly growth was 1.4%. The terms of trade rose 2.9% and the household saving ratio increased from 3.5% to 5.5%. In other data, building approvals fell 1.8% in April 2020 but are still 5.7% higher than a year ago.

S&P/ASX Sector Indices (% change)

Infigen Energy (IFN) leaps 36.4% to $0.805 after receiving an all-cash takeover bid at $0.80 per share from UAC Energy Holdings, a joint venture between UPC Renewables Group and Philippines-based AC Energy.

Seven West Media (SWM) climbs 28.6% despite telling the ASX that it cannot explain the recent sharp jump in its share price and trading volumes.

Amaysim Australia (AYS) jumps 16.7% after announcing plans to buy OVO Mobile's 77,000 mobile subscribers for a maximum consideration of $15.8 million.

ASX Market Moving Stocks







WARNING: While all care has been taken in the preparation of this database (using sources believed to be reliable and accurate), we do not accept responsibility for any loss suffered by any person arising from reliance on this information. This update must not be reproduced in whole or in part without the express written consent of Wren Advisers. The information is of a general nature only and has not been prepared to take into account any particular investor's objectives, financial situation or needs. Investors should seek professional advice from a financial adviser before making any investment decisions based on this information. All figures in Australian dollars unless otherwise indicated.


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