Blackmores (ASX:BKL) completes SPP: ASX closes 1.5% lower

Market Reports

by Rachael Jones

The Australian share market peaked around lunchtime, and managed to close 1.5 per cent lower. Northern Star Resources (ASX:NST) saw a rise in their shares today. Shares in Domain Holdings (ASX:DHG) took a dip.

The S&P/ASX200 index

At the closing bell the S&P/ASX 200 index closed 93 points lower to finish at 5,920.

Futures market

Dow futures are suggesting a fall of 82 points.
S&P 500 futures are eyeing a fall of 10 points.
The Nasdaq futures are eyeing a dip of 18 points.
And the ASX200 futures are eyeing a 105 point fall tomorrow morning.

Company news

Blackmores (ASX:BKL) has successfully completed its Share Purchase Plan (“SPP”) which was announced on 27 May 2020, raising approximately $49 million. The SPP received strong support with approximately $77 million of valid applications from eligible shareholders, exceeding the target size of $25 million for the SPP. Given the strong support by shareholders, Blackmores has decided to increase the SPP size by $24 million above its original target. Shares in Blackmores (ASX:BKL) closed 2.2 per cent lower at $75.64.

Afterpay (ASX:APT) successfully raised $650 million via a fully underwritten institutional placement that was strongly supported by existing and new shareholders. Placement was priced at $66.00 per share.

Select Harvests (ASX:SHV) says harvest has been completed and 100 per cent of the 2020 crop has been delivered to their Carina West processing facility. With 60 per cent of the crop processed they estimate the crop volume to be approximately 23,000 MT (2019 crop volume was 22,690 MT).

Installment payment company Splitit Payments (ASX:SPT) has posted record Merchant Sales Volume up 176 per cent on Q1 FY20 and up 260 per cent over Q2 FY19, due to the addition of new large merchants.

Best and worst performers of the day

The best performing sector was Consumer staples adding 0.5 per cent while the worst performing sector was Healthcare, shedding 2.8 per cent.

The best performing stock in the S&P/ASX 200 was Northern Star Resources (ASX:NST) rising 6.5 per cent to $14.84, followed by shares in Perseus Mining (ASX:PRU) and Cooper Energy (ASX:COE).

The worst performing stock in the S&P/ASX 200 is Domain Holdings (ASX:DHG) dropping 9.8 per cent to $3.14, followed by shares in Alumina (ASX:AWC) and Polynovo (ASX:PNV).

Asian markets

Mixed: Japan’s Nikkei has lost0.8 per cent, Hong Kong’s Hang Seng has gained 0.1 per cent and the Shanghai Composite has gained 1.2 per cent.

Commodities and the dollar

Gold is trading at US$1,793 an ounce.
Iron ore price is 1.7 higher at US$103.01
Iron ore futures are pointing to a rise of 2.9 per cent.
Light crude is US$0.26 lower at US$40.44 a barrel.
One Australian dollar is buying 69.31US cents.