The S&P/ASX 200 Index (ASX: XJO) went up 1.3%, it started the week strongly. Investors are feeling more confident about the situation now that restrictions are starting to lift.
Whilst Australia’s leaders are telling people not to get complacent, various rules around the country are starting to become a bit more relaxed.
Here are some of the highlights from the ASX 200 today:
Large ASX 200 share price gains
Some ASX 200 businesses saw share prices rise considerably today.
The share price of Webjet Limited (ASX: WEB) rose by 19.5%.
Southern Cross Media Group Ltd (ASX: SXL) saw its share price go up 18.5%.
The share price of NRW Holdings Limited (ASX: NWH) grew by 12.2%.
AP Eagers Ltd (ASX: APE) saw its share price rise by 10.8%.
Cochlear Limited (ASX: COH)
The ASX 200 hearing device business saw a 5% rise in its share price today despite outlining a significant fall in revenue.
Compared to April 2019, sales revenue across the company declined 60% in April 2020. Cochlear implant unit sales fell by 80% across developed markets, with most elective surgeries postponed across the US and Western Europe.
The bright spot was China where surgeries recommenced in late February and continued to recover throughout April. Surgeries are now running close to pre-virus run rates despite Beijing, the largest surgery centre, remaining largely closed to elective surgery.
Suncorp Group Ltd (ASX: SUN)
The ASX 200 financial business saw its share price rise 4.2% today after also giving an update.
It was announced CEO of Banking and Wealth Lee Hatton will be leaving the organisation at the end of the month.
At 31 March 2020 it had excess group common equity tier 1 (CET1) capital of $682 million at 31 March 2020.
On the insurance side of things Suncorp is expecting gross written premiums to be impacted by lower economic activity, however it’s expecting lower consumer motor claims volumes. It said it’s expecting increased landlord loss of rent claims.
The final dividend will be considered though the year end process.
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Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Cochlear Ltd. The Motley Fool Australia owns shares of and has recommended Webjet Ltd. The Motley Fool Australia has recommended Cochlear Ltd. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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