It’s been a sluggish start to trading today. On Friday lunchtime, the All Ordinaries (ASX: XAO) was 3.8% in the red.
After a positive week for the Australian Stock Exchange (ASX), today is a completely different story.
Investors are selling shares after international markets recorded large declines overnight. Only a few companies have been trading in the green today, with all four of the big banks recording big losses at lunchtime today.
The big bank’s flop – down 4% or more
Today has been a bit of a horror show for the Big Four banks in Australia.
Australia and New Zealand Banking Group Ltd. (ASX:ANZ), Westpac Banking Corporation (ASX:WBC), Commonwealth Bank of Australia (ASX:CBA) and National Australia Bank Ltd. (ASX:NAB) shares were all seen trading significantly lower today.
It follows ANZ’s release of its half-year 2020 results and dividend announcement, in which it shocked the market by announcing its interim dividend would be deferred until after the COVID-19 crisis.
Keep reading below for some more positive news…
Featured Video: Franking Credits Explained
If you need to scrub up on your knowledge of the markets, did you know you can take one of our free investing courses or subscribe to the Rask Australia YouTube channel? It’s free!
ResMed – up 5%
The ResMed (ASX: RMD) share price was up around 5% despite the ASX having a fairly rough day. It released its third-quarter investor update.
ResMed is a United States-based business that develops and manufactures medical devices to help people with sleep apnea, chronic obstructive pulmonary disease (COPD) and other chronic diseases.
Today, the healthcare business announced that revenue rose by 16% to $769.5 million. It was a rise of 17% on a constant currency basis.
ResMed said that its non-GAAP (generally accepted accounting practices) gross margin increased by 70 basis points (0.70%) to 60%.
Its net operating profit increased by 39%, whereas the non-GAAP profit growth was slightly slower at 31%.
To get the full story on ResMed click here.
Janus Henderson – up 10%
The Janus Henderson (ASX: JHG) share price rocketed over 10% today after releasing an announcement.
The global fund manager released its first-quarter results yesterday after the market had closed.
The first quarter of 2020 saw an operating income loss of US$332.4 million, which includes goodwill and intangible asset impairment charges of US$487.3 million. ‘Adjusted’ operating income, which excludes those impairments, grew 15% to US$164.5 million.
Janus Henderson saw assets under management (AUM) drop 21% compared to the prior quarter, reflecting the impact of COVID-19 and net outflows. However, average AUM of $352.7 million was only down by 3% compared to the last quarter. Continue reading here
[ls_content_block id=”14948″ para=”paragraphs”]
