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ASX 200 falls again, coronavirus cancels 2020 gains

ASX 200
Credit: Cimexus

The ASX 200 (ASX: XJO) has fallen again today by 0.75% to 6,658 and it has now lost the gains from the early part of 2020 as the coronavirus spreads fear.

However, it wasn’t a sea of red like earlier in the week. Reporting season continues and there were a few gains.

Growth names buck the trend 

A2 Milk Company Ltd (ASX: A2M) managed to impress investors enough to send the share price higher by 5% as the Kiwi company reported 21.1% net profit growth to NZ$184.9 million, driven by a rise in total revenue of 31.6% to NZ$806.7 million. You can read here for more of A2 Milk’s result, including its outlook for the rest of FY20.

Afterpay Touch Group Ltd (ASX: APT) was another growth name to impress today. Afterpay reported that its underlying sales rose by 109% to $4.8 billion. Its active customer numbers rose by 134% to 7.3 million and its active merchants increased by 86% to 43,200. What did the market think of all that? Investors sent the share price of the buy now, pay later business higher by over 1%. You can read here for more of Afterpay’s result, including its goals for the rest of FY20.

An agricultural turnaround story? 

Costa Group Holdings Ltd (ASX: CGC) was another business to report today and impress the market. Its share price rose 4.9% despite re-iterating the large list of problems it faced in 2019 and it reported a statutory net loss of $33.8 million. However, pricing levels have “improved considerably” during January, which could bode well for 2020. You can read here for more of Costa’s result, including profit guidance for 2020.

The red end of the ASX 200 

Not every report got a positive result. The share price of Link Administration Holdings Ltd (ASX: LNK) fell 13.5% after the financial administration business announced its half-year result with its statutory profit down heavily. You can read more about that here.

The coronavirus continues to cause concern for the travel businesses on the ASX, investors sent the share price of Webjet Limited (ASX: WEB) down another 8.5% today.

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Tristan Harrison owns shares of COSTA GRP FPO. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of Link Administration Holdings Ltd. The Motley Fool Australia owns shares of and has recommended COSTA GRP FPO. The Motley Fool Australia owns shares of A2 Milk and AFTERPAY T FPO. The Motley Fool Australia has recommended Link Administration Holdings Ltd and Webjet 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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