The S&P/ASX 200 Index (ASX: XJO) is in positive territory again today, up strongly by 5.54% with a rally towards the end of the day.
Here we look at four ASX 200 shares that have seen strong gains today.
BHP Group Ltd (ASX: BHP)
BHP shares finished up by a healthy 10% today. Like nearly all companies on the ASX, BHP has lost some ground in recent weeks. However, its share price has remained fairly resilient, with a decrease from $38.52 on 20 February to today's closing price of $31.30 – a fall of 18.74%.
BHP will not be significantly impacted by self-isolation rules compared to most Australian companies. Additionally, the global economy's demand for iron, coal and copper will be here long after the coronavirus outbreak is over. In fact, last week, BHP announced that it will higher 1,500 more staff across Australia for its coal, copper and iron ore operations. Staff will be hired across a range of roles including machinery operators, truck drivers, electricians, cleaners and mechanics.
Breville Group Ltd (ASX: BRG)
Breville saw a 19.64% rise in its share price today. However, it has been a wild ride for the company in recent weeks, with Breville shares falling heavily from $25.50 to $13.16 since releasing its half-year results on 13 February 2020.
The company's recent growth has been driven by its Europe expansion strategy and increased penetration in North America. Europe is now the group's second-largest market. Breville's share price rise today is most likely due to bargain hunters entering the market after recent heavy losses.
Sydney Airport Holdings Pty Ltd (ASX: SYD)
The Sydney Airport share price rose strongly by 10.82% today. This follows positive gains on Monday after the company provided a coronavirus market update. Sydney Airport reaffirmed its confidence in its balance sheet and liquidity position. The airport operator has approximately $2 billion of available funds, and it believes these funds will more than cover its approximate $1.3 billion of expiring debt over the next 12 months.
Investors now appear to be more assured that Sydney Airport will be able to weather the storm over the next few months as both domestic and international flights are drastically cut back. As of March 20, only Australian citizens, residents and immediate family members can travel to Australia, and Australians have been advised not to leave the country, effectively closing our international borders. Australians have also been advised not to travel domestically unless for essential reasons, cutting sharply back on domestic air travel as well.
Scentre Group (ASX: SCG)
Scentre Group shares finished up by a very strong 19.58% today. However, this rise comes after very heavy losses over the past few weeks, so the rise today appears to be bargain hunters entering the market.
Scentre Group owns the Westfield branded shopping centres. With the very tight government restrictions on shopping and social distancing, there is no doubt that Scentre Group will see a major fall in foot traffic in its stores over the next few months.
