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ASX 200 rises again on Thursday, up 2.3%

ASX 200
Credit: Cimexus

The S&P/ASX 200 Index (ASX: XJO) finished Thursday up 2.3% as ASX investors reacted to the US enacting its large stimulus package to tackle the coronavirus effects.

It was announced that the two American political sides have agreed a huge package worth US$1.8 trillion. This equates to about 10% of the US economy – it’s double the size of the rescue package from the GFC.

Investors hope that this could be the start of a share market recovery, particularly when combined with ultra low interest rates.

Here are some of the highlights from today:

More COVID-19 updates

Various companies released updates today relating to the coronavirus.

The Auckland International Airport Limited (ASX: AIA) share price rose 5.4% after giving an update.

The AMP Limited (ASX: AMP) share price increased by 8.3% after withdrawing guidance.

The Northern Star Resources Ltd (ASX: NST) share price dropped by 15% after giving an update.

The share price of Genworth Mortgage Insurance Australia (ASX: GMA) jumped 22% after releasing an update.

The share price of Lovisa Holdings Ltd (ASX: LOV) climbed 29% after releasing an update.

The Premier Investments Limited (ASX: PMV) share price rose 1.5% after giving an update about difficult decisions.

Shares of Flight Centre Travel Group Ltd (ASX: FLT) are still suspended with it making another announcement.

The share price of Resolute Mining Limited (ASX: RSG) rose 5.1% in reaction to the gold miner’s update.

Report released

One business to report its result today was diversified property business Brickworks Limited (ASX: BKW), its share price fell 1.25% in reaction.  The building products company’s Board decided to increase its dividend by 5% despite the ongoing coronavirus problems with supportive cashflow from its non-building product segments. 

Capital raising complete

Hearing aid business Cochlear Limited (ASX: COH) announced that it has completed a $880 million capital raising at a share price of $140. The raising was enlarged because of the demand from investors.

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As of 17/3/20

Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Flight Centre Travel Group Limited and Premier Investments Limited. The Motley Fool Australia has recommended Brickworks. 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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