ASX 200 rises again on Thursday, up 2.3%

The S&P/ASX 200 Index (ASX:XJO) went up another 2.3% on Thursday as investors reacted to the US stimulus package.

a woman

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

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.

Forget the dot-com boom. This could be 40X better.

Our experts believe 5G is one of the greatest arrivals in technology since the birth of the internet. And this year… we could see an onslaught of new wealth-building opportunities that could be bigger than the dot-com boom.

In our BRAND NEW REPORT we've identified one under-the-radar Melbourne company that we think has cleverly positioned itself to take advantage of the 5G revolution. It's a company that partners with huge global brands such as Disney and Qantas yet you rarely hear about it…

This stock could be our next 'Moonshot' multi-bagger, like when we picked Elmo Software — up 120%. Or Megaport, a Brisbane small-cap stock which is now up 77%.

Find out the name of this 5G stock and four others in our BRAND NEW 5G REPORT.

Click Here To Find Out!

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.

More on ⏸️ TMF AMP

laptop, newspaper, ipad, coffee and hands holding iphone
⏸️ TMF AMP

ASX 200 Weekly Wrap: ASX has week of high volatility

Here on our ASX 200 Foolish Weekly Wrap, we look at the things that moved the S&P/ASX 200 Index and…

Read more »

cup of coffee next to newspaper open to stock market page
⏸️ TMF AMP

ASX 200 Weekly Wrap: Blue chip shares pull ASX 200 back over 6,000 points

Here on our ASX 200 Foolish Weekly Wrap, we look at the things that moved the S&P/ASX 200 Index and…

Read more »

⏸️ TMF AMP

ASX 200 Weekly Wrap: Rocketing BNPL shares fail to stop ASX 200 slide

Here on our ASX 200 Foolish Weekly Wrap, we look at the things that moved the S&P/ASX 200 Index and…

Read more »

hand selecting wooden letter tiles to spell the word july
⏸️ TMF AMP

Top ASX Stock Picks for July 2020

We asked our Foolish writers to pick their favourite ASX stocks to buy in July 2020. Here is what they…

Read more »

⏸️ TMF AMP

ASX 200 Weekly Wrap: ASX retreats as confidence wanes

Here on our ASX 200 Foolish Weekly Wrap, we look at some of the ASX 200 shares that moved the…

Read more »

⏸️ TMF AMP

ASX 200 Weekly Wrap: ASX back in the green

Here on our ASX 200 Foolish Weekly Wrap, we look at the things that moved the S&P/ASX 200 Index and…

Read more »

⏸️ TMF AMP

ASX 200 Weekly Wrap: ASX bears take control as market volatility returns

Here on our ASX 200 Foolish Weekly Wrap, we look at some of the ASX 200 shares that moved the…

Read more »

⏸️ TMF AMP

ASX 200 Weekly Wrap: ASX bulls crash through 6,000 points

Here on our ASX 200 Foolish Weekly Wrap, we look at some of the things that moved the S&P/ASX 200…

Read more »