The S&P/ASX 200 Index (ASX: XJO) was volatile again on Tuesday.
Initially the ASX 200 went up as much as 2.5%. Then during the day it dropped by around 4.2% by mid-afternoon, to finish down by 0.6% compared to yesterday.
Investor confidence continues to sway. The US coronavirus numbers don't look great. But who knows what's going to happen next?
Australia released its coronavirus modelling today and it seems as though the lucky country may be lucky once more.
Here are some of the highlights from today:
More capital raisings
The discounted capital raisings continue on the ASX.
Earlier today we heard from real estate investment trust (REIT) Shopping Cntrs Austrls Prprty Gp Re Ltd (ASX: SCP) that it would do a capital raising to improve its balance sheet strength.
The REIT is going to raise up to $300 million, including $250 million from institutional investors, to provide funding flexibility to continue to deliver on the strategy of investing in supermarket-anchored centres when opportunities arrive. Its supermarket and specialty tenants are performing strongly according to the REIT. The raising is at an 8.5% discount to the last share price.
Travel shares see gains
Travel agent business Flight Centre Travel Group Ltd (ASX: FLT) came out of its trading halt today after completing the institutional part of its capital raising. At the open Flight Centre's share price went up by a healthy double digit increase, but by the end of the day it finished up by just 0.8%.
However, Webjet Limited (ASX: WEB) managed to maintain the optimism with investors, its share price increased by almost 7% today. Fellow travel business Helloworld Travel Ltd (ASX: HLO) also experienced a 9.5% rise.
Continued strong movements
Whilst the ASX as a whole didn't move a lot today, there were some big double digit movements.
The share price of Southern Cross Media Group Ltd (ASX: SXL) fell 30.3% today.
At the green end the share price of EML Payments Ltd (ASX: EML) grew by another 11.4%.
The share price of Polynovo Ltd (ASX: PNV) grew by 15.8% after giving some updates to the market.
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Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of Emerchants Limited. The Motley Fool Australia owns shares of and has recommended Flight Centre Travel Group Limited and Webjet Ltd. The Motley Fool Australia owns shares of Shopping Centres Australasia Property Group. The Motley Fool Australia has recommended Emerchants Limited. 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.
