The Motley Fool

Market close: ASX 200 finishes lower 0.4%

The S&P/ASX 200 Index (ASX: XJO) finished the day lower by 0.4% at the market close.

There was plenty to read about today. In positive news, some European countries and Australian states are now planning for a gentle lifting of some of the restrictions in place. Time will tell whether it’s too early, but it’s a good sign the we’re entering into the next phase.

Here are some of the ASX 200 highlights of the day:

Lynas Corporation Ltd (ASX: LYC) pleases

The share price of Lynas went up 4.5% today as the rare earth miner gave its quarterly activities report and gave an update about the temporary production halt at the Malaysian plant.

It finished the quarter with $124.6 million of cash and $91.2 million of invoiced sales revenue – both higher than the December 2019 quarter. It also saw improved production volumes despite production constraints.

In terms of the Malaysia plant, Lynas has applied for approval to operate and is awaiting the government’s decision.

Appen Ltd (ASX: APX) provides an update

WAAAX member Appen provided an update to the market today.

Based on the current information, Appen was happy to restate its 2020 forecast for full year underlying earnings before interest, tax, depreciation and amortisation (EBITDA) to be between $125 million to $130 million. The company outlined a number of factors that may help or hinder the company this year.

However, management said the company was well positioned to weather this period with cash resources of over $100 million.

Continuing capital raisings

The capital raising market continues to buzz as companies carry out their capital raisings.

Funeral business InvoCare Limited (ASX: IVC) announced it had raised $200 million from institutions.

Bathroom business Reece Ltd (ASX: REH) has launched the retail element of its capital raising.

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 133%. Or Megaport, a Brisbane small-cap stock which is now up 180%.

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

Click Here To Find Out!

As of 7/4/20

Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of Appen Ltd. The Motley Fool Australia has recommended InvoCare 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.

Where to invest $1,000 right now

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

*Returns as of June 30th

Related Articles...

Latest posts by Tristan Harrison (see all)