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Market close: ASX 200 jumps over 2%

The S&P/ASX 200 Index (ASX: XJO) continues to recover, it rose by 2.4% to 5,522 points.

Locally and globally, regions continue to talk about opening up. There was encouraging news about one of the experimental drugs being used against the coronavirus.

Large ASX 200 gains

There were some very large gains within the ASX 200.

Car dealership business AP Eagers Ltd (ASX: APE) saw a share price jump of 27% after giving a market update.

The Credit Corp Group Limited (ASX: CCP) share price rose 18% after coming out of its trading halt and completing the $120 million placement.

The Nearmap Ltd (ASX: NEA) share price shot 17.4% higher.

The IOOF Holdings Ltd (ASX: IFL) share price rose 15.6% after giving a business update.

The Worley Ltd (ASX: WOR) share price climbed 16% today.

Australia and New Zealand Banking Group (ASX: ANZ) reports its half-year result

The major ASX 200 bank reported its HY20 result this morning.

Its continuing cash earnings declined 60% to $1.41 billion. Statutory profit after tax declined 51% to $1.55 billion. 

The result was driven by credit impairment charges of $1.67 billion that included increased credit reserves for COVID-19 impacts of $1.031 billion.

The big four ASX bank decided to defer the decision about its interim dividend. It will make a decision in a few months.

The ANZ share price rose by 1.4%.

Big sales jump for Woolworths Group Ltd (ASX: WOW)

As you might expect, the country’s biggest supermarket business reported a large increase of revenue in the March 2020 quarter.

Woolworths said that its total third quarter sales from continuing operations (which excludes the old Petrol division) grew by 10.7% to $16.5 billion. The key Australian Food division generated revenue growth of 11.3% to $11.2 billion.

New Zealand Food revenue increased by 14.8% to $1.86 billion. Big W revenue rose by 9.5% to $866 million. Endeavour Drinks also grew revenue by 9.5% to $2.25 billion. The Hotels segment saw a 12.9% drop in revenue due to the lockdowns.

The Woolworths share price ended 0.8%, making it one of the more disappointing ASX 200 shares considering how much the market rose today.

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

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