The S&P/ASX 200 Index (ASX: XJO) ended the day up 0.35% to 5,422 points. The ASX 200 was down over 1% earlier in the day.
China and Australia's dispute continues to grow. The Asian superpower reminded Australia how important it is to the Australian economy.
Commonwealth Bank of Australia (ASX: CBA) update
CBA, Australia's largest bank, announced its third quarter update today in light of the coronavirus. .
The bank said that it has been giving widespread support for the economy.
It said that its March 2020 quarter showed cash profit was down 44% compared to the first half of FY20's quarterly average.
Both the statutory net profit after tax and cash profit came in at $1.3 billion.
The major ASX 200 bank also announced that it had agreed to sell a 55% stake in Colonial First State for $1.7 billion.
Glittering day for Resolute Mining Limited (ASX: RSG)
Resolute Mining announced it has completed the second tranche of its $195 million capital raising at a price of $1.10 per share. The initial capital raising was launched in January 2020. Today it issued over 7.7 million shares to ICM Limited nominees.
The gold miner was one of the top performers in the ASX 200 today. The Resolute Mining share price went up over 5%.
Large ASX 200 movers
At the green end of the ASX 200 the Pilbara Minerals Ltd (ASX: PLS) share price rose around 11%, the Avita Medical Ltd (ASX: AVH) share price climbed 8.7% and the Mayne Pharma Group Ltd (ASX: MYX) share price grew over 5%.
At the red of the ASX 200 the Orocobre Limited (ASX: ORE) share price fell 7.7%, the Alumina Limited (ASX: AWC) share price dropped 6.6% and the Harvey Norman Holdings Limited (ASX: HVN) share price fell 5.7%.
