ASX 200 market close: Share market up 1.8%

The S&P/ASX 200 Index (ASX:XJO) ended 1.8% higher today at the market close. Some ASX shares were soaring on promising vaccine news.

Tristan Harrison

Author Bio Tristan Harrison has a decade of experience as an ASX share investment writer and was previously a business, tax and audit accountant for seven years. Tristan has contributed to The Motley Fool since October 2016. He has an advanced diploma from the Association of Accounting Technicians and is currently enrolled in the Chartered Institute Management Accountant (CIMA) program. Tristan's goal is to help Australians learn about great ASX shares that can help grow their portfolio, wealth and dividends over the long-term. Areas of Expertise ASX dividend shares and passive income strategies ASX growth shares and ETFs Business and company financial analysis Franking credits and personal tax topics Personal finance Education Advanced diploma from the Association of Accounting Technicians Enrolled in the Chartered Institute Management Accountant (CIMA) program Social Media X/Twitter Favorite Investment Quote "Live within your income and save so that you can invest." — Charlie Munger

Published May 19, 2020 5:12 pm AEST

The S&P/ASX 200 Index has ended up 1.8% today at the market close.

There are plenty of ASX shares that have soared in reaction to the news that a vaccine is showing very early promising signs. Investors love good news so share markets soared overnight and today the ASX has followed.

Some of today's biggest ASX 200 movers

The Unibail-Rodamco-Westfield (ASX: URW) share price went up 11.4% today.

Worley Ltd (ASX: WOR) saw its share price jump by 9.6%.

The Nearmap Ltd (ASX: NEA) share price rose by 9%.

The oOh!Media Ltd (ASX: OML) share price grew by 8.6%.

COVID-19 conditions have caused cyclical and retail shares like shopping centres and businesses relating to advertising to be sold off. Today seems to have been a signal for some investors to jump into shares that have been most heavily affected. And something like Worley might benefit from the higher oil prices.

James Hardie Industries plc (ASX: JHX) share price jumps

The James Hardie Industries plc (ASX: JHX) share price increased by 11.2% after announcing its result.

The compared reported group adjusted net operating profit of US$352.8 million for the full year, an increase of 17% compared to the prior corresponding period. Net sales of US$2.6 billion for the full year, this was an increase of 4% compared to last year.

Reported net profit increased by 6% to US$241.5 million. The ASX 200 share's result was solid given the environment.

Tabcorp Holdings Limited (ASX: TAH) update

The ASX 200 gambling's share price rose 2.5% today after giving an update.

Tabcorp said that it has secured agreements for a waiver of leverage and interest cover for the next two testing dates, but it won't pay a final FY20 dividend.

It's also in advanced discussions with its US private placement holders to obtain changes to existing covenants.

At 15 May 2020 it had $820 million of available liquidity of undrawn facilities and unrestricted cash. This compares to $749 million at 3 April 2020.

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