S&P/ASX 200 (INDEXASX:XJO) rallied 122 points or 1.8% in early trade today following a ~4% jump on Wall Street but the market was unable to maintain the enthusiasm through the afternoon.
The index ended the day 70 points or 1.1% higher at 6395.7
While the gain was not enough to recoup losses from yesterday, it was still the second-best daily performance so far in 2020.
The healthcare, consumer staples and communications sectors improved most while materials and financials underperformed.
TPG upgrades earnings guidance[hhmc]
The biggest improver on the ASX 200 was TPG Telecom (ASX:TPM) which jumped 9.5%.
TPG released its half-yearly results and upgraded its FY20 earnings (EBITDA) guidance by ~5% to a range of $775 million and $785 million.
Some of the larger miners were weaker with BHP Group (ASX:BHP) and Rio Tinto (ASX:RIO) trading ex-dividend.
Both were higher in the early hours of trade but Rio ended the day 1.7% weaker while BHP saw a decline of 0.7%.
Coronavirus impactRead More – Source
[contf]
[contfnew]
Proactiveinvestors
[contfnewc]
[contfnewc]
