ASX soars: Aus shares close 4.73% higher
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The Australian share market had a positive start at the open and continued to rally for the rest of the session with a stellar performance to finish 4.3 per cent up from Friday’s close. In the day’s breaking international news, UK Prime Minister Boris Johnson has been admitted to hospital, 10 days after testing positive for COVID-19. Mr Johnson’s update came within hours of the Queen’s historic speech on the recent crisis and its personal and financial impacts. Corporate Travel Management (ASX:CTD) led the top 200 gains at the end of the session and Web Jet (ASX:WEB) led the losses for the day. The S&P/ASX200 index: At the closing bell the S&P/ASX 200 index closed 219 points higher to finish at 5,287. Futures market - all are in the green : Dow futures are suggesting a rise of 872 points. S&P 500 futures are eyeing a lift of 96 points. The Nasdaq futures are eyeing a rise of 316 points. The ASX200 futures are eyeing a 234 point lift tomorrow morning. Broker moves : Morgans?has rated Nanosonics (ASX:NAN) as?an Add.?The broker said the medical equipment company reported a strong March quarter and noted an unsurprisingly uncertain June quarter outlook. Management nonetheless highlighted a resilient consumables component, ongoing commitment to R&D, a review of expenses and a significant cash holding. Morgans also believes the current crisis will not change the longer term importance of high level disinfection and suggesting investors use volatility to add to positions. Target price is?$6.92?Current Price is?$5.97?Difference:?$0.95? Shares in Nanosonics (ASX:NAN) closed 3.5 per cent higher at $6. Company news : Paradigm Biopharmaceuticals (ASX:PAR) is set to raise $35 million to fund its upcoming Phase III trials for its knee osteoarthritis?treatment drug Zilosul. The funds will be applied to the additional cost of the 2nd Phase 3 OA trial in which the company says will put them into a fully funded position until the end of 2022. Further guidance has been given by US ...
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