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Market Update 22 April

Bell Direct
April 22, 2020

The Australian share market put the brakes on for the 3rd day, as US equities felt weak at the knees for their 2nd session. This follows oil price’s massive decline amid oversupply and crippled demand due to COVID-19 lockdowns.

Today, the oil price clawed back overnight and the Aussie share market is up 13% from its March lows meaning we are no longer in a bull market.

Companies on the ASX leaderboard: WiseTech (ASX:WTC), Pinnacle Investment Management Group (ASX:PNI) and Spark Infrastructure (ASX:SPK).

Stocks seeing the most selling: NRW Holdings (ASX:NWH), oOh!Media (ASX:OML) and Stockland (ASX:SGP).Investors are watching GPT Group (ASX:GPT) and Caltex (ASX:CTX).

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