Proactive's Tylah Tully gives a market wrap for the 20th of August.
The ASX ended the day with slight gains, marking the second consecutive day of increases. The S&P/ASX 200 rose by 0.19%, closing at 7,995.8 points. Over the past five days, the index has gained 2.16%.
Monadelphous Group was the top performer of the day, with its stock price increasing by 11.59% to $13.19. The rise was driven by the company’s announcement of an 11% increase in revenue for the 2024 financial year, reaching $2 billion. Additionally, Monadelphous reported a 16% rise in profit, amounting to $62.2 million. Despite fluctuations in commodity prices, the company remains optimistic about long-term demand in the resources and energy sectors.
Judo Capital Holdings also saw significant gains, with its shares rising by 10.47% to approximately $1.50. In terms of sectors, Utilities led with a 1.31% gain, while Real Estate was the worst performer, declining by 1.54%.