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June was a dismal month for the Australian share market. The benchmark ASX 200 index witnessed big volatility on account of rate of interest hikes, ongoing geopolitical tensions, recession issues and surging client costs. Because of this, the benchmark index finished the month of June 8.9% down at 6,568.1 points.
Whereas there have been a number of laggards, just a few ASX-listed shares managed to defy the general market gloom to put up positive aspects in June. Shares equivalent to Tabcorp Holdings superior over 15% in the course of the month, serving to some buyers to restrict losses.
In the meantime, buyers would now hope July to be a brighter month and increase their muted funding portfolios.
Right here we have a look at three high gainers and losers on the ASX within the month of June 2022:
High gainers
Tabcorp Holdings Ltd (ASX:TAH)
Tabcorp supplies playing and leisure providers. Tabcorp’s inventory was the highest gainer within the final month and ended with a achieve of 15.1%. The ASX-listed inventory primarily gained on account of settlement of its
Racing Queensland litigation for AU$150 million, placing an finish to a three-year-old dispute.
Atlas Arteria Group (ASX:ALX)
Atlas Arteria operates and manages a portfolio of toll highway property and trades. The inventory superior 12.1% in the course of the month. Atlas Arteria’s share worth majorly gained following the information that IFM International Infrastructure Fund lapped up a 15% stake within the firm, looking for to make a takeover proposal. However Atlas Arteria has denied IFM’s request to supply it entry to personal data, which might assist it to draft a bid.
Iress supplies data expertise and administration providers to its purchasers. The inventory of Iress was the third greatest performer on the ASX 200 in June, ending with a achieve of 9.9%. The inventory gained regardless of no main price-sensitive data popping out of the corporate in the course of the month.
High losers
Zip is an Australia-based funds resolution supplier. The inventory of the most important buy-now-pay-later (BNPL) participant was the topmost loser in June, ending the month with a decline of 52.2%. Zip’s share price was under pressure amid general weak spot within the tech sector on account of rising rates of interest. The opposite main issue which weighed on the BNPL inventory was the announcement by tech main Apple of launching its superior BNPL service, which can create sizeable competitors within the sector.
Lake Assets NL (ASX:LKE)
Lake Assets produces high-purity lithium. The inventory fell 49% in June. The decline got here regardless of the inventory’s inclusion within the ASX 200 membership in the course of the interval underneath evaluate. The inventory was primarily underneath strain final month following the sudden exit of its Chief Government Officer (CEO) Steve Promnitz.
Novonix is a battery supplies and expertise agency. The inventory witnessed a 44.3% fall in June. The inventory fell regardless of the corporate not releasing any main price-sensitive information in the course of the month.
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