The Aussie index had been on course to complete the season flat until a last minute selloff on 31 December after losing up to a third of its value at the height associated with pandemic. This ultimately generated the ASX 200 index recording a 1.4% decrease for the year.
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The pandemic that is COVID-19 the headlines a year ago and possessed a major effect on the performance of Australian companies.
The working from home effort, along with other tailwinds while some organizations were impacted adversely, others benefited significantly from changing consumer behaviors.
Allow me to share the five best ASX that is performing 200 in 2020. Here’s why these were on fire on the 12 months:
Afterpay Ltd (ASX: APT)
The Afterpay share price was the performer that is best in the ASX 200 in 2020 with a whopping 303% gain. Nevertheless, that gain is only letting you know half the tale. The Afterpay share cost had plunged to a two-year low of $8.01 after investors panicked that debt would spike and underlying sales would collapse at the top of the crisis. Nonetheless, those worries were extremely wide associated with mark and Afterpay recorded growth that is extremely strong the ANZ and US markets without compromising its bad debts. This led to the Afterpay share price ending the at $118.00, which is really a staggering ~1400% higher than its March low year.
Kogan.com Ltd (ASX: KGN)
The Kogan share price had been the next performer that is best having a 150% gain. This e-commerce company ended up being one of the primary winners through the pandemic because of the dramatic change to shopping that is online. With bricks and mortar shops forced to close during lockdowns, customers flocked online with regards to their shopping.
Numerous for enough time that is first. This resulted in Kogan reporting client that is explosive product sales, and profit development. According to a report by IBM, the pandemic has accelerated the shift away from physical stores to approximately internet vendors by five years.
Mineral Resources Limited (ASX: MIN)
The Mineral site share cost was a performer that is strong stormed 127% higher in 2020. The catalyst with this had been the mining and mining services company’s experience of two associated with the hottest commodities of 2020. A rebound in lithium costs as a result of vehicle that is electric and a surging iron ore cost got investors excited.
Fortescue Metals Group Limited (ASX: FMG)
The Fortescue share price wasn’t far behind with an impressive 119% gain in 2020. As one of the world’s iron that is leading producers, investors had been fighting to obtain hold of its stocks following the cost of the steel making ingredient jumped to multi-year highs.
This is driven by supply constraints in Brazil and demand that is robust China as it invests heavily in infrastructure to boost its economic development. The iron ore price finished the at US$155.84 per ton 12 months. This compares extremely favorably to Fortescue’s C1 costs of US$12.74 per wet ton that is metric. The Aussie index had been on course to complete the season flat.