ASX 200 jumps 1.75% on Monday

The S&P/ASX 200 Index (ASX:XJO) jumped 1.75% today after the US election was finally decided. The REA Group (ASX:REA) share price went up 9%.
The post ASX 200 jumps 1.75% on Monday appeared first on Motley Fool Australia. –

ASX 200

The S&P/ASX 200 Index (ASX: XJO) went up by 1.75% today to 6,299 points.

Strong day for the ASX 200

The ASX 200 had one of its best days in months after the US election was finally called for Joe Biden.

There were a lot of gains today.

The REA Group Limited (ASX: REA) share price went up by 9%, the Nearmap Ltd (ASX: NEA) share price grew by 8.1%, the Zip Co Ltd (ASX: Z1P) share price rose by 7%, the Fortescue Metals Group Limited (ASX: FMG) share price grew by 6.4% and the Mineral Resources Limited (ASX: MIN) share price rose around 6%.

Crown Resorts Ltd (ASX: CWN)

Crown announced some changes for its operations today.

The casino complex at Melbourne has received approval to commence the operation of a limited number of electronic gaming machines and electronic table games in accordance with restrictions agreed with the Victorian government.

The restrictions include restricted operations to ten designated VIP areas, each with a maximum capacity of ten patrons with no smoking permitted. There will be physical distancing between patrons with every second electronic gaming machine and electronic table deactivated. Patrons will be restricted to 90 minutes of activity per day. There will be a COVID-19 marshal for each area and there will be enhanced hygiene protocols.

Gaming operations are expected to commence from Thursday, 12 November 2020 for the ASX 200’s Melbourne operations.

In addition, following the Victorian government’s recent announcements regarding the easing of restrictions in Victoria, select retail outlets re-commenced operations from 28 October 2020, select food and beverage outlets re-commenced operations from 2 November 2020 and Crown Towers Melbourne re-opened today in accordance with the Victorian government’s restrictions.

Crown Aspinalls ceased operations from 5 November 2020 after the government’s announcement of new restrictions in the United Kingdom.

Ken Barton, the Crown CEO, said: “We have been working for some time with the Victorian government and health authorities to determine how we can safely re-open Crown Melbourne and have developed extensive physical distancing and hygiene measures to allow re-opening in a safe manner. We are pleased to be able to commence the process of welcoming back our employees and customers to Crown Melbourne.”

The Crown share price rose by 3.6%.

Tabcorp Holdings Limited (ASX: TAH)

The Tabcorp share price fell by around 3% after the company announced that services were largely stored.

There was a major outage which impacted the ASX 200 share’s TAB, Keno and gaming services operations and systems from around 11:30am on Saturday.

Tabcorp has commenced a comprehensive and urgent review into this incident, which will be overseen by the board.

The company said that based on a preliminary assessment, a smoke and likely fire incident at a third-party managed data centre in Sydney resulted in extensive damage to Tabcorp’s servers and associated infrastructure. This led to technical and systems outages, as well as the closure of TAB retail venues.

At this stage, there is no evidence of any potential cyber security issues or customer data breaches.

Lost wagering turnover over the weekend is estimated to have impacted Tabcorp earnings before interest, tax, depreciation and amortisation (EBITDA) by less than $10 million.

Tabcorp managing director and CEO David Attenborough said: “The outage was unacceptable. Tabcorp remains deeply sorry for this and acknowledges the significant disruption caused to our customers, the racing industry and venue partners.

“Our teams and technology partners are continuing to deploy all available resources into restoring the full Tabcorp gambling entertainment experience for our customers and partners.”

It was the worst performer in the ASX 200 today.

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Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Nearmap Ltd. and ZIPCOLTD FPO. The Motley Fool Australia has recommended Crown Resorts Limited, Nearmap Ltd., and REA Group Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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