Market Update: Australian Markets Closed In Green On October 4, 2019: A Brief Look

Australian markets are affected by the health of global economy as well as by the performance of Australian economy. If the uncertainties with respect to the global growth increases, the impacts can also be seen on the Australian economy and equities. A rise in economic uncertainties can prompt the investors to sell their present holdings in equities which could negatively impact the broader stock markets. It is important for the investors to know that the performance of Australian economy is sensitive to the trade battle between the US and China. This war could disrupt the global business environment and can impact the key numbers of global companies. We will now be having a look at the performance on October 4, 2019.

S&P/ASX200 ended the session in green, as the index encountered an increase of 24.1 points or 0.4% on an intraday basis to close the session at 6517.1. Also, on the same day, All Ordinaries witnessed an increase of 25.2 points or 0.4% on an intraday basis, closing at 6636.9.

On October 4, 2019, Jumbo Interactive Limited (ASX: JIN) and CLINUVEL PHARMACEUTICALS LIMITED (ASX: CUV) closed in green, as their share prices rose by 6.073% and 5.387%, respectively. On the other hand, Galaxy Resources Limited (ASX: GXY) and Mayne Pharma Group Limited (ASX: MYX) closed in red, as there was a decline of 5.051% and 3.333%, respectively, in their share prices.

We have provided important information on the stocks and we advise investors to have a look at the same. Not so long ago, we had written about Greenland Minerals Limited (ASX: GGG) and, in order to have a look, please click here.

Update By Magellan Financial Group on FUM

Magellan Financial Group Limited (ASX: MFG) has come forward and made an announcement about its Funds Under Management (or FUM) in a press release. As per the release dated October 4, 2019, the company’s total FUM stood at A$92,072 million at the end of September 30, 2019 as compared to A$92,092 million at the end of August 30, 2019.

In the month of September 2019, Magellan witnessed net inflows amounting to $462 million, which included net retail inflows amounting to $175 million as well as net institutional inflows of $287 million. The company’s release also unveiled that Magellan High Conviction Trust indicatively garnered $862 million and the amount would be reflected in the FUM announcement of the next month. Out of the total FUM as on September 2019, the contribution of global equities was A$67,576 million while that of infrastructure equities was A$16,544 million. However, Australian equities contributed A$7,952 million to the total FUM as on September 2019.

On October 4, 2019, the stock of Magellan Financial Group ended the session in green, as the share price rose by 0.534% to end the day’s session at A$50.870 per share.

JIN Daily Technical Chart (Source: Thomson Reuters)


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