Performance of equity markets in Australia is sensitive to the performance of global stock markets as well as to the health of global economy. Any sort of economic disturbances might affect the Australian economy’s performance, which can also influence the performance of equities. In the event of economic slowdown, investors generally prefer to sell their equity holdings and deploy their investable capital towards safer assets.
On October 8, 2019, S&P/ASX200 closed the session in green, as the index rose by 29.8 points or 0.5% on an intraday basis to end the session at 6593.4. On the same day, All Ordinaries rose by 0.4% or 27 points to end the session at 6713.7.
On October 8, 2019, Silver Lake Resources Limited (ASX: SLR) and Gold Road Resources Limited (ASX: GOR) ended the session in red, as their share prices fell by 3.723% and 3.32%, respectively, on an intraday basis. We have covered some crucial information about the stocks that could benefit the readers.
Refinancing of Debt Facilities By Collins Foods
Collins Foods Limited (ASX: CKF) came forward and informed the market players via a press release that it has entered into a binding documentation to refinance existing syndicated debt facilities. As per the release issued by Collins Food Limited, the existing facilities amounting to $270 Mn as well as €60 Mn will be refinanced under new syndicated facility agreement comprising $265 Mn and €80 Mn revolving facilities. The press release also stated that, out of the new facilities, $210 Mn as well as €52 Mn would be drawn on a financial close, with the sufficient funding headroom provided by the undrawn amounts.
Collins Foods Managing Director & CEO (Chief Executive Officer) Mr Graham Maxwell stated that the company has strong relationship with the banking syndicate, and terms of the new facilities recognise credit quality. In the release, it was also mentioned that the new facilities would be supporting the ongoing operational strategy in Australia as well as internationally that would be delivering sustainable growth when it comes to earnings as well as shareholder value.
Let us now have a look at how CKF performed on ASX. On October 8, 2019, the stock price of CKF ended in green, as there was an increase of 5.03% on an intraday basis to end the session at $10.440 per share.
A Recent Update About HUB24
HUB24 Limited (ASX: HUB) has recently made an announcement about its results for the year ended June 30, 2019 in which it reported underlying NPAT amounting to $6.8 million (reflecting a rise of 27% on FY 2018). The company’s underlying EBITDA amounted to $14.8 million (a rise of 30% as compared to FY 2018) and its underlying platform EBITDA stood at $18.0 million (implying an increase of 52% on FY 2018).
The stock of HUB24 Limited closed the session in green, as its price witnessed a rise of 4.219% to end the day’s session at $11.610 per share. As on October 8, 2019, the market capitalisation of HUB stood at $697.25 million.
MYX Daily Technical Chart (Source: Thomson Reuters)
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