Market Update: Understanding Australian Markets’ Performance On October 11, 2019

The stock markets in Australia are sensitive to the performance of the global markets as well as to the health of the global economy. Any sort of risks to the global growth has the potential to weigh over the broader performance of Australian economy and, as a result, the Australian markets can also witness some impacts. The trade battle between the US and China needs to end on a permanent basis as the settlement would be beneficial for the global economy and the Australian economy. We would now have a look at how the stock markets have performed on October 11, 2019.

S&P/ASX200 ended the session in green as the index witnessed a rise of 59.7 points or 0.9% on an intraday basis to end the session at 6606.8. On the same day, All Ordinaries have encountered a rise of 59 points or 0.9% on an intraday basis to close the day’s session at 6721.9.

We would now have a look at how the stocks have performed on ASX. On October 11, 2019, CYBG PLC (ASX: CYB) ended the session in green as the share price has encountered a rise of 9.415% on an intraday basis to end the session at A$2.150 per share. On the same day, Netwealth Group Limited (ASX: NWL) and Nufarm Limited (ASX: NUF) ended the session in red as there was a fall of 5.543% and 4.142%, respectively on an intraday basis. For the readers, we have provided some important information on the stocks, and we advise them to have a quick look at it. Recently, we have provided important information on four tech-based stocks (i.e. AKP, SVT, MOB and ESH). To have a look, please click here.

SLR Releases Activities Report for the Quarter Ended September 2019

Silver Lake Resources Limited (ASX: SLR) came forward and issued a press release in which it discussed its activities for September 2019 quarter. As per the release, the group witnessed production of 59,288 ounces gold as well as 734 tonnes copper (61,929 ounces gold equivalent) for the quarter ended September 2019, and the sales stood at 56,683 ounces gold as well as 613 tonnes copper involving an average price amounting to A$1,995/oz and AISC of A$1,260/oz. The company has been building the financial strength, and its cash and bullion rose by $24.1 million or 18% to $155.2 million at the end of September quarter, and the listed investments stood at $5.1 million.

In the release, the company has also provided some information on the outlook for FY 2020. In the release it was stated that the company’s operations are positioned to deliver into the upper end of sales guidance of 215,000- 230,000 ounces gold equivalent involving average AISC range of A$1,375/oz- A$1,450/oz.

We would now have a look at how the stock of SLR performed on Australian Securities Exchange. On October 11, 2019, the stock price of SLR ended in green as there was an increase of 12.5% on an intraday basis to end the session at A$1.035 per share.

SLR Daily Technical Chart (Source: Thomson Reuters)


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