As investors are aware, stock markets in Australia might get affected by the health of global economy as well as by the performance of global stock markets. In the event of slowdown, investors might decide to deploy their investable capital towards safer assets.
On 7th November 2019, S&P/ASX200 closed the trading session in green, reflecting a rise of 1.0% or 66.4 points and settled at 6726.6. At the close of the same trading session, All Ordinaries also ended the trading session in green, with a rise of 0.9% or 63.7 points and index stood at 6836.9. However, there were some companies which closed the session in green on Australian Securities Exchange (or ASX) and filled the pocket of many investors and traders.
At the close of session on 7th November 2019, Xero Limited (ASX: XRO) ended the trading session at a price of A$73.950 per share, with a surge of 9.556%. Moreover, James Hardie Industries Plc (ASX: JHX) closed at a price of A$26.620 per share, representing a rise of 7.773% on an intraday basis.
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Milestone of Achieving Two Million Subscribers Globally
Xero Limited (ASX: XRO), today on November 7, 2019, announced its results for half year ended 30th September 2019, reporting strong topline growth in combination with improving gross margin and free cash flow. In 1H FY19, the company achieved significant milestone, exceeding 2 million subscribers, globally, and the figure reached 2.057 million subscribers.
The company would continue to focus towards growing its global small business platform as well as maintain the preference for reinvesting cash generated, subject to investment criteria and market conditions, to drive long-term shareholder value. Free cash flow in the financial year to March 31, 2020 is anticipated to be a similar proportion of the total operating revenue to that reported in the financial year to March 31, 2019.
A Recent Update on James Hardie Industries Plc
James Hardie Industries Plc (ASX: JHX) released results for Q2 FY 2020 and half-year ended September 30, 2019. During Q2 FY 2020, the company managed to deliver net sales as well as EBIT growth in local currency in all three regions (i.e. North America, Asia-Pacific and Europe). The company’s adjusted NOPAT rose by 22% for the second quarter and the company also raised full year guidance range to US$340 – US$370 Mn. Also, James Hardie Industries Plc expects North America Fiber Cement segment’s EBIT margin to be in the ambit of 25%-27% during fiscal year 2020.
XRO Daily Technical Chart (Source: Thomson Reuters)
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