Market Update: How Australian Markets Performed on November 11, 2019

Stock markets in Australia are sensitive to macro-economic factors as well as to health of the global economy. A rise in economic uncertainties can prompt the investors to sell their equity holdings, and the stock markets can witness unfavourable momentum. In the event of economic downturn, the investors generally avoid making deployments towards equities largely because of the risk associated with the asset class.

Let us quickly have a boad overview of the performance of Australian markets on November 11, 2019 S&P/ASX200 ended the session in green, as the index witnessed a rise of 48.4 points or 0.7% on an intraday basis, closing the session at 6772.5.

Recent Update Related to Speedcast International Limited

Speedcast International Limited (ASX: SDA) has appointed Peter Myers to the post of Chief Financial Officer. Peter possesses wealth of sustainable operational finance experience from several companies as well as industries. The includes 2 multibillion- dollar businesses that are listed on Australian Securities Exchange (or ASX). With respect to past experience of Peter Myers, it was stated thate he was Chief Financial Officer for Billabong Group Limited , APN News & Media Limited as well as Ten Network Holdings Limited. At these business es, Mr Myers was responsible for substantial turnarounds, successful refinancing programs as well as initiatives of capital management.  He also holds experience in overseeing key transformation and integration projects.

In the same release, the company unveiled regarding the appointment of Jennifer Grigel at the post of Chief Operating Officer, starting from early 2020.

We would now have a look at how the stock of Speedcast International Limited performed on November 11, 2019. On ASX, Speedcast International Limited ended the session in green, registering an increase of 11.29% and settling the session at A$1.035 per share.

We have written about CLQ, FLC and DEM and we advise the investors to have a quick look at the information provided. To view, click here.

Recent Announcement About Domain Holdings Australia Limited

Domain Holdings Australia Limited (ASX: DHG) announced to have entered into a binding agreement for the acquisition of 100% of Bidtracker Holdings Pty Ltd, which operates business Real Time Agent. The on-target consideration for the proposed transaction involves a consideration amounting to $24.8 million, out of which $19.4 Mn is payable in cash on the completion. Moreover, an additional amount in the range of $0 and $15.6 Mn in cash is payable, depending upon achievement of the defined targets over FY 2020 and FY 2021, resulting in the maximum consideration amounting to $35 Mn on the achievement of 200% of business plan.

Let us now have a look at how the stock of DHG performed on ASX. On November 11, 2019, the stock of Domain Holdings Australia Limited closed the session at A$3.280 per share, moving upward by 5.128% on an intraday basis.

SDA Daily Technical Chart (Source: Thomson Reuters)


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