As investors are aware, stock markets in Australia are sensitive to economic uncertainties. If the health of global economy gets impacted, it might negatively impact the performance of equity markets in Australia. When slowdown occurs, investors tend to opt for safer assets and might decide to sell off their existing holdings in equities. We would now be having a look at the performance of S&P/ASX200 on November 14, 2019.
At the end of trading session on 14th November 2019, S&P/ASX200 closed the trading session in green. With a rise of 36.7 points, the index settled at 6735.1. On the same trading session, All Ordinaries also closed the trading session in green, up 0.5% or 35.2 points, reaching 6840.8. We will be having a look at some individual companies that closed the session in green.
At the close of session, Nearmap Limited (ASX: NEA) ended the session at a price of A$2.840 per share, with a rise of 14.056% on an intraday basis. On the same session, Afterpay Touch Group Limited (ASX: APT) ended the trading session at a closing price of A$31.570 per share, up 7.491%.
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Nearmap Limited Up 14.056% on ASX
Chairman of Nearmap Limited (ASX: NEA) on 14th November 2019 addressed the shareholders at 2019 AGM, stating that following the introduction of panorama and oblique imagery in FY18, its product offerings expanded again with commercial availability of 3D in MapBrowser, fundamentally changing how people shape and view cities throughout North America and Australia. NEA is also making investments in the development of the next generation camera system, enabling a higher, faster and more efficient capture program.
It would continue to execute on its growth initiatives and anticipates annualised contract value for the group to be in line with consensus forecasts in the range of $116 million to $120 million for FY20.
Recent Update on Afterpay Touch Group Limited
Afterpay Touch Group Limited (ASX: APT), on 13th November 2019, released business update for the four months to 31st October 2019. The growth and performance continued across geographies and as channels. The global underlying sales of $2.7 Bn for the period, implying an increase of 110% on pcp.
The release stated that approximately 40,000 merchants are active on Afterpay platform, that is double on pcp (or previous corresponding period), implying onboarding of higher margin SMB merchants as well as key new enterprise merchants. The company further stated that the strategic agreement signed with Mastercard in ANZ would underpin its growth for mid-term.
NEA Daily Technical Chart (Source: Thomson Reuters)
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