Market Update: How Australian Markets Performed on December 2, 2019. What Market Players Need to Know?

The Australian markets closed the trading session in green on 2nd December 2019 with the benchmark index S&P/ASX200 inching upward by 0.2% or 16.3 points and settling at 6862.3. We will now have a look at the sectors that aided the benchmark index towards the green zone. On 2nd December 2019, S&P/ASX 200 Utilities (Sector) ended the session at 8,245.9, up 1.06% on an intraday basis. Moreover, on the same day, S&P/ASX 200 Health Care (Sector) ended the session with a rise of 0.83% or 350.8 points, closing the session at 42,106.3. Notably, All Ordinaries at the end of session stood at 6965.3, indicating a rise of 0.2%.

The investors also need to note that there were some companies which witnessed an increase on Australian Securities Exchange (or ASX). Silver Lake Resources Limited (ASX: SLR) closed at a price of A$1.165 per share, up 4.955% on an intraday basis. Bega Cheese Limited (ASX: BGA) stood at A$3.950 per share which implies a rise of 4.497%.

Readers are advised to have a look at the articles covering important information related to few stocks. We have covered information on SHV, TGR, BGA, WBA, AAC, and BUB. To read, please click here.

Silver Lake Resources Reports Decent Operational and Financial Performance

Silver Lake Resources Limited (ASX: SLR) recently announced to have made changes in its substantial holdings in Egan Street Resources Limited on 28th November 2019, with current voting power of 93.33% as compared to the previous voting power of 90.99%. In FY 2019, Silver Lake emerge out as a multi-asset gold producer following the completion of acquisition of Doray Minerals Limited in the month of April 2019.

Overall, FY19 gold production experienced a rise of 6% to 166,695 ounces gold equivalent with gold sales of 171,322 ounces with a rise of 13% in comparison to FY18 at an AISC of A$1,367 per ounce.

The company reported underlying NPAT amounting to A$16.7 million and operating cash flow of A$80 million. After capital investment and exploration, the company was able to continue to build on its enviable record of cash generation with its year end cash and bullion increasing A$25 million to A$131.7 million, while maintaining its debt free balance sheet.

Bega Cheese Limited Rose 4.497% on Australian Stock Exchange

Bega Cheese Limited (ASX: BGA), in mid-November 2019, had announced the appointment of Pete Findlay as Chief Financial Officer of the company, who assumed the role with the group on 11th November 2019. In another update, the company announced that Perpetual Limited and its related bodies corporate made a change to their substantial holdings in the company on 30th October 2019 and the current voting power stands at 14.50% as compared to the previous voting power of 13.45%.

SLR Daily Technical Chart (Source: Thomson Reuters)


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