While the Australian Stock Exchange (ASX) ended up lower today at 6297.6 points by 0.2 per cent, the following stocks were the top three gainers on the ASX and caught investors’ attention today.
Headquartered in Sydney, Australia, Lendlease Group (ASX: LLC) is an international property and infrastructure group that operates across Australia, Asia, Europe and the Americas. The company tries to make the best places by optimising its integrated business model in key gateway cities.
After the news claiming Lendlease a takeover target got published, the investors have been scrambling to buy the company’s shares. The share price of the Lendlease Group jumped sharply on the reports and has continued to climb despite the company releasing a response confirming that it has not received any approach for a takeover. According to certain reports, the company is a potential takeover target by a Japanese firm, Mitsui.
The company’s stock jumped 8.71 per cent closing at AUD 13.850 today. The stock fluctuated between a high and low value of AUD 13.99 and AUD 13.41 respectively. It was the leading stock on the Australian Stock Exchange today. 7,155,028 number of LLC’s shares were in trade today. The company’s market cap was recorded at AUD 7.19 billion. The stock ended in red during the entire last week but climbed today after the speculation of takeover target emerged.
Technology One Limited
Technology One Limited (ASX: TNE) markets , develops, implements and supports enterprise business software solutions. Incorporated in 1983, the company now has 14 offices around the world, employing over 1,200 staff and investing $50 million in Australian innovation.
The company’s stock has continued its pace of growth as it has generated a return of 46.62 per cent in the last six months and has gained 3.169 per cent today. The stock ended up higher at AUD 8.790 today. Around 852,591 number of shares were in trade today, and the market cap of the company was recorded at AUD 2.7 billion. In the past one year, the stock has generated a return of 73.03 per cent. The stock touched a high value of AUD 8.84 today while it opened at AUD 8.66. It was second in the list of top gaining stocks on the ASX today.
In February this year, the company conducted its Annual General Meeting at the Brisbane Convention & Exhibition Centre. The company highlighted its financial results, adoption of AASB 15 in FY19, the outlook for 2019 year and the long-term outlook in the presentation. Mr Clifford Rosenberg was appointed as the independent, Non-Executive Director of TechnologyOne on 27th Feb 2019.
Having 40 per cent ownership in Alcoa World Alumina & Chemicals (AWAC), Alumina Limited (ASX: AWC) invests globally in alumina refining, bauxite mining and selected aluminium smelting operations. Founded on 11th December 2002, the company trades on the Australian Securities Exchange and the OTC Market in the United States.
The stock advanced 2.667 per cent today to AUD 2.310 in comparison to the previously close price. The stock varied between a high price of AUD 2.38 and a low price of AUD 2.29 today. In the last five days, the stock has generated a return of 4.17 per cent.
In its first quarter 2019 earnings report released on 18th April 2019 on ASX, the company reported production of 3.1mt from AWAC refining business and 11.2 mbdt from AWAC mining business. The company delivered an adjusted EBITDA total of $372m from Alcoa Alumina Segment and $126m from Alcoa Bauxite Segment in 1Q 2019.
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