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How Have Australian Markets Performed on February 7, 2020?




Feb 07, 2020

As the market players are aware, the global stock markets are sensitive to the macro-economic factors, and if global growth comes into question, the stock markets can be negatively impacted. Notably, Australian stock markets can also be influenced by the performance of the Australian economy. Let us have a look at how S&P/ASX200 performed. On February 7, 2020, S&P/ASX200 ended the session in red as the index stood at 7022.6, which reflects a fall of 26.6 points or 0.4% on an intraday basis. On the same day, All Ordinaries ended at 7121.4, implying a fall of 27.3 points on an intraday basis.

Coming to the NZX Main Board, Kathmandu Holdings Limited (NZX: KMD) ended the session in green as the stock rose by 12.79% to NZ$3.440 per share. Also, PaySauce Limited (NZX: PYS) witnessed a rise of 11.45% on an intraday basis to end the session at NZ$0.730 per share.

Release of Activity Report for December 2019 Quarter

Gold Road Resources Limited (ASX: GOR) recently came forward and made an announcement about its activity report for the quarter ended December 31, 2019. As per the release, Gruyere managed to deliver another milestone with the first full quarter of production producing 70,023 ounces of gold (100% basis) as well as an All-in-Sustaining Cost (or AISC) of A$1,102 per ounce attributable to Gold Road. Both were in line with guidance. It was also mentioned that the final capital cost for Gruyere construction had been confirmed at A$610 Mn, which is below final forecast capital estimate of A$621 Mn. Gold Road’s total share of final capital cost has been confirmed at A$280.6 Mn, that is below A$284 million budget estimate, and the final joint venture support costs have been confirmed below budget at A$15.4 Mn.

Let us now have a look at how GOR has performed. On February 7, 2020, Gold Road Resources Limited witnessed a rise of 9.343% on an intraday basis to A$1.580 per share.

PNI Releases its Interim Financial Results for 1H FY 2020

Pinnacle Investment Management Group Limited (ASX: PNI) came forward and released the highlights of financial results for the 6 months to December 31, 2019 (or 1H FY 2020). The company’s net profit after tax (or NPAT) amounted to $13.8 million, reflecting an increase of 36.6% from $10.1 Mn in prior corresponding period (or pcp). The FUM of PNI’s 15 Affiliates as at December 31, 2019, amounted to $61.6 Bn (which includes $3.0 Bn ‘acquired’ in December 2019) implying a rise in FUM of $7.3 Bn or 13.4% during six-month period ended December 31, 2019.

Coming to the information related to dividends, the Board of the company decided to pay fully franked interim dividend amounting to 6.9 cents per share to shareholders. This reflects the payout ratio of 90% of diluted EPS, which happens to be consistent with the FY 2019 payout ratio.

On February 7, 2020, the stock of PNI ended at A$5.760 per share, reflecting an increase of 3.411% on an intraday basis.


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