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Market Update: Performance of Australian Markets on 11 February 2020




Feb 11, 2020

At the close of trading session on 11th February 2020, the market was in green and the benchmark index S&P/ASX200 settled at 7055.3 after advancing 0.6%. All Ordinaries closed the session at 7151.4 with an increase of 43.4 points. S&P/ASX 200 Consumer Discretionary (Sector) experienced a rise of 0.4% to 2,847.4. S&P/ASX 200 Health Care (Sector) ended the session at 47,084.1, up by 0.73%.

During the session, some companies performed well such as Challenger Limited (ASX: CGF), which closed at A$10.100 with a rise of 13.867%. Steadfast Group Limited (ASX: SDF) inched upward by 5.556% and closed at A$3.990 per share.

Let us now look at NZX Main Board, wherein S&P/NZX50 witnessed the closing at 11,835, up by 1.13%. Blackwell Global Holdings Limited (NZX: BGI) was a top gainer, as its stock price went up by 16.67% and ended the trading at NZ$0.007 per share. New Talisman Gold Mines Limited (NZX: NTL) also closed in green, registering an increase of 14.29% to settle at NZ$0.008.

We have written an article on Triangle Energy (Global) Limited (ASX: TEG) covering important information on the same. Please click here to read the article.

Challenger Limited AUM Up 10% in 1H FY20

Challenger Limited (ASX: CGF) updated the market with its operational and financial performance for half year ended 31 December 2019 (1H FY20). During the period, the company experienced strong growth in assets under management, which resulted in the growth in earnings. Assets under management stood at $86 billion, reflecting an increase of 10% as compared to pcp. The company reported normalised net profit before tax amounting to $279 million, up by $9 million or 3% on the same period a year ago.

During 1H FY20, the company maintained a strong capital position with an amount of $1.5 billion in Challenger Life Company Limited excess regulatory capital above APRA’s minimum requirement and group cash.

On the outlook front, the company is well placed in order to optimise performance while also positioning for future growth. The company is expecting normalised net profit before tax (NPBT) to be at the top end of the range of $500 million to $550 million for FY20.

Steadfast Group Limited Expects $215-225 Million for FY20 Underlying EBITA

Steadfast Group Limited (ASX: SDF) recently announced that Investors Mutual Limited ceased to become a substantial holder in the company on 5th February 2020.

The company is set to release its half year 2020 financial results on 26th February 2020. On the outlook front, for FY20, the company is expecting underlying EBITA in the range of $215 million and $225 million and underlying NPAT of between $100 million and $110 million.


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