The Australian markets are affected by macro-economic factors and by health of the global economy. If the health of global economy worsens, it might negatively impact the sentiments of market players. Owing to which, they might decide to sell their existing holdings in equities. Let us now have a look at the performance of Australian markets.
At the market close on 18th November 2019, S&P/ASX200 ended the session in red, after declining 26.9 points and settling at 6766.8 On the same trading session, All Ordinaries also closed the session in red, indicting a fall of 0.4% or 27.2 points, thus the index stood at 6871.7. We would be having a glance at some of the individual companies that ended the trading session in green and filled the pockets of market players.
At the close of session, Appen Limited (ASX: APX) ended the trading session at a price of A$26.430 per share, reflecting a rise of 13.385% on an intraday basis and emerging out as a star performer on ASX. On the same day, Coca-Cola Amatil Limited (ASX: CCL) ended the session at a closing price of A$11.430 per share, with an increase of 4.862% on an intraday basis.
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Appen Limited Increases Full Year Guidance
Appen Limited (ASX: APX), on 18th November 2019, updated the market with an upgrade to its full year 2019 earnings guidance. For the year ending on 31st December 2019, the company expects to register underlying EBITDA in the range of $96 Mn to $99 Mn. It added that this forecast translates November and December performance at A$1=US$0.74, whereas translation at current levels is expected to add a further $1.0 Mn - $1.5 Mn to underlying EBITDA.
As per the report, the upgraded FY 2019 earnings guidance was attributed to increase in monthly relevance revenues as well as margins, mainly from the existing projects with existing customers.
Coca-Cola Amatil Limited Rose 4.862% on Australian Securities Exchange
Coca-Cola Amatil Limited (ASX: CCL) recently conducted its investor day and MD of the group utilised the opportunity to provide an update on progress made in 2019, highlighting that Amatil is set to complete the second year of its two-year transition program by the end of 2019, and placing itself for growth from 2020. The company made progress against sugar reduction targets with a net decline of 7% in Australia, 4.1% in New Zealand and 7.8% in Indonesia.
MD of CCL added that its Australian Beverages business is placed for growth in 2020 with wrap up of the additional $10 Mn investment in its Accelerated Growth Plan and with container deposit schemes in NSW (New South Wales) and Queensland (QLD) substantially embedded this year.
It was mentioned that the New Zealand & Fiji, Papua New Guinea and Alcohol & Coffee segments are anticipated to deliver growth in line with the Shareholder Value Proposition.APX Daily Technical Chart (Source: Thomson Reuters)
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