Market Update: Overview of Performance Of Australian Markets On October 16, 2019

  • Oct 16, 2019 AEDT
  • Team Kalkine
Market Update: Overview of Performance Of Australian Markets On October 16, 2019

Performance of Australian markets is sensitive to the health of broader Australian economy, and any sort of uncertainties that have the potential to disrupt the Australian economy can weigh over the performance of Australian equities. Generally, fear of global economic slowdown prompts investors to sell their equity holdings and, as a result, they might decide to deploy investable capital towards safer asset classes. We would now be having a look at the performance. On October 16, 2019, S&P/ASX200 ended the session in green, as the index witnessed a rise of 84.5 points or 1.3% on an intraday basis to end the session at 6736.5. On the same day, All Ordinaries encountered an increase of 1.2% or 79.9 points to end the session at 6843.2.

We would have a look at how individual stocks performed. On October 16, 2019, Afterpay Touch Group Limited (ASX: APT) and Southern Cross Media Group Limited (ASX: SXL) ended in red, as their share price posted a fall of 7.221% and 6.383%, respectively.

We have written crucial information on stocks and advise investors to have a look at the same. Recently, we have covered DUB, RHP, NET, SKO and GBT. To view, click here.

Silver Lake Resources Limited Rose 8% Intraday: What You Should Know?

Silver Lake Resources Limited (ASX: SLR) recently released activities report for the quarter ended September 2019. In the release, it was mentioned that the group production stood at 59,288 ounces gold as well as 734 tonnes copper (61,929 ounces gold equivalent), and, as per the report, there were sales of 56,683 ounces gold and 613 tonnes copper involving an average price of A$1,995/oz as well as AISC amounting to A$1,260/oz. In the release, it was also stated that the company continues to build financial strength and its cash and bullion rose $24.1 million or 18% to $155.2 million at the end of September 2019 quarter and the listed investments amounted to $5.1 million.

The company has also provided outlook for FY 2020 and it was mentioned that its operations are positioned to deliver into upper end of sales guidance which is in the ambit of 215,000 to 230,000 ounces gold equivalent involving an average AISC range of A$1,375/oz to A$1,450/oz.

On October 16, 2019, the stock of SLR ended in green, as the stock witnessed a rise of 8.333% to end at A$0.975 per share.

Nearmap Releases Annual Report 2019 on October 15, 2019

Nearmap Limited (ASX: NEA) came forward and released annual report for FY 2019, unveiling record growth in the company’s subscription portfolio. The company delivered a suite of revolutionary new products. Also, there was increased traction with respect to the North American business.

On October 16, 2019, NEA ended the day’s session in green, increasing 7.09% to close at A$2.870 per share.

SLR Daily Technical Chart (Source: Thomson Reuters)

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