While the equity markets reported a dip in China and Australia, those in Hong Kong and South Korea moved up the ladder. Meanwhile, the stocks in Europe declined and the U.S. index futures witnessed fluctuations at the commencement of a holiday-truncated week packed with data releases that will offer clues on the global economic growth. Besides, the crude oil prices recently witnessed a steep fall in the global market as the oil stockpiles in the United States grew significantly. The treasuries and the dollar remained steady.
Moreover, the Australian dollar (AUD/USD) experienced an upward movement by 0.0011, up 0.16% to the current price of 0.7050 after reporting a weakening trend in the last week post the release of Australia’s quarterly CPI inflation data that came in at no change to the surprise of the market players and against an expectation of +0.2% for the March 2019 quarter.
The S&P/ASX 200 closed the market trading session, recording a decline on April 29th, 2019 by a percentage of -0.41% to the current value of 6,359.5. The downward movement was fuelled by the 0.75% (84.3 points) dip in the S&P/ASX 200 Energy index to the present value of 11,313.9 followed by the S&P/ASX 200 Industrials Index with the second largest percentage fall of 0.72% to 6,494.7.
The top gainers for the day include HUB24 Ltd, Afterpay Touch, Nearmap, Pinnacle and G8 Educations.
The Industrials sector player Nearmap Ltd (ASX: NEA) closed the session at AUD 3.560, up 4.09% with ~ 2.61 million shares traded following its update on the issue of 708,345 fully paid ordinary shares on conversion of options. Of these, 583,345 shares were issued to key Management personnel of the company while the remaining 125k shares were issued to the employees. NEA’s YTD return also stands high and positive at 123.53%.
Meanwhile, the S&P/ASX 200 Financials Index also stepped down 0.6% by 36.8 points to 6,106.3. However, the financial services company HUB24 Limited’s (ASX: HUB) stock price edged up on the market by 4.95% to AUD 14.840, with ~ 516,306 shares traded. With HUB’s YTD return at 21.79%, the company also recorded net inflows of $ 793 million and gross inflows of $ 1.2 billion for the quarter ended March 31st, 2019. HUB’s funds under management (FUMs) stood at $ 11.5 billion, up 55.7% on March 2018.
Besides, Pinnacle Investment Management Group Limited (ASX: PNI), one more financial stock, also edged up 3.89% settling the trading at AUD 6.130. It has an annual dividend yield of 2.22% and PNI’s YTD return is high and positive at 38.82%. Pinnacle reported a net profit of ~ $ 10.11 million for the half-year ended December 31st, 2018 with net assets of $ 165.26 million.
The S&P/ASX 200 Information Technology Index moved up by 0.59% to the current value of 1,372.4, by 8.1 points. The rise was perhaps supported by its constituent Afterpay Touch Group Limited (ASX: APT) as the APT stock price settled the day’s session at AUD 24.920, up 4.62% by AUD 1.100 and trending up in the last 5 days following the company’s announcement concerning the Afterpay US Inc. 2018 Equity Incentive Plan as the Group’s business in the US is expanding.
G8 Education Limited (ASX: GEM), a provider of developmental and educational child care services, the last gainer for the day, closed the market trading at AUD 3.070, also up 3.37% by 0.100 while the S&P/ASX 200 Consumer Discretionary Index dipped 0.18% to 2,439.5.
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