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Australian markets are generally affected by the overall health of the global economy as well as by the performance of global markets. Global economic uncertainties have the potential to derail the performance of the Australian economy and the trade war between the US and China can disrupt the global business environment. The trade war settlement could positively impact the broader Australian markets and prompt investors to make deployments towards equities.
On September 25, 2019, S&P/ASX200 fell by 0.6% to end at 6710.2, while All Ordinaries witnessed a fall of 0.6% to settle at 6814.7. Coming to the performance of stocks on Australian Securities Exchange, Afterpay Touch Group Limited (ASX: APT) and Bravura Solutions Limited (ASX: BVS) rose by 13.314% and 4.106%, respectively.
However, on September 25, 2019, Pro Medicus Limited (ASX: PME) and Beach Energy Limited (ASX: BPT) fell by 5.803% and 5.576%, respectively. Recently, we have provided information about WES and KDR. To read the information provided, please click here.
Afterpay Submits Interim Report of External Auditor to AUSTRAC
Afterpay Touch Group Limited (ASX:APT) recently made an announcement regarding the submission of the confidential interim report of external auditor- Mr Neil Jeans to the Australian Transaction Reports and Analysis Centre (AUSTRAC). The following points are crucial for investors:
- Mr Jeans stated that work is under process to wrap up the assessment of, and test implementation and compliance with, various AML/CTF Programs in place during as well as after notice period;
- APT mentioned that payment system of the company could not be used for international fund transfers, as well as the system has strict spending limits.
Retail Food Group Responds to Media Speculation
Retail Food Group Limited (ASX: RFG), on September 25, 2019, made an announcement titled âResponse to Media Speculation.â RFG stated that it is considering debt reduction options, which include equity as well as debt funding options and asset sales. Following are the key points for readers:
- No decision has been finalised with respect to any funding.
- Discussions are underway with Soliton with regards to its proposal.
Family Zone Appoints New Director
Family Zone Cyber Safety Ltd (ASX: FZO) announced to have received binding commitments to raise $4.75 million through an issue of ~33.9 million shares at $0.14 per share. Additionally, the company appointed Mr. Peter Pawlowitsch as Non-Executive Chairman.
- New appointment is a result of a strategic review to capitalise on market opportunities
- Two existing directors would be exiting the company
- Fresh capital would be used to support investment in business development, particularly in the high growth US market. Besides this, capital would be utilised to support investment in engineering and product as well as towards inventory and working capital.
APT Daily Technical Chart (Source: Thomson Reuters)
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