Generally, stock markets in Australia get affected by global economic concerns as well as health of the global economy. Also, broader performance of the Australian economy influences performance of Australian equities. However, if the Australian economy performs better, the investors might decide to allocate their investable capital towards equities which could help in favorable momentum of broader stock markets. Let’s have a look at the performance of S&P/ASX200.
At the end of the trading session on 21st November 2019, S&P/ASX200 settled in the red zone. With a fall of 49.5 points, the index stood at 6672.9. On the same trading session, All Ordinaries also ended the session in red, indicating a fall of 0.7% or 50.6 points, and settling at 6777.7. We would now be having a look at some stocks, which ended the trading session in green.
Monadelphous Group Limited (ASX: MND) closed the session at a price of A$16.500 per share, indicating a rise of 2.996% on an intraday basis on ASX. On the same day, Southern Cross Media Group Limited (ASX: SXL) ended the trading session at a closing price of A$0.915 per share, with a rise of 2.809% on an intraday basis.
Recently, we have covered some notable information on some companies and the readers can have a glance at the articles. We have provided important information on Kibaran Resources Limited (ASX: KNL). To get acquainted with the information, click here.
Monadelphous Group Limited Secures Rio Tinto Maintenance Services Contract
Monadelphous Group Limited (ASX: MND), on 21st November 2019, updated the market participants regarding a contract for the provisioning of fixed plant maintenance services to Rio Tinto, amounting to over $100 million in aggregate over a time span of five years.
The key personnel of the company stated that MND witnessed growth in its maintenance division in the past two years, with over 50 % rise in revenue.
Southern Cross Media Group Limited Rose 2.809% on Australian Securities Exchange
Southern Cross Media Group Limited (ASX: SXL) recently announced that Melanie Willis made a change to holdings in the company via acquiring 38,889 fully paid ordinary shares in consideration of $35,000.10 on 19th November 2019. Post-change, Melanie Willis holds 148,559 fully paid ordinary shares.
At the Annual General Meeting on 24th October 2019, Chairman of the company addressed the shareholders and stated that despite challenging advertising markets, revenues of the group amounted to $660.1 million with a rise of 0.5% as compared to the previous year. Underlying EBITDA and net profit after tax stood at $159.9 million and $76.2 million, reflecting a rise of 0.9% and 3.1%, respectively.
The Board of the company maintained fully franked dividends amounting to 7.75 cents per share, in line with the previous year. The company is focused on disciplined management of operating costs. It is also increasing its investment in smart audio consumed via internet-enabled devices, protecting and expanding its audiences.MND Daily Technical Chart (Source: Thomson Reuters)