Market Update: Australian Market Closes in Green; What Investors Must to Know?

  • Jan 20, 2020 AEDT
  • Team Kalkine
Market Update: Australian Market Closes in Green; What Investors Must to Know?

The equity market of Australia closed in green on 20th January 2020, as the benchmark index i.e., S&P/ASX 200 advanced further by 15.4 points or 0.2% to settle the day’s trading session at 7079.5. Let us now look at the performance of some sectors including S&P/ASX 200 Health Care (Sector), which closed at 44,345.2 after moving upward by 0.73% and S&P/ASX 200 Materials (Sector), which stood at 14,673.8 after a surge of 166.1 points or 1.13%. The day ended for All Ordinaries at 7196.3, indicated an increase of 0.2%.

Moving to the performance of some companies. Silver Lake Resources Limited (ASX: SLR) closed at A$1.505 and witnessed a rise of 6.738%. Fortescue Metals Group Ltd (ASX: FMG) at the end of trading day settled at A$11.830 per share, going up by 3.681% on an intraday basis.

Looking at few gainers and losers at NZX Main Board, New Talisman Gold Mines Limited (NZX: NTL) became the top performer on NZX after experiencing a rise of 16.67% and closing at NZ$0.007 per share. NZME Limited (NZX: NZM) registered an increase of 5.26% on an intraday basis and settled at NZ$0.400 per share. When it comes to losers, Gentrack Group Limited (NZX: GTK) experienced a decline of 13.60% and marked the closing at NZ$2.350 per share. Green Cross Health Limited (NZX: GXH) settled at NZ$1.300 per share after declining 5.80%.

Recently, we covered an article on minerals development company BlackEarth Minerals (ASX: BEM) that can be read here.

Silver Lake Resources Limited Up 6.378%

Silver Lake Resources Limited (ASX: SLR) has recently released its quarterly activities report for the period ended 31 December 2019, highlighting that gold production for the quarter stood at 68,519 ounces with gold sales of 66,074 oz and copper sales of 694 tonnes at an average sale price of A$2,028/oz and AISC of A$1,192/oz. With respect to Mount Monger, the company witnessed strong production results at all three mining centres, driving an increase in milled tonnes and grade for gold production of 39,854 ounces.

For the three-month period ended December 2019, the company continued to build its financial strength and experienced a rise of $31 million or 20% in cash and bullion and the figure stood at $186 million.

On the outlook front, sales are expected to witness a rise in the range of 240,000 - 250,000 ounces gold equivalent for FY20 at a decreased average AISC range of A$1,300/oz to A$1,350/oz.

Fortescue Metals Group Ltd in Green on Australian Stock Exchange

Fortescue Metals Group Ltd (ASX: FMG) in its recent presentation stated that it is driving growth via investment in new projects. Also, it is building its business for long term success, which is supported by its values and cultures.

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There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.

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