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At the end of trading session on 24th January 2020, the equity market of Australia settled in green. The benchmark index i.e., S&P/ASX200 experienced a rise of 2.5 points and reached at 7090.5. Let us now look at the performance of some sectors, which performed well during the session. S&P/ASX 200 Health Care (Sector) ended the session at 45,193.7, reflecting a rise of 315.9 points. S&P/ASX 200 Industrials (Sector) witnessed an increase of 15.5 points or 0.22% and closed at 7,160.0.

Moving towards the performance of some companies. Downer EDI Limited (ASX: DOW) registered a closing price of A$7.600 per share with a rise of 5.997%. Netwealth Group Limited (ASX: NWL) mounted up by 5.128% and settled at A$8.200 per share on an intraday basis.

Let’s have a look at NZX Main Board. Evolve Education Group Limited (NZX: EVO) became a top gainer on NZX with a rise of 7.41% and closed at NZ$0.174 per share. Barramundi Limited (NZX: BRM) closed the trading session at NZ$0.740, up by 2.78%. Turning to losers, Livestock Improvement Corporation Ltd settled at NZ$0.750 with a decline of 6.25%. Mercer Group Limited (NZX: MGL) fell by 3.77% and closed at NZ$0.255 per share.

We have written an article on Centaurus Metals (ASX: CTM) and Independence Group NL (ASX: IGO) covering important information. To view, please click here.

Downer EDI Limited Experiences a rise of 5.997% on Australian Stock Exchange

Downer EDI Limited (ASX: DOW) recently announced that Vinva Investment Management ceased to become a substantial holder in the company on 22nd January 2020.

The company has been granted a 5-year contract, under which DOW will provide mining and related services at the Meandu Mine. The contract worth around $600 million would provide extension to current operations of the company at the mine, which started in 2013 and is set to expire on 30th June 2020. The new contract would come into effect on 1st July 2020.

Meanwhile, for FY20, the company has revised down its guidance for NPATA to $300 million.

The company would continue to increase its service-oriented businesses, which relatively require a low capital. DOW is expected to continue to deliver predictable revenue in the long term. With respect to liquidity, the company has significant available liquidity amounting to $1.65 billion, which comprises cash of $515 million and committed undrawn facilities of $1.14 billion, as at 31 December 2019.

Netwealth Group Limited Settles in Green on 24 January 2020

Netwealth Group Limited (ASX: NWL) recently updated the market with business activities for the December 2019 quarter. Funds under administration stood at $28.5 billion, reflecting a rise of $3.2 billion. For 1H FY20, the company reported FUA net inflows amounting to $4.4 billion, up $2.4 billion.


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