Market Update: Australian Market Closes in Red; What Investors Need to Know?

3 min read | February 03, 2020 09:10 PM AEDT | By Team Kalkine Media

Google News:

Market Update: Australian Market Closes in Red; What Investors Need to Know?

Recent News

DXN AI Data Centre Deal Sparks ASX Penny Stock Buzz

ASX Energy Stocks Watch Oil Tension as Woodside, Santos Move

Lithium's Surprise Revival Puts ASX 200 Miners Back in Focus

Simandou's Arrival Changes the Game for ASX 200 Iron Ore Giants

Make Kalkine Media
My Trusted Source

The equity market of Australia ended in red on 3^rd February 2020, first trading session of the second month of year 2020. The benchmark index S&P/ASX200 settled at 6923.3, reflecting a fall of around 1.4%. All Ordinaries fell by 101.3 points and settled at 7019.9. Let us now look at some sectors’ performance. S&P/ASX 200 Energy (Sector) ended the trading session at 11,113.4 after registering a decline of 468.7 points or 4.22%. S&P/ASX 200 Consumer Discretionary (Sector) witnessed a decline of 1.05% and closed at 2,773.8.

Despite the fall in overall market, some companies performed well, including Service Stream Limited (ASX: SSM), which closed at A$2.760 per share with a rise of 4.943% and Pro Medicus Limited (ASX: PME), which settled at A$25.050, inching upward by 4.375%.

At NZX Main Board, SeaDragon Limited (NZX: SEA) experienced a rise of 50.00% and closed at NZ$0.003. PaySauce Limited (NZX: PYS) settled at NZ$0.700 per share with an increase of 4.48%. When it comes to losers, Geo Limited (NZX: GEO) ended the session at a closing price of NZ$0.075 per share after declining 16.67%.

Previously, we covered an article on OceanaGold Corporation (ASX:OGC) and West African Resources Limited (ASX:WAF). To view, please click here.

Service Stream Limited Up 4.943% on Australian Stock Exchange

Essential network services company, Service Stream Limited (ASX:SSM), an industrial sector player, has appointed Ms. Linda Know as the company’s new Chief Financial Officer (CFO), who would join SSM in May 2020. Ms. Know has strong leadership skills, as well as an extensive finance and commercial career.

In another market update, SSM announced that the D4C consortium has secured a 10-year Sydney Water Corporation contract. SSM’s wholly owned subsidiary Comdain Infrastructure Pty Ltd is part of the consortium.

This contract comprises a mobilisation period of six months, which started in January 2020 followed by two 5-year service delivery terms with a performance review at the end of the first 5 years.

Pro Medicus Limited Ends in Green

Pro Medicus Limited (ASX:PME), recently through a release dated 30^th December 2019, announced that Visage Imaging, Inc., (wholly owned U.S. subsidiary of PME) inked a 5-year, multi-million-dollar contract with Palo Alto based company Nines.

The company added that the offering, which is based on the Visage 7 technology, would be hosted in Google Cloud Platform. The offering would provide the company’s client with a platform that is immensely scalable and highly optimised. The deal would result in base revenue to PME, amounting to more than A$6 million over the life span of the contract with significant upside potential.

Disclaimer

This website is a service of Kalkine Media Pty. Ltd. A.C.N. 629 651 672. The website has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. Kalkine Media does not in any way endorse or recommend individuals, products or services that may be discussed on this site. Our publications are NOT a solicitation or recommendation to buy, sell or hold. We are neither licensed nor qualified to provide investment advice.

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.