Australian equities are very sensitive to the performance of global economy as well as to the health of Australian economy. A rise in economic uncertainties might weigh over the sentiments of the market players and they might decide to make deployments towards safer asset classes. Let us now have a look at how S&P/ASX200 performed on December 6, 2019.
At the close of trading session on 6th December 2019, the Australian market was in green. The benchmark index S&P/ASX 200 closed at 6707, reflecting a rise of 0.4% or 24 points on an intraday basis. All Ordinaries also ended the session with a rise of 22.4 points and reached at 6813.5. Some sectors performed well in the trading session and S&P/ASX 200 Health Care (Sector) stood at 41,214.4 with a rise of 1.07%. Also, S&P/ASX 200 Industrials (Sector) also experienced a growth of 53.1 points and the index reached at 7,092.6.
During the trading session, there were some companies which experienced a rise in their stock price. On December 6, 2019, Carsales.com Limited (ASX: CAR) closed the session at a price of A$16.740 per share with a rise of 3.975% on an intraday basis. Another performer on the ASX was AVITA Medical Ltd (ASX: AVH), which ended at A$0.605 per share, reflecting an increase of 3.419% on an intraday basis.
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BPT Rose 3.75% on ASX
Beach Energy Limited (ASX: BPT) recently noted that Cooper Energy has announced a 4 well appraisal program of the Butlers oil field by the PEL 92 joint venture commenced on 3rd December with the spudding of Butlers-10. Cooper Energy is having 25% interest in joint venture with the balance held by the Operator i.e. Beach Energy.
It was mentioned that the wells would be targeting the Namur Sandstone which is the primary producing reservoir in the field.
On December 6, 2019, Beach Energy Limited (ASX: BPT) closed at a price of A$2.490 per share, which rose 3.75% on the close of trading session.
Carsales.com Limited rose 3.975% on Australian Stock Exchange
Carsales.com Limited (ASX: CAR) recently announced that it has issued 13,614 ordinary shares which involved total consideration of $150,522.14. The company, through a release dated 2nd December 2019, announced key organisational structure changes in order to recognise the increasingly global mindset of the business. Carsales has appointed Ajay Bhatia as Managing Director- Australia which would encompass all of the company’s Australian operations including Dealer, Consumer, OEM and Media. Ajay has expertise of more than 11 years, out of which, Ajay worked for 8 years as the Chief Information and Product Officer, and the last 3 years on the role the Managing Director of the Consumer business.
During FY19, the company’s reported revenue stood at $418 million, reflecting a rise of 11% and adjusted EBITDA stood at $210 million with a rise of 7%.
A Recent Update About AVITA Medical Ltd: What You Need to Know
AVITA Medical Ltd (ASX: AVH) recently announced that Michael Perry has acquired 39,554,252 unlisted restricted stock units, LTI Plan. In another update, it was mentioned that AVITA Medical, and the scientists at the Gates Center for Regenerative Medicine at the University of Colorado School of Medicine made an announcement that preclinical research collaboration in order to establish the proof-of-concept as well as explore further development of spray-on treatment of genetically modified cells for the patients with epidermolysis bullosa (or EB), with the potential applicability to other genetic skin disorders.
CAR Daily Technical Chart (Source: Thomson Reuters)