Market Update: Equity Market Of Australia Ended In Green: What Investors Need To Know?

  • Jan 29, 2020 AEDT
  • Team Kalkine
Market Update: Equity Market Of Australia Ended In Green: What Investors Need To Know?

At the close of trading session on 29th January 2020, the market was in green. The S&P/ASX200 closed at 7031.5 with an increase of 37 points. On the same trading day, All Ordinaries settled at 7135.9, reflecting a rise of 37.5 points or 0.5%. We will now turn towards the performance of some sectors which performed well. S&P/ASX 200 Financials (Sector) witnessed a surge of 56.4 points and closed at 6,242.5. S&P/ASX 200 Health Care (Sector) closed the trading session at 45,868.7 with a rise of 507.5 points or 1.11%.

Let us now look at the performance of individual companies on S&P/ASX200. Virgin Money UK PLC (ASX: VUK) mounted up to 9.375% and closed at A$3.500 per share. Iluka Resources Limited (ASX: ILU) ended the session at a closing price of A$9.500 per share, indicating a rise of 6.383%. Credit Corp Group Limited (ASX: CCP) stood at A$34.330 per share with a rise of 4.665%.

We will now turn the needle at the gainers and losers at NZX Main Board. Augusta Capital Limited (NZX: AUG) experienced a rise of 18.26% and closed the session at NZ$1.975. Smartpay Holdings Limited (NZX: SPY) stood at NZ$0.635 per share and inched up by 13.39%. Coming on the losers, QEX Logistics Limited (NZX: QEX) witnessed a decline of 7.41% and settled at NZ$0.750.

Previously, we have covered important information on VRX Silica Limited (ASX: VRX) and we advise the readers to have a look at the article. To read, please click here.

Virgin Money UK PLC’s Decent Performance in Q1 FY20

Virgin Money UK PLC (ASX: VUK), on 28th January 2020, updated the market with trading update for Q1 FY20 and stated that group continues to perform well during the period. The performance of the company was on track in challenging market. The company experienced customer deposit growth of 1.6% in the first quarter and the figure stood at £64.8 billion along with good relationship deposit performance. During Q1, the net Interest Margin (NIM) stabilised at 160 basis points. The Group happens to be strongly capitalised and it has a CET1 ratio of 13.1%, that reflects a reduction of approximately 20bps (or basis points) because of RWA growth from asset mix as well as business lending seasonality.

Credit Corp Group Limited Ended The Session In Green

Credit Corp Group Limited (ASX: CCP) recently release its results for the 1H FY20 and outlined that it has experienced a rise of 15% in net profit after tax (NPAT), which amounted to $38.6 million. There was improvement of 13% in consumer loan book to $230 million. The company is expecting growth in the range of 15% to 18% in NPAT for fiscal 2020. The focus of the company in the US has been on expanding productive capacity in order to match investment growth over a prolonged period.

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