Market Update: How Australian Market Performed on 10 February 2020?

  • Feb 10, 2020 AEDT
  • Team Kalkine
Market Update: How Australian Market Performed on 10 February 2020?

The first trading session of the week ended in red with benchmark index S&P/ASX200 settling at 7012.5 after declining by 10.1 points. All Ordinaries also witnessed a decline of 13.4 points and closed at 7108. Let us now have a look at the performance of some sectors including S&P/ASX 300 Metals and Mining (Industry), which settled at 4,472.5 after declining 0.33% and S&P/ASX 200 Resources, which closed the session at 4,838.5 with a drop of 23.2 points.

Meanwhile, there were several listed companies that ended the session in green. JB Hi-Fi Limited (ASX: JBH) witnessed a rise of 11.496% and closed at A$44.710 per share. Evolution Mining Limited (ASX: EVN) ended the session at A$4.060, up by 7.692%.

At NZX Main Board, Moa Group Limited (NZX: MOA) stood at a price of NZ$0.290 after advancing 11.54%. Plexure Group Limited (NZX: PLX) settled at NZ$0.860 per share, witnessing an increase of 8.86% on an intraday basis. Coming to the losers, including New Talisman Gold Mines Limited (NZX: NTL), which plunged by 12.50% and closed at NZ$0.007 per share.

Previously, we covered an article on BPH Energy Ltd (ASX: BPH) with important information that can be read here.

JBH Registers Record Sales and Earnings in First Half of FY20

JB Hi-Fi Limited (ASX: JBH), on 10th February 2020, notified the market with its results for the first half of financial year 2020, registering record sales and earnings during the period with strong earnings growth in JB HI-FI Australia and The Good Guys.

Total sales during the period grew by 3.9% to A$4.0 billion with positive comparable sales growth across all three divisions of the business. Net profit after tax stood at A$174.4 million, reflecting a rise of 8.9%.

With respect to capital management, the company declared a fully franked interim dividend amounting to 99 cents per share, up 8.8%. The company is scheduled to pay the dividend amount on 6th March 2020 with record date of 21st February 2020.

Evolution Mining Limited Up 7.692% on Australian Stock Exchange

Evolution Mining Limited (ASX: EVN) recently announced that La Mancha Group International B.V. and its associates ceased to become a substantial holder in the company on 5th February 2020.

For the quarter ended 31st December 2019, EVN reported mine operating cash flow amounting to A$233.1 million and net mine cash flow stood at A$144.4 million. On the outlook front, the company is anticipating gold production for FY20 to be around 725,000 ounces. AISC is anticipated in the ambit of A$940/oz – A$990/oz.

The company is due to release its results for 1H FY20 on 12th February 2020.

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