Market Update: How Australian Market Performed on 21 January 2020?

  • Jan 21, 2020 AEDT
  • Team Kalkine
Market Update: How Australian Market Performed on 21 January 2020?

On 21st January 2020, the Australian market closed the trading session in red. The benchmark index i.e., S&P/ASX 200 settled at 7066.3 with a fall of 13.2 points or 0.2%. At the close of the session, All Ordinaries also ended in red and settled at 7180.5, reflecting a fall of 15.8 points. Let us now look at the performance of some sectors. S&P/ASX 200 Consumer Staples (Sector) mounted up with 137.9 points and stood at 13,245.6 and S&P/ASX 200 Health Care (Sector) settled at 44,454.7 with an increase of 109.5 points or 0.25%.

Despite the fall in the overall equity market, some companies performed well and managed to end their respective session in green. IPH Limited (ASX: IPH) inched upward by 2.125% and closed at A$9.130 per share. Fletcher Building Limited (ASX: FBU) settled with a rise of 2.124% on an intraday basis and stood at $5.290.

Turning the needle at NZX Main Board, Moa Group Limited (NZX: MOA) became a top gainer after inching upward by 6.90% and closing at NZ$0.310 per share. Also, Wellington Drive Technologies Limited (NZX: WDT) witnessed an increase of 5.16% and ended the session at NZ$0.163. PaySauce Limited (NZX: PYS) experienced a fall of 11.46% and closed at NZ$0.850. Mercer Group Limited (NZX: MGL) indicated a decline of 7.27% and settled at NZ$0.255.

We have written an article on MRG Metals Limited (ASX: MRQ), covering important information that can be read here.

IPH Limited Settles in Green on Australian Stock Exchange

IPH Limited (ASX: IPH) during its 2019 Annual General Meeting unveiled to have delivered continued double-digit revenue as well as earnings growth in its Asian operations and improved margins in its Australian and New Zealand businesses.

Statutory net profit after tax of the company stood at $53.1 million, up 31%. This led the diluted earnings per share to increase by 29% to 26.7 cents. Given the improvement in financial performance, the Board declared a final dividend amounting to 13 cps, 60% franked. This took the full year dividend amount to 25 cps, reflecting an increase of 11% as compared to the previous year.

The company continued to leverage its existing network to grow the Asian business, enabling to register double-digit growth in the business for the third consecutive half.

Fletcher Building Limited Experiences a Rise of 2.124%

Fletcher Building Limited (ASX: FBU) is set to release financial results for six months ended 31 December 2019 on 19th February 2020.

In another update, the company announced to have appointed Dan Beecham for the role of Chief Information Officer, effective 3 February 2020. The company added that the strong customer focus of Dan would prove an asset to FBU and support the businesses in harnessing technology for competitive advantage.

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There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.

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