Market Update: How Australian Market Performed on 5 February 2020?

  • Feb 05, 2020 AEDT
  • Team Kalkine
Market Update: How Australian Market Performed on 5 February 2020?

Trading session on 5th February 2020 ended in green with benchmark index S&P/ASX200 advancing further by 27.4 points to settle at 6976.1. Almost all the sectors ended the day’s trading in green, including S&P/ASX 200 Materials (Sector), which experienced a rise of 143 points and ended the session at 13,933.5. S&P/ASX 200 Health Care (Sector) settled the session at 45,866.1, indicating a surge of 0.62%. Moreover, All Ordinaries stood at 7080.9, reflecting a rise of 33.3 points.

Let us take a glimpse at the performance of some companies. Orocobre Limited (ASX: ORE) increased by 18.954% and closed at A$3.640 per share. Pilbara Minerals Limited (ASX: PLS) settled the session at A$0.345 per share with a rise of 11.29%

Moving towards the performance at NZX Main Board; Smartpay Holdings Limited (NZX: SPY) witnessed a rise of 9.85% and closed at NZ$0.725. Tourism Holdings Limited (NZX: THL) ended the trading session at NZ$3.000, inching upward by 7.14%. Coming to the losers, Geneva Finance Limited experienced a decline of 8.00% and settled at NZ$0.460 per share.

We have covered an article on SUDA Pharmaceuticals Limited (ASX: SUD) with some latest information. To read, please click here.

Orocobre Limited Up 18.954% on Australian Stock Exchange

Orocobre Limited (ASX: ORE), in its activities report for the December 2019 quarter, highlighted that cash costs were down 16% quarter on quarter, owing to challenging market conditions. To retain positive operational cashflow, the company’s flagship operation, Olaroz Lithium Facility achieved a gross margin of 24%. During the quarter, the company also witnessed significant progress on growth projects at the Naraha Lithium Hydroxide Plant and Olaroz Stage 2 Expansion.

Production for the quarter ended December 2019 stood at 3,586 tonnes, reflecting a decline from 3,782 tonnes over previous comparable period. The cash balance of the company stood at US$171.9 million as at 31st December 2019, out of which, the company has set aside an amount of US$11.1 million as a guarantee for the Naraha debt facility.

CIMIC Group Registers Stable Operating Profit in 2019

CIMIC Group Limited (ASX: CIM), on 4th February 2020, announced results for the full year 2019, reporting revenue amounting to $14.7 billion. The company experienced stable operating profit, PBT and NPAT margins of 8.4%, 7.5% and 5.4%, respectively. As per the key personnel of the company, its construction, mining and mineral processing, services and public private partnership operations continued to perform well during 2019.

On the outlook front, the company continued to secure a strong pipeline of new work, building value for its clients via efficiency and innovation in its operations, as well as maintaining its focus on safety. The company is expecting FY20 NPAT in the ambit of $810 million to $850 million, which is subject to market conditions.

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