The equity market of Australia closed in the green on 18th May 2020 and S&P/ASX200 settled at 5460.5, reflecting an increase of 55.7 points or 1.03%. S&P/ASX 200 Consumer Discretionary (Sector) went up by 1.34% to 2,176.2. S&P/ASX 200 Energy (Sector) closed at 7,173.0 with a rise of 196.3 points. Notably, All Ordinaries ended at 5557.5, indicating a rise of 1.18% on an intraday basis.
Some companies on ASX settled in green such as Saracen Mineral Holdings Limited (ASX: SAR), which closed at $5.620 with a rise of 11.287%. AP Eagers Limited (ASX: APE) rose by 10.366% to $5.430 per share. Elders Limited (ASX: ELD) inched up by 9.883% to $10.340 per share.
S&P/NZX50 settled at 10,758 with an increase of 0.25%. AFT Pharmaceuticals Ltd (NZX: AFT) soared 5.75% to NZ$4.600. Moa Group Limited (NZX: MOA) moved up by 4.65% and closed the session at NZ$0.180 per share. On the other hand, SeaDragon Limited (NZX: SEA) plunged 10.59% to NZ$0.076 per share.
Recently, we have written some crucial information on MRG Metals Limited (ASX:MRQ), and the readers can view the article by clicking here.
Saracen Mineral Holdings Limited Rose 11.287% on Australian Stock Exchange
Saracen Mineral Holdings Limited (ASX: SAR) recently announced that it has appointed Sally Langer as an Independent Non-Executive Director on the Board, with effect from 1st May 2020. In another update, SAR released its results for the quarter ended 31st March 2020 and reported quarterly gold production of 158,132 ounces at AISC of A$1,133/oz. The company reported gold sales for the period of 165,798 ounces at a record average price of A$2,228/oz, which helped the company in generating revenue amounting to A$369 million. The production for nine months ended March 2020 stood at 374,584 ounces. At Thunderbox, Saracen reported record gold production of 50,091 ounces at AISC of A$682/oz. The company closed the quarter with cash and equivalents of A$340.3 million. SAR is expecting gold production of more than 500,000 ounces and 600,000 ounces for FY20 and FY21, respectively.
Elders Limited Ended in Green on 18th May 2020.
Elders Limited (ASX: ELD) has recently released its results for 1H FY20 and reported underlying earnings before interest and tax amounting to $52.8 million against $34.0 million of pcp. Operating cash inflow for the period stood at $27.4 million, which reflected EBITDA of $60.0 million. The return on capital of the company stood at 17.7% as compared to 17.1% of 1H FY19. This increase is due to improved Livestock and retail returns. The company is focused on maintaining balanced organic growth while maintaining its cost base. For FY20, the company expects EBIT in the range of $96.5 million and $112.9 million and NPAT of between $85.8 million and $102.9 million. The company added that the global COVID-19 implications would continue to create some continuing uncertainty in market demand and agricultural supply chains.