Market Update: How Australian Markets Performed on October 24, 2019?

  • Oct 24, 2019 AEDT
  • Team Kalkine
Market Update: How Australian Markets Performed on October 24, 2019?

As market players are aware, rise in global uncertainties might impact the core business activities of global companies and can also weigh over the performance of broader Australian economy. If the growth of Australian economy gets impacted, Australian equities can also witness negative impacts as investors might decide to sell their holdings in stocks and make deployments in safer asset classes. We would now have a look at the performance on October 24, 2019.

S&P/ASX200 ended the session in green, as there was an increase of 20.5 points or 0.3% on an intraday basis to end the session at 6693.6. On the same day, All Ordinaries closed the session at 6796.7, which implies a rise of 0.3% or 18.5 points on an intraday basis. We would now have a look at how individual stocks performed on October 24, 2019.

On Australian Securities Exchange, The Star Entertainment Group Limited (ASX: SGR) ended the session in green, reporting a rise of 5.381% and ending the session at A$4.700 per share. On the same day, WiseTech Global Limited (ASX: WTC) and Nearmap Ltd (ASX: NEA) closed the session in red, as there was a fall of 6.835% and 5.051%, respectively, in their share price on an intraday basis.

We have recently provided important information on stocks and we advise investors to have a look at the same. We have covered Roots Sustainable Agricultural Technologies Ltd (ASX: ROO) and investors can click here to read the information provided.

A Recent Update on JB Hi-Fi Limited

JB Hi-Fi Limited (ASX: JBH) released its Q1 FY 2020 sales update, reporting total sales growth for JB H-FI Australia of 4.7% as compared to 5.3% in the pcp with the comparable sales growth of 3.7% (as compared to pcp figure of 3.4%). The total sales growth for JB HI-FI New Zealand stood at 3.8% while in pcp it was 4.0%, with the comparable sales growth of 3.8% (9.8% in Q1 FY 2019). During the first quarter of FY 2020, total sales growth for The Good Guys stood at -0.5% (while in pcp it was 2.3%), with the comparable sales growth of -1.8% (as compared to 1.0% in pcp).

The release issued by the company also contained information about sales guidance for FY 2020. The company reaffirmed its previously announced guidance for FY2020 of total sales of around $7.25 billion. Out of this, JB HI-FI Australia is expected to contribute $4.84 billion, JB HI-FI New Zealand might contribute (NZD) $0.24 billion and The Good Guys is expected to make a contribution of $2.18 billion.

Let us now have a look at how the stock of JBH performed on ASX. On October 24, 2019, the stock price of JBH ended the session in green, as there was an increase of 6.766% and the session was closed at A$36.450 per share.

JBH Daily Technical Chart (Source: Thomson Reuters)

Disclaimer

This website is a service of Kalkine Media Pty. Ltd. A.C.N. 629 651 672. The website has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. Kalkine Media does not in any way endorse or recommend individuals, products or services that may be discussed on this site. Our publications are NOT a solicitation or recommendation to buy, sell or hold. We are neither licensed nor qualified to provide investment advice.

 

All pictures are copyright to their respective owner(s).Kalkinemedia.com does not claim ownership of any of the pictures displayed on this website unless stated otherwise. Some of the images used on this website are taken from the web and are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it below the image.

 

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

Are you wondering if the year 2020 might not have taken the right start? Dividend stocks could be the answer to that question.

As interest rates in Australia are already at record low levels, find out which dividend stocks are viewed as the most attractive investment opportunity in the current scenario in our report.

CLICK HERE FOR YOUR FREE REPORT!
   
x
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK