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The performance of Australian markets might get derailed if the global economic uncertainties witness a rise as the investors might decide to sell their holdings in equities. Also, performance of the Australian markets is sensitive to the trade battle between the US and China. Coming to the performance on September 30, 2019, S&P/ASX200 closed the session in red, as the index fell by 0.4% or 27.8 points on an intraday basis to end the session at 6688.3.
On the same day, All Ordinaries witnessed a fall of 0.3% or 23.5 points to end the session at 6800.6. Coming to the performance of stocks on September 30, 2019, Nufarm Limited (ASX:NUF) and Costa Group Holdings Limited (ASX:CGC) ended the session by rising 26.457% and 6.232%, respectively. On the other hand, Webjet Limited (ASX; WEB) and NIB Holdings Limited (ASX:NHF) fell by 4.298% and 3.567%, respectively, on the intraday basis.
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Nufarm to Sell South American Operations
Nufarm Limited (ASX:NUF) announced to have entered into an agreement for the sale of its South American business in Argentina, Brazil, Colombia and Chile to Sumitomo Chemical Company Limited for a consideration of $1,188 million in cash. The following pointers should be noted by the investors:
- The companies would enter into a two-year supply and transactional services agreement;
- Nufarm would purchase $97.5 million worth of preference securities issued to Sumitomo in the month of August 2019.
SSM Enters into Agreement with Optus
Service Stream Limited (ASX:SSM) came forward and made an announcement that it has secured a 5G Wireless Design & Construction Agreement with Optus. Following are some of the key points which are worth knowing:
- Agreement is in the form of Statement of Works for Mobile Deployment (or SOW) with Optus Mobile Pty Ltd;
- Under this SOW, in the initial phase, SSM would be providing site acquisition, design and construction services on the Optus network nationally, in respect of the 5G;
- The total term for SoW is 3 years with option of 1-year extension.
BPL Seeking to Raise $0.5 Million
Broken Hill Prospecting Limited (ASX:BPL) unveiled plans to garner $0.5 million through a non-underwritten placement of 20 Mn ordinary shares at a price of $0.025 per share. The following are the key points which should be noted:
- Placement price is available at a discount of 22% to the closing price of September 27, 2019;
- The company is also planning to garner up to $1.1 Mn via Share Purchase Plan (or SPP), involving an issue price of $0.025 per share
New World Cobalt Receives Commitments for Capital
New World Cobalt Limited (ASX:NWC) has received commitments to garner $2 Mn via share placement involving $0.02 per share. The issue price reflects a 10% discount to its 20-day VWAP. It was further added that the participants in placement would be issued 1 free attaching unlisted option for every 4 shares they subscribe for in placement.
NUF Daily Technical Chart (Source: Thomson Reuters)
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