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The equity market of Australia was in green at the end of session and S&P/ASX200 closed at 6395.7 with an increase of 1.1%. We will now have a look at the performance of some sectors. S&P/ASX 200 Health Care (Sector) witnessed a rise of 2.67% and stood at 44,733.5 and S&P/ASX 200 Consumer Staples (Sector) ended the session at 12,392.6, up by 1.97%. All Ordinaries stood at 6472.4, reflecting an increase of 73.9 points.
Some companies performed well on ASX like TPG Telecom Limited (ASX: TPM), which witnessed an increase of 9.562% and stood at $8.250 per share. Elders Limited (ASX: ELD) rose by 8.46% to $8.590 per share.
At NZX Main Board, BLIS Technologies Limited (NZX: BLT) experienced a rise of 15.38% to NZ$0.060 and Sky Network Television Limited (NZX: SKT) increased by 9.80% and closed at NZ$0.560 per share. On the other side, Geo Limited (NZX: GEO) stood at NZ$0.050, reflecting a drop of 23.08%.
We have written an article on SciDev Limited (ASX:SDV) with latest information. We advise the readers to have a look at the information by clicking here.
TPG Telecom Limited Closed the Session in Green
TPG Telecom Limited (ASX:TPM) recently noted that Australian Competition & Consumer Commission will not appeal on the decision of Federal Court that proposed merger of TPG Telecom Limited (ASX:TPM) and Vodafone Hutchison Australia (ASX:HTA) will not substantially lessen the competition. The company reported operating cashflow after tax of $339.1 million during 1H FY20. The total capital expenditure for the period stood at $546.0 million, which included the final instalment of $352.4 million for the Australian 700MHz spectrum acquired at auction in 2017. This also include $68.9 million for the Singapore mobile network build.
The Board of the TPM declared an interim dividend (fully franked) amounting to 3.0 cents per share. The company will be paying the said dividend on 19th May 2020 with the record date of 14th April 2020. For BAU segment, the company is expecting EBITDA in the range of $775 million- $785 million for FY20.
Elders Limited Rose by 8.46% on Australian Stock Exchange
Elders Limited (ASX:ELD) recently announced that Perpetual Limited and its related bodies corporate have made a change to their substantial holdings in the company on 2nd March 2020 and the current voting power stands at 10.69% as compared to the previous voting power of 9.49%. The company would be releasing its half-year 2020 results on 18th May 2020. The company stated that there was no damage to its property from the recent bushfire and its all branches were operational.
During FY19, the company reported underlying return on capital of 18.2%, which was slightly below its target of 20% due to lower earnings. The lower earnings were resulted by decreased wool volumes and poor summer cropping season, rise in rural products and livestock capital balances as well as the increased capital associated with its recent acquisitions.
