The Australian market closed the trading session in red on 4th December 2019, with the benchmark index S&P/ASX200 settling at 6606.5 after registering a decline of 1.6% or 105.8 points. Moreover, in the same trading session, S&P/ASX 200 Consumer Staples (Sector) witnessed a fall of 2.27% and closed at 12,596.6. In addition, S&P/ASX 200 Energy (Sector) posted a decline of 225.5 points, settling at 11,197.2. The market participants also need to know that All Ordinaries Index closed the session at 6714.4, down 1.5% or 104 points from the last closing session.
During the trading session, some companies performed very well and ended the trading session in green. Companies like oOh!media Limited (ASX: OML) closed the session at A$3.730 per share, reflecting a rise of 23.92% on an intraday basis. The stock price of Gold Road Resources Limited (ASX: GOR) also traded in green at the end of trading session. With a rise of 7.834%, the GOR stock closed at a price of A$1.170 per share.
Previously, we had written some important information on gold developer Bassari Resources Limited (ASX: BSR). We advise the readers to have a look at the information. To read the information, please click here.
oOh!media Limited Announces Guidance for FY19
oOh!media Limited (ASX: OML), on 3rd December 2019, updated the market with its anticipated earnings for the year ended 31 December 2019. OML confirmed that it anticipates FY19 underlying EBITDA to surpass its earlier forecast while revising FY19 underlying EBITDA guidance in the range of $138 Mn to $143 Mn, excluding integration costs as well as the impact from the change in accounting standards to AASB16. The company’s previous guidance for underlying EBITDA was in the ambit of $125 Mn to $135 Mn, excluding integration costs and the impact of AASB16, subject to trading conditions.
The company also expects growth in operational expenditure to be within the previous forecast range of 5%-7%. The capital expenditure for FY19 has been anticipated to be at the mid to lower end of the $55-$70 Mn forecast range. The company is aiming a leverage ratio below or approaching 2 times in 2020. Additionally, OML reconfirmed that integration of Commute is on track with an expected exit run-rate of $16 Mn in cost synergies for FY 2019.
Quarterly Performance of Iluka Resources Limited
Iluka Resources Limited (ASX: ILU) recently announced that total Z/R/SR production for the third quarter stood at 198 thousand tonnes, reflecting a rise of 16% from 169 thousand tonnes in the June quarter. In the report, it was mentioned that Zircon market conditions in Q3 were affected by global economic uncertainties. Businesses including Iluka customers are reducing the Zircon inventories across supply chain as business sentiment remains subdued when it comes to key markets.
Let us look at the performance of the stock of Iluka Resources Limited on ASX. On 4th December 2019, the stock of ILU ended the session in green, as the stock price witnessed settled at $9.420 per share which implies an increase of 2.726% on an intraday basis.OML Daily Technical Chart (Source: Thomson Reuters)
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