Market Update: How S&P/ASX200 Performed on December 5, 2019?

  • Dec 05, 2019 AEDT
  • Team Kalkine
Market Update: How S&P/ASX200 Performed on December 5, 2019?

As the market players are aware, the stock markets in Australia is generally influenced by the broader performance of Australian economy as well as by the health of global economy. A rise in the economic uncertainties might negatively impact the stock markets as the investors might decide to deploy capital towards safer asset classes. The trading session of 5th December 2019 ended in green and the benchmark index closed at 6683, reflecting a rise of 76.5 points or 1.1% on an intraday basis. S&P/ASX 200 Consumer Discretionary (Sector) ended the session at 2,678.6 with an increase of 1.52%. Also, on the same day, S&P/ASX 200 Information Technology (Sector) at end of session closed at 1,427.7, up 20.5 points. On the same day, All Ordinaries witnessed a rise of 1.1% or 76.7 points and ended at 6791.1.

However, during the session there were some companies which showcased a respectable increase at the close of trading day. The stock price of Resolute Mining Limited (ASX: RSG) closed at A$1.260 per share, reflecting a rise of 9.565%. In addition, another stock which ended in green was Perenti Global Limited (ASX: PRN) as it was closed at A$1.960 per share, up 5.376% on an intraday basis.

The readers should have a look at the information which has been covered by us previously. We have written on THC Global Group Limited (ASX: THC) and the readers can get the information by clicking here.

Resolute Mining Limited Reported Excellent Drilling Results

Resolute Mining Limited (ASX: RSG), on 5th December 2019, announced excellent drill results from recent exploration programs in Senegal and Côte d’Ivoire on projects acquired by the company as a result of the successful Toro Gold Limited transaction. It was added that the most significant results have been generated by the diamond drilling undertaken at Mako Gold Mine in Senegal that confirm potential of a coherent high-grade lode at north-eastern end of Mako open pit. The encouraging exploration results represents the potential for mine life extension at Mako and build on the exceptional operating performance of the mine since Resolute assumed ownership.

Perenti Global Limited rose 5.376% on Australian Stock Exchange

Perenti Global Limited (ASX: PRN) recently announced that $165 million in new and extended contracts have been secured by its Surface Mining Industry Sector Group. As per the key personnel of the company, the additional work has reflected the success of the company in converting pipeline opportunities as well as extending existing relationships with customers.

In addition, the surface mining business of the company in Australia, Ausdrill, has secured $79 million in contracts throughout three projects, which includes (1) A 3-year contract for drill and blast operations at the Middlemount Mine in Queensland, a joint venture project between Peabody Energy Australia and Yancoal Australia, (2) A 4-year contract for exploration drilling at various sites of a major coal operator in the Bowen Basin, Queensland and (3) A six-month contract with Downer for drill and blast operations at the Eliwana Project in the Pilbara, Western Australia.

RSG Daily Technical Chart (Source: Thomson Reuters)

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