On 26th November 2019, S&P/ASX200 closed the session in green, settling at 6787.5 after moving upward by 56.1 points or 0.8% on an intraday basis. In the same trading session, All Ordinaries also ended the day in green, reflecting a surge of 54.2 points or 0.8%, which took the index to 6889.8. Notably, S&P/ASX 200 Consumer Staples (Sector) ended the trading session at 13,145.0, up 1.02%. In addition, S&P/ASX 200 Financials (Sector) closed at 6,068.2, inching upward by 48.3 points. Now, we would look at some of the companies that witnessed a rise on Australian Securities Exchange (or ASX) on 26th November 2019.
Caltex Australia Limited (ASX: CTX) ended at a price of A$33.790 per share with a rise of 13.427% on an intraday basis. The intellectual property services company IPH Limited (ASX: IPH) closed the session at a price of A$8.760 per share, up 5.415% at the end of the trading session on 26th November 2019.
Previously, we covered important information on some companies and the readers are advised to have a glance at the articles. We have written on Great Southern Mining (ASX: GSN), which is a gold exploration company. To read, please click here.
Caltex Australia Limited Receives Takeover Proposal
Caltex Australia Limited (ASX: CTX), as per the release dated 26th November 2019, confirmed to have received an unsolicited, conditional, confidential, non-binding and indicative proposal from Alimentation Couche-Tard Inc. (ACT) to acquire all the shares in Caltex by a way of scheme of arrangement involving an indicative cash price amounting to A$34.50 cash per share less any dividends declared by Caltex. It was also mentioned in the release that the Board of Caltex is currently considering the proposal, which includes obtaining advice from its financial as well as legal advisers.
As per another company update, Convenience Retail EBIT is expected to be in the ambit of $190 ? 210 million, which represents a rise of $20 - 40 million over 1H FY 2019, driven by an improvement in fuel margin.
IPH Limited Experiences Surge of 5.415% on ASX
IPH Limited (ASX: IPH) reported a strong result in FY19. The Asian business continued its strong 2H performance from FY18 due, in part, to follow-on activities arising from the filings in that period, as well as from a significant client filing throughout several jurisdictions in the final quarter of the year.
IPH continued to report growth in earnings as well as revenue on a ‘like-for-like’ basis that adjusts for the impact of acquisitions and foreign exchange movements. During the year, the company made substantial progress in implementing its strategy, which would support future growth throughout its business. The company has continued to leverage its existing network to grow the Asian business. This contributed to the double-digit growth in the Asian business for 3rd consecutive half as more and more clients access its offerings across the region.CTX Daily Technical Chart (Source: Thomson Reuters)
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