Performance of Australian markets is sensitive to the health of the broader Australian economy. A rise in economic uncertainties has the potential to disrupt the momentum of Australian equities and can affect the performance of large global companies. A slowdown in the global economy can affect the top and bottom line numbers of companies and can also weigh over their core business activities.
Coming to the performance on October 23, 2019, S&P/ASX200 ended the session in green, as the index witnessed a rise of 0.9 points to end the session at 6673.1. On the other hand, All Ordinaries ended in red, as there was a fall of 0.4 points and the session closed at 6778.2. We would now have a look at the stocks, which ended in red on Australian Securities Exchange (or ASX).
On October 23, 2019, Galaxy Resources Limited (ASX: GXY) closed the day’s session by falling 7.104% and the stock price stood at A$0.850 per share. On the same day, Pro Medicus Limited (ASX: PME) closed by falling 6.065% on an intraday basis and the stock price was A$28.190 per share.
We have written about some of the stocks and we advise that the readers should have a quick glance as it could be beneficial. Recently, we provided some useful information on WHC as well as NHC. We advise the readers to have a quick look at the information provided. To view, please click here.
A Recent Update on Gold Road Resources Limited
Gold Road Resources Limited (ASX: GOR) released a market update on its performance for the quarter ended September 2019. As per the release, GOR holds cash of A$65.3 million as well as bullion valued at A$5.8 million. The company stated that net debt position at the end of quarter was better than what was expected, as a result of lower Gruyere expenditures as well as higher revenue.
We would now have a look at how the stock of GOR performed on October 23, 2019. On ASX, the stock of GOR witnessed a rise of 13.659% to end the session at A$1.165 per share.
WTC Responds To Misinformation
WiseTech Global Limited (ASX: WTC) made an announcement, in which it was mentioned that the company requested a trading halt in order to ensure that trading did not take place in an uninformed market after release of a second short-seller report. This report was released by J Capital Research Limited during first hour of trading on October 21, 2019. As per the release issued by WTC on October 23, 2019, the report contained several claims that were wrong. WiseTech has rejected claims of financial impropriety as well as irregularity.Let us now quickly have a look at how WTC performed on October 23, 2019. On ASX, the stock of WTC closed by increasing 8.479% to A$28.530 per share.
GOR Daily Technical Chart (Source: Thomson Reuters)
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