The Australian equity markets are sensitive to the macro-economic conditions as well as to the performance of global markets. If global growth comes into question, the investors might decide to liquidate their existing holdings in equities. We will now have a look at the performance of S&P/ASX200 on December 23, 2019. The equity market in Australia was in red at the close of trading session on 23rd December 2019 and S&P/ASX200 witnessed a fall of 31.2 points and stood at 6785.1. Turning eyes on the performance of some sectors, S&P/ASX 200 Consumer Staples (Sector) stood at 12,614.3, reflecting a rise of 62.1 points and S&P/ASX 200 Information Technology (Sector) also ended in green and closed at 1,440.3 with a rise of 0.44% on an intraday basis. At the end of same trading day, All Ordinaries closed with decline of 29.7 points or 0.4% and stood at 6894.7.
Even with the fall in S&P/ASX200, the stocks of some companies managed to end the session in green. Bega Cheese Limited (ASX: BGA), at the end of session, reached at A$4.290 per share, reflecting a rise of 4.38% on an intraday basis. InvoCare Limited (ASX: IVC) experienced a rise of 3.498% and closed at A$13.610 per share.
Let us have a look at gainers and losers at NZX Main Board, SeaDragon Limited (SEA) rose by 100% and, finally, closed at a price of NZ$0.002 per share. Plexure Group Limited (PLX) ended the session at a closing price of NZ$0.780 per share, reflecting a rise of 8.33%. Notably, Burger Fuel Group Limited (BFG) ended at NZ$0.465, which indicates a decline of 6.06% on an intraday basis.
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Bega Cheese Limited Ended in Green: What You Should Know
Bega Cheese Limited (ASX: BGA) has come forward and made an announcement about the number of crucial developments in the business. The Executive Chairman named Barry Irvin was on a leave of absence to undergo chemotherapy. The release added that it is Barry’s intention to return and chair Board meeting which has been scheduled for January 29, 2020. Further it was added that, in conjunction with the long-term financiers Rabobank and Westpac, the company extended maturity date on facilities 4 and 5 to September 30, 2022. These facilities are having the combined total capacity amounting to $200 million. BGA also extended the existing covenant ratios to December 2020 that provides increased facility headroom.
It was also added that construction of the new lactoferrin facility at Koroit happens to be on schedule to be commissioned in the month of April 2020 and fully operational for FY 2021. BGA has been maintaining the forecast which was provided in the month of October with the review of direct as well as indirect costs ensuring that the company remains cost competitive when it comes to domestic and international markets.
BGA Daily Technical Chart (Source: Thomson Reuters)