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The Australian equity market settled in red at the end of session on 9th March 2020. The S&P/ASX 200 experienced a drastic fall of 7.9% or 455.6 points and stood at 5760.6. Most of sectors closed in red such as S&P/ASX 200 Energy (Sector), which stood at 7,267.7, reflecting a decline of 25.01%. S&P/ASX 200 Health Care (Sector) tumbled by 2458.2 points and settled at 41,885.2. At the close of same trading session, All Ordinaries stood at 5822.4 with the drop of 8.0%.
Some companies on ASX performed well and closed in green despite the fall in overall equity market. Fisher & Paykel Healthcare Corporation Limited (ASX:FPH) increased by 2.983% and closed at $25.200 per share. Newcrest Mining Limited (ASX:NCM) inched up by 2.545% to $29.820.
Turning towards the NZX Main Board, S&P/NZX50 ended the session at 11,092 with a fall of 2.94%. Cavalier Corporation Limited (NZX: CAV) settled the session at NZ$0.245 with a rise of 6.52%. Smiths City Group Limited (NZX: SCY) closed at NZ$0.240, up by 4.35%. On the other hand, Burger Fuel Group Limited (NZX: BFG) fell by 20.00% and closed at NZ$0.360 per share.
We have recently written an article on Pacifico Minerals Limited (ASX:PMY) with some important information. Readers can view article by clicking here.
Fisher & Paykel Healthcare Corporation Limited Revised its Guidance
Fisher & Paykel Healthcare Corporation Limited (ASX:FPH) recently notified the market with the revised guidance for the full year ended 31st March 2020. The company currently expects operating revenue to be around $1.2 billion and net profit after tax is expected to be in the range of around $260 million to $270 million by assuming that NZ:US exchange rate of around 64 cents for the remaining financial year. Moreover, the company has experienced better-than-expected sales in its Homecare product group along with continued strong growth in its Hospital product group. The company is not expecting any significant impact on supply to its existing customers from COVID-19.
Newcrest Mining Limited Settled in Green on Australian Stock Exchange
Newcrest Mining Limited (ASX:NCM) and its associates have become an initial substantial holder in Antipa Minerals Limited on 3rd March 2020 with the voting power of 9.9%. In another update, the company announced that it has finalised the sale of 100% of Newcrest Singapore Holdings Pte Ltd to Indotan Halmahera Bangkit in lieu of consideration amounting to $90 million. Out of the total consideration, the company has received $60 million and the pending $30 million are payable in 18 months.
During 1H FY20, the company has acquired 70% of Red Chris mine. For the same period, NCM reported underlying profit amounting to $280 million with a rise of 18%. It reported gold production of 1.1 million ounces, which showcases a fall of 12%. The Board of Newcrest declared a 100% franked interim dividend amounting to US 7.5 cps. The company will be paying the said dividend on 27 March 2020.
