AUS
NZ
UK
CA
USA
FRA
GER
ESP
ITA
NLD
PRT
SWE
GRC
IND
POL
BRA
ZAF
RUS
CHN
UAE
The performance of broader Australian markets is sensitive to the performance of global markets. If the global growth comes into question, the impact can also be felt in Australian equities. Now, let us look at the performance of Australian markets. On March 19, 2020, S&P/ASX200 ended in red as there was a fall of 170.3 points or 3.44% on an intraday basis. On the same day, All Ordinaries fell by 189.4 points or 3.79% and stood at 4809.4. However, there were some companies which ended the session in green.
On March 18, 2020, Netwealth Group Limited (ASX:NWL) ended the session in green as the stock witnessed a rise of 16.118% on an intraday basis to end at A$6.700 per share. On the same day, Whitehaven Coal Limited (ASX:WHC) closed at A$1.585 per share which implies an increase of 9.31% on an intraday basis.
At NZX Main Board, TruScreen Limited (NZX: TRU) ended the session in green as the stock price increased by 12.68% and ended at NZ$0.080 per share. Cannasouth Limited (NZX: CBD) closed the session by rising 7.89% and stood at NZ$0.410 per share.
NWL Releases Market Update
On March 19, 2020, Netwealth Group Limited has released a market update in which the company stated that, despite recent adverse equity markets resulting from COVID-19 pandemic, NWL happens to be in a robust financial position and is debt free. The company is also possessing significant cash at bank and is highly profitable. The inflows have continued to be strong and FUA net inflows for the quarter to date amounted to $2.9 billion which resulted in total FUA net inflows year to date coming at $7.3 billion.
Whitehaven Coal Limited Ended in Green on ASX
Whitehaven Coal Limited has earlier released its results for 1H FY 2020 and its revenue amounted to $885.1 million, reflecting a fall of 30% on the pcp basis, which reflects lower average achieved price of A$108/t as compared to A$155/t in 1H FY 2019. However, the company’s key personnel has stated that first half results were impacted by the softening of Newcastle Index thermal coal price. It was also mentioned that the payment of a modest dividend implies the confidence in fundamentals of the business as well as prospects of the stronger 2H.
As per the release, the successful refinancing happens to be a strong endorsement of the company’s medium to long term growth profile as well as cash flow generation potential of the quality assets. Notably, the Board of the company has proposed to pay an unfranked dividend amounting to 1.5 cents per share (or cps) to shareholders. The company’s net debt rose to $587.2 million as at 31st December 2019, which reflects dividend payment amounting to $297.0 million as well as reinvestment of the cash generated from operations.
