Market Update: Performance of Australian Markets on November 27, 2019: A Brief Look

  • Nov 27, 2019 AEDT
  • Team Kalkine
Market Update: Performance of Australian Markets on November 27, 2019: A Brief Look

At the end of trading session on 27th November 2019, the benchmark index S&P/ASX200 closed at 6850.6, with a rise of 0.9% or 63.1 points on an intraday basis. Additionally, S&P/ASX 200 Communication Services (Sector) ended the session at 1,296.3, inching upward with 27.2 points. Also, on the same day, S&P/ASX 200 Utilities (Sector) closed the session with an increase of 1.84% and settled at 8,225.1. All Ordinaries closed the session at 6950.6, demonstrating a surge of 60.8 points.

Several companies also closed the session in green. Bravura Solutions Limited (ASX: BVS) closed the day’s trading at a price of A$4.980 per share, up 14.483% on an intraday basis. Moreover, Silver Lake Resources Limited (ASX: SLR) settled at a price of A$1.130 per share, reflecting a rise of 7.619% on an intraday basis.

Let’s have a quick look at important information on some companies, which have been covered by us in detail recently. Readers are advised to have a look at those articles. To view, please click here.

Bravura Solutions Limited Rose 14.483% on ASX

Bravura Solutions Limited (ASX: BVS) recently completed its 2019 Annual General Meeting, during which key personnel addressed the shareholders and highlighted that the company recorded revenue amounting to A$257.7 million for FY19, reflecting an increase of 16% year-on-year. The company registered a growth of 27% in EBITDA with the figure recorded at A$49.1 million against A$38.6 million in FY18. The investors need to note that the company reported NPAT amounting to A$32.8 million, up 21% from the year-ago period. Bravura raised A$165 million for acquisitions as well as organic growth opportunities.

The company remains well placed to deliver on its long-term growth strategy. The pipeline of sales opportunities in its current geographies like the UK, Australia and South Africa remains healthy. It also remains confident in the strong growth outlook of the business.

Silver Lake Resources Limited Announces Change in Substantial Holdings

Silver Lake Resources Limited (ASX: SLR) announced on 26th November 2019 that there has been a change in substantial holdings in Egan Street Resources Limited and the current voting power stands at 90.99% as compared to the previous voting power of 85.67%.

For FY20, the company expects sales in the range of 215,000 to 230,000 ounces gold equivalent with the AISC expected to average A$1,375-A$1,450 per ounce for the full year. The strong balance sheet and cash flow generation positions SLR to rapidly progress the pipeline of advanced exploration targets. Moreover, it enables the company to continue refreshing the pipeline of opportunities in order to compete for capital at Mount Monger, Deflector and externally, as SLR continues to build on the success and momentum generated in FY19.

BVS Daily Technical Chart (Source: Thomson Reuters)


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