Market Update: S&P/ASX200 Closed in Green: What Readers Need to Know?

  • Nov 22, 2019 AEDT
  • Team Kalkine
Market Update: S&P/ASX200 Closed in Green: What Readers Need to Know?

As the investors are aware, performance of stock markets in Australia is sensitive to the macro-economic environment as well as to the performance of Australian economy. At the end of session on 22nd November 2019, S&P/ASX200 ended in green. With a surge of 36.9 points or 0.5%, the index settled at 6709.8. On the same trading day, All Ordinaries also closed in green, reflecting a rise of 0.6% or 38.8 points, and as a result, the index was marked at 6816.5. We would now be having a look at the performance of individual companies, which closed the trading day in green on Australian Stock Exchange (or ASX).

Avita Medical Limited (ASX: AVH) closed at a price of A$0.560 per share, indicating a rise of 7.692% at the end of trading on ASX. On the same trading session, IPH Limited (ASX: IPH) closed the trading session at a price of A$8.200 per share, with an increase of 5.263% on an intraday basis.

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Avita Medical Limited Rose 7.692% on Australian Stock Exchange

Avita Medical Limited (ASX: AVH) recently announced that The Bank of New York Mellon Corporation and each group entity made a change to their substantial holdings in the company on 20th November 2019, owing to which the current voting power stands at 23.58% as compared to the previous voting power of 26.26%.

In another market release, the company updated regarding the institutional placement, targeted towards raising an amount of A$120.0 million for financing pipeline development of new indications, which include optimising support for clinical trials as well as development projects. Funds raised would also be used to support the company’s continued U.S. commercial growth strategy.

Chairman of IPH Limited Addresses Shareholders

IPH Limited (ASX: IPH) recently completed its 2019 Annual General Meeting, wherein Chairman of the company addressed the shareholders, highlighting that in FY19, IPH continued to deliver double-digit growth in revenue and earnings in Asian operations with improved margins in its Australian and New Zealand businesses.

IPH’s statutory net profit after tax amounted to $53.1 million, up 31% year-on-year. The Board of Directors of the company declared a final dividend amounting to 13 cps, which was 60% franked. This took the full year dividend amount to 25 cps, reflecting a rise of 11% as compared to the previous year.

The company also reported that the agreement to acquire Xenith IP Group has been one of the key highlights, and this acquisition was implemented on 15th August 2019. The acquisition was a major milestone towards the company’s vision of becoming the leading IP group in secondary IP markets as well as adjacent areas of IP.

SCT Daily Technical Chart (Source: Thomson Reuters)

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