Market Update: S&P/ASX200 Ended in Green: What Market Participants Need to Know

  • Dec 16, 2019 AEDT
  • Team Kalkine
Market Update: S&P/ASX200 Ended in Green: What Market Participants Need to Know

The equity markets of Australia was in green on close of trading session on 16th December 2019 and S&P/ASX200 reached the mark of 6849.7 with a rise of 110 points or 1.6% on an intraday basis. We would now have a look at some sectors which ended in green. S&P/ASX 200 Consumer Discretionary (Sector) closed at 2,744.4 with a rise of 55.4 points and S&P/ASX200 A-REIT (Sector) also indicated a rise of 31.5 points or 1.96% and stood at 1,604.4. On the close of same trading session, All Ordinaries stood at 6952.3, reflecting a rise of 107.7 points.

During the trading session of 16th December 2019, some individual companies performed well and it’s time to have a look at the companies which closed the session in green. Virgin Money UK Plc (ASX: VUK) ended the session at a closing price of A$4.100 per share reflecting a rise of 8.753% on an intraday basis. Another stock which rose was Nearmap Ltd (ASX: NEA) which closed at A$2.860 per share, and was up by 8.745% on an intraday basis.

Coming to the gainers and losers at NZX Main Board, Blis Technologies Limited (NZX: BLT) stood at NZ$0.051 with a rise of 6.25% and Arvida Group Limited (ASX: ARV) ended at NZ$1.700 per share reflecting an increase of 3.66% on an intraday basis. Moving to the stocks which fell down, Enprise Group Limited closed by falling 11.11% on an intraday basis and stood at NZ$0.800 per share.

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Virgin Money UK Plc rose 8.753% on Australian Stock Exchange

Virgin Money UK Plc (ASX: VUK) has recently updated the market with its results for the financial year 2019 and stated that the front book lending pricing remains resilient, even though there were competitive pressures. VUK reported NIM of 1.66% during the period. Also, it reported underlying profit before tax amounting to £539 million in FY 2019.

VUK is investing in its business and is well-positioned to continue its momentum after three years of consecutive growth, ensuring responsible lending as well as managing risk through the cycle. The company would continue its digital transformation and it is anticipating growth in personal lending, which is to be supported by offering Virgin Money credit cards and personal loans to its enlarged customer base.

Acquisition of New Technology by Nearmap Ltd

Nearmap Ltd (ASX: NEA), on 12th December 2019, through a release announced that it has acquired technology and intellectual property from Primitive LLC (Pushpin). In addition, this technology helps the company to quickly extract as well as disseminate roof geometry from its widescale 3D content. NEA is capable to provide a semi-automated calculation and extracted representation of any roof geometry within an hour with the help of the acquired technology.

VOC Daily Technical Chart (Source: Thomson Reuters)

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