The performance of Australian equities is sensitive to the broader macro-economic environment and to the health of global economy. In the event of economic slowdown, the investors tend to make deployments towards safer asset classes, and they try to avoid equities because of the risk it carries.
At the close of trading session on 12th December 2019, the equity markets in Australia settled in the red zone with S&P/ASX200 closing at 6708.8 with a decline of 43.8 points or 0.7% on an intraday basis. However, S&P/ASX 300 Metals and Mining (Industry) ended the session at 4,426.1 with a rise of 0.16% and S&P/ASX 200 Materials (Sector) closed the session in green with a rise of 16.9 points, settling at 13,662.8. On 12th December 2019, All Ordinaries fell by 42.4 points or 0.6% on an intraday basis.
Talking about the NZX main board, let us now have a look the stocks which gained and which encountered a fall. Cavalier Corporation Limited (CAV) ended at NZ$0.340 per share while TruScreen Limited (TRU) closed at NZ$0.096. On the other hand, New Talisman Gold Mines Limited (NTL) witnessed a fall of 12.50% to NZ$0.007 and JPMorgan Global Growth & Income plc fell 4.76% to NZ$6.800 on an intraday basis.
Besides the fall in S&P/ASX200, there were some companies that also closed the session in green. Lynas Corporation Limited (ASX: LYC) ended the session at a price of A$2.370 per share, which implies an increase of 9.722% on an intraday basis. Charter Hall Group (ASX: CHC) inched upward by 4.667% on an intraday basis and ended the trading session at A$10.990 per share.
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PolyNovo Limited Up 4.518% on Australian Stock Exchange on December 12, 2019
PolyNovo Limited’s (ASX: PNV) key personnel recently addressed the shareholders, highlighting that, by the end of FY19, BTM sales stood at $9.3 million, compared with $1.7 million in FY18. The company is expecting FY20 to be a transformational year for PNV, with significant uplift anticipated in sales. The key personnel also reported that growth in US business is strong and presence of the company is changing clinical practice for many indications.
A Recent Update on Charter Hall Group
Charter Hall Group (ASX: CHC), on 12th December 2019, announced that the company secured $1.25 billion of acquisitions across the Platform. These include an investment in a new managed partnership of $840 million that has contracted to acquire a 49% interest in a $1.7 billion portfolio, which comprises 225 Convenience Retail properties leased to BP Australia Pty Limited (BP) with a 20-year WALE triple net lease.
For the half year ending 31st December 2019, Charter Hall Funds Management Limited declared a distribution amounting to 17.5 cents per security as responsible entity for Charter Hall Property Trust and Charter Hall Limited. It reflects an increase of 6% on 1H FY 2019 distribution per security, which amounted to 16.5cps.LYC Daily Technical Chart (Source: Thomson Reuters)