Market Update: S&P/ASX200 Ended in Green; BIN Soared by 13.488%

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Market Update: S&P/ASX200 Ended in Green; BIN Soared by 13.488%

 Market Update: S&P/ASX200 Ended in Green; BIN Soared by 13.488%

At the close of trading session on 25th August 2020, the Equity market of Australia closed in green. The benchmark index S&P/ASX200 rose by 31.8 points to 6161.4. S&P/ASX 200 Financials (Sector) experienced a rise of 118.3 points to 4,871.4 and S&P/ASX 200 Information Technology (Sector) settled the day at 1,932.7 with a rise of 3.59%. At the end of same session, All Ordinaries went up by 31.7 points to 6332.

On ASX, the share price of BINGO Industries Limited (ASX: BIN) stood at $2.440 per share. The stock of Afterpay Limited (ASX: APT) moved up by 11.785% to $92.480 per share.

BIN Performance (Source: ASX)

S&P/NZX50 settled the session at 11,993, reflecting a rise of 0.60% on an intraday basis. The share price of NZME Limited (NZX: NZM) mounted up by 44.83% to NZ$0.420 per share. The stock of Mercer Group Limited (NZX: MGL) rose by 20.75% to NZ$0.320 per share. On the other hand, the stock of Goodman Property Trust (NZX: GMT) went down by 3.59% to NZ$2.280 per share.

Recently, we have penned an article on VRX Silica Limited (ASX: VRX), and the readers can view the content by clicking here.

BINGO Industries Limited Recorded Decent Growth in Earnings

BINGO Industries Limited (ASX: BIN) recently released its FY20 results, wherein it reported a growth of 21% in underlying revenue to $486.7 million. Underlying EBITDA for the year amounted to $152.1 million, reflecting a rise of 41%. The company experienced robust growth of 196% in statutory NPAT to $66 million. During FY20, the company maintained a healthy balance sheet with strong capital management and cash conversion of 106.9%. BIN reported a fall of 23.1% in total leverage to 2.0x. The Board of the company has resolved to pay a final dividend of 1.5 cents on 8th October 2020. This took the total dividends for FY20 to 3.70 cents. For FY21, the company expects a fall of around 200 bps to 300 bps in EBITDA margin.

Afterpay Limited Ended in Green on Australian Securities Exchange.

Afterpay Limited (ASX: APT) recently notified the market that its wholly-owned subsidiary, Clearpay (Europe) Limited has inked a Share Purchase Agreement with NBQ Corporate SLU for the acquisition of 100% outstanding shares in Pagantis SAU and PMT Technology SLU. The acquisition is likely to accelerate and de-risks the launch of Clearpay branded platform in the EU market. APT is accelerating its expansion into new markets to capitalise on strong consumer and merchant demand as well as to grow its global footprint. The company has recognised the European Union (EU) as the next logical step for international expansion because of its large millennial population, vast fashion and beauty retail markets, and significant debit card usage.

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