Market Update: S&P/ASX200 Ended in Red on January 8, 2020

The equity market of Australia was in red and S&P/ASX200 closed with a fall of 0.1% on an intraday basis and stood at 6817.6. Let us now look at how some sectors have performed on January 8, 2020. S&P/ASX 200 Consumer Discretionary (Sector) fell by 17.2 points and reached at 2,743.0. On the same day, S&P/ASX 200 Consumer Staples (Sector) stood at 12,417.4, reflecting a decline of 0.1% on an intraday basis. At the end of session on January 8, 2020, All Ordinaries closed with a fall of 13.5 points and stood at 6930.1.

On ASX, Independence Group NL (ASX: IGO) closed at A$6.910 per share with a rise of 6.308%. Newcrest Mining Limited (ASX: NCM) experienced a rise of 4.031% and settled at A$32.000 per share.

We will now have a look at the performance at NZX Main Board. SeaDragon Limited (SEA) ended the session in green and rose by 50.00% and was closed at NZ$0.003 per share. On the other hand, Blackwell Global Holdings Limited (BGI) closed with a decline of 25.00% and reached at NZ$0.006 per share.

Previously, we have covered important information on MRG Metals Limited (ASX: MRQ). Please click here to read the content.

IGO Ended the Session in Green

Independence Group NL (ASX: IGO) came forward and reported preliminary metal production for Nova and Tropicana operations for the quarter ended December 2019 (or Q2 FY 2020) and for 1H FY 2020. As per the release by the company, consistently robust operational performance at Nova resulted in nickel, copper as well as cobalt production for Q2 FY 2020 and 1H FY 2020 which surpasses pro-rata guidance range for FY 2020. At Tropicana, gold production as well as gold sales surpassed pro-rata FY 2020 guidance after Q2 FY 2020 result.

The company also noted recent significant bushfire activity in the Shires of Dundas and Esperance. This has been affecting the local communities and is also disrupting supplies into Western Australia. The release also added that bushfire activity has caused unprecedented closures of main Eyre Highway and Coolgardie-Esperance Highway which were used to access Nova. There has been no threat to the company’s people or infrastructure at Nova due to bushfire activity, but there has been impact on the routine site-based deliveries of supplies as well as haulage of the concentrate from site. The company’s Q2 FY 2020 production result was not affected by this and, as per the current understanding, the company is not expecting any sort of material impact to its Q3 FY 2020 result.

RRL Rose 3.704% on ASX

Regis Resources Limited (ASX: RRL) recently came forward and made an announcement about an appointment of Mr Stuart Gula to the designation of Chief Operating Officer of the company. In the release, the company stated that Mr Gula is having over 30 years of operational and executive experience working throughout the range of commodities and jurisdictions, and he has delivered new mining businesses in Africa, China, USA as well as Indonesia. Moreover, he also possesses proven operational capabilities when it comes to underground and open pit mines.


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