Market Update: Understanding Performance of Australian Market on 23 January 2020

  • Jan 23, 2020 AEDT
  • Team Kalkine
Market Update: Understanding Performance of Australian Market on 23 January 2020

The equity market of Australia closed in red at the end of trading session on 23rd January 2020. The S&P/ASX200 settled at 7088 with a fall of 44.7 points or 0.6%. All Ordinaries also ended the day’s trading in red, witnessing a fall of 50 points. Looking at the performance of few sectors, including S&P/ASX 200 Health Care (Sector), which plunged by 210.8 points and stood at 44,877.8 and S&P/ASX 200 Industrials (Sector), which witnessed a fall of 133.9 and settled at 7,144.5.

Despite the fall in overall market, some companies performed well and filled the pockets of market participants. National Storage REIT (ASX: NSR) inched upward by 6.311% and ended the session at A$2.190 per share. Webjet Limited (ASX: WEB) mounted up by 5.04% and closed the trading session at A$14.380.

Moving the needle at the gainers and losers at NZX Main Board; New Talisman Gold Mines Limited (NZX: NTL) settled at NZ$0.008 with a rise of 33.33%. Cannasouth Limited (NZX: CBD) ended the trading session at NZ$0.520, up by 5.05%. Among the losers were SeaDragon Limited (NZX: SEA), which experienced a fall of 33.33% and stood at NZ$0.002 and PaySauce Limited (NZX: PYS), which witnessed the closing at NZ$0.680 with a decline of 9.33% on intraday basis.

We have written important information on Great Western Exploration Limited (ASX: GTE) and readers can have a look at the article with a click here.

National Storage REIT Responses to Media Speculation

National Storage REIT (ASX: NSR) on 23rd January 2020 via a release responded towards a media speculation in relation to potential takeover proposal for NSR. The company stated that Gaw Capital Partners has given a confidential non-binding indicative proposal for 100% of the issued stapled securities of the company. Currently, discussions are in the preliminary stage and are subject to numerous conditions.

As per another company update, UBS Group AG and its related bodies corporate became a substantial holder in National Storage REIT on 2nd January 2020 with a voting right of 5.92%.

NSR is placed well for executing its strategy and delivering stable and growing returns for investors. Also, in FY19, the company wrapped up two institutional placements and offered a security purchase for raising an amount of $358 million. This fundraising allowed the company to reduce gearing and maintain funding flexibility.

Webjet Limited Settles in Green on Australian Stock Exchange

Webjet Limited (ASX: WEB) recently announced that Mitsubishi UFJ Financial Group, Inc made a change to their substantial holdings in the company on 17th January 2020, translating into the current voting power of 10.28% as compared to the previous voting power of 9.05%.

Meanwhile, via another market update, the company announced an extension to the term of its Managing Director, Mr John Guscic from 30 June 2021 to 30 June 2023.

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