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As the market players are aware, performance of Australian markets is sensitive to the performance of global markets as well as to the health of global economy. Moreover, performance of Australian economy can affect Australian equities. In the event of slowdown, the investors might decide to choose safer asset classes. We would now have a look at the performance of S&P/ASX200.
At the close of trading session on December 3, 2019, the benchmark index S&P/ASX200 stood at 6712.3 with a decline of 2.2% or 150 points. On the same day, S&P/ASX 200 Consumer Staples (Sector) ended the session with a fall of 3.37% on an intraday basis and stood at 12,882.2. Also, S&P/ASX 200 Information Technology (Sector) ended at 1,436.9, reflecting a decline of 40.1 points. On the same day, All Ordinaries also ended the session in red, declining 146.9 points and settling at 6818.4.
Despite the challenging trading session, some companies closed the session in green. On December 3, 2019, the stock price of Evolution Mining Limited (ASX: EVN) stood at A$4.070 per share, reflecting a rise of 1.496% and Silver Lake Resources Limited (ASX: SLR) closed at a price of A$1.180 per share, implying an increase of 1.288% on an intraday basis on Australian Securities Exchange.
We advise the readers to read articles covered. Not so long ago, we had written about HUB, TNE and WTC. To read the information, please click here.
A Recent Update Related to Evolution Mining Limited
Evolution Mining Limited (ASX:EVN) recently announced that La Mancha Group International B.V. and its associates made a change to their substantial holdings in the company on November 27, 2019. The current voting power of the substantial holder stands at 7.65% as compared to the previous voting power of 9.56%. As per the recent release, Enterprise Metals Limited has been advised by the joint venture partner Evolution Mining Ltd regrading the completion of orientation aircore drilling program along the Big Bell and Cuddingwarra Shear Zones within +800km2 Murchison JV Project area.
In FY19, EVN reported statutory net profit amounting to A$218 million. The company registered operating mine cash flow amounting to A$772 million and net mine cash flow amounting to A$498 million, with group free cash flow of A$292 million.
Silver Lake Resources Limited Rose 1.288% on Australian Securities Exchange.
Silver Lake Resources Limited (ASX:SLR) recently issued 4,108,480 fully paid ordinary shares on December 2, 2019. In the release dated November 27, 2019, it was mentioned that Silver Lake Resources Limited has the relevant interest in 90.99% of Egan Street Resources Limited shares. For FY20, the company expects sales in the range of 215,000 to 230,000 ounces gold equivalent with the AISC anticipated to average A$1,375-A$1,450 per ounce for the full year. The strong balance sheet and cash flow generation enables SLR to rapidly progress the pipeline of advanced exploration targets.
SLR Daily Technical Chart (Source: Thomson Reuters)
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