Market Update: Understanding Performance of Australian Markets on November 20, 2019?

  • Nov 20, 2019 AEDT
  • Team Kalkine
Market Update: Understanding Performance of Australian Markets on November 20, 2019?

Stock markets in Australia are affected by economic uncertainties as well as by health of global economy. If the global growth comes into question, investors might decide to deploy investable capital towards safer asset classes, and they might sell their equity holdings.

On November 20, 2019, S&P/ASX200 ended the trading session in red, as there was a decline of 91.8 points and the index stood at 6722.4. On the same session of trading, All Ordinaries also closed the session in red, as there was a fall of 1.3% or 85.8 points, and the index stood at 6828.3. Now, let us have a quick look at some companies, which closed the session in green.

At the close of trading session, ALS Limited (ASX: ALQ) ended the session at a price of A$9.060 per share, indicating a rise of 12.129% on an intraday basis and became a star stock of the trading session on Australian Securities Exchange (or ASX). On November 20, 2019, TechnologyOne Limited (ASX: TNE) closed the session at a price of A$8.720 per share, with a rise of 11.083% on an intraday basis.

Recently, we have provided important information on some of the companies and the readers can have a look on the articles that have been written as it could prove beneficial for them. We have provided important information on Monash IVF Group Limited (ASX: MVF) and Virtus Health Ltd (ASX: VRT). Information covered can be read here.

Release of First Half Results of ALS Limited

ALS Limited (ASX: ALQ) recently released its results for the first half of financial year 2020 (1H FY20), wherein it reported underlying net profit after tax from continuing operations amounting to $98.2 million with a rise 5.3%, which surpassed the guidance range of $90 million to $95 million. The performance was largely fuelled by strong organic growth across all regions for the Life Sciences and Industrial divisions, coupled with some acquisition growth, including an initial contribution from ARJ, which is a Mexico-based pharmaceutical laboratory acquired in August 2019.

ALQ’s strategy is to utilise capital throughout a share buy-back program, dividends and bolt-on acquisition opportunities in order to deliver returns for shareholders while maintaining a strong balance sheet.

The Board of Directors of the company declared an interim dividend amounting to 11.5 cents per share, partially franked to 30%. This demonstrates a rise of 4.5% as compared to the previous year and a payout ratio of 56.5% of underlying NPAT.

TechnologyOne Limited Ended Session on November 20 in Green

TechnologyOne Limited (ASX: TNE), through a release dated 19th November 2019, updated the market participants with its results for the year ended 30 September 2019, wherein it witnessed net profit before tax amounting to $76.4 million, reflecting a rise of 208%. The SaaS annual recurring revenue stood at $102 million, up 44%. The company stated that its global SaaS ERP solution is transforming its customers’ business and making life simple for them.

ALQ Daily Technical Chart (Source: Thomson Reuters)


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