As investors know, performance of broader Australian markets is generally influenced by the health of global economy. At the close of market session on 4th November 2019, S&P/ASX200 settled in the green zone, witnessing an increase of 0.3% or 17.8 points and closing at 6686.9 points. On the same day, All Ordinaries also ended the trading session in green, and index reached at 6799.8 points, experiencing a rise of 20.7 points. We would now have a look on the stocks that ended in the green zone on Australian Securities Exchange.
On 4th November 2019, NRW Holdings Limited (ASX: NWH) ended the session at A$2.550 per share with a surge of 13.333%. In the same trading session, Pilbara Minerals Limited (ASX: PLS) ended the session in green, closing at A$0.380 per share with a rise of 10.145%. Now we would have a look at the stocks which ended in red. On November 4, 2019, Costa Group Holdings Limited (ASX: CGC) and National Australia Bank (ASX: NAB) closed the session by falling 2.593% and 2.534%, respectively.
Previously, we discussed some stocks and we advise the readers to have a quick glance at them, as it could be helpful for them. Recently, we have provided some notable information on SGM. To read, please click here.
Response to Media Speculation
NRW Holdings Limited (ASX: NWH), on 4th November 2019, through a release responded to a media speculation in relation to the companyâs potential interest in acquiring BGC Contracting. The company added that, in response to the reports, and consistent with statements made in its full year reports, it continues to pursue opportunities to further diversify its revenues and enhance shareholder returns. This included discussions with various parties in relation to potential acquisitions, which include BGC Contracting.
NRW also confirmed that it has been selected as a preferred bidder with respect to the sale of BGC Contracting, subject to the final documentation as well as number of conditions considered customary in this sort of transaction.
Pilbara Minerals Limited Rose 10.145% on Australian Securities Exchange
Pilbara Minerals Limited (ASX: PLS) recently updated the market with results for quarter ended September 2019, wherein, it unveiled completion of technical studies to support an optimised and incremental expansion of Stage 2 production capacity over time. It was mentioned that despite the strong interest from several credible parties, the Board has elected not to pursue the sale of a minority interest in the Pilgangoora Project in a softening market. The company stated that it is conducting further technical studies for the Revised Stage 2 development in anticipation of completing a revised study by January 2020, placing it to make a final investment decision thereafter having regard to customer demand as well as funding requirements.
The company stated that on operational front, production in the quarter was moderated in response to soft market conditions as well as its offtake partnersâ slower-than-expected ramp-up of their facilities in China.
NWH Daily Technical Chart (Source: Thomson Reuters)
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