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Performance of the Australian Market on 22nd April 2020

  • April 22, 2020 08:55 PM AEST
  • Team Kalkine
Performance of the Australian Market on 22nd April 2020

At the close of trading session on 22nd April 2020, the equity market of Australia was in red. The S&P/ASX200 stood at 5221.2 with a fall of 0.1 points. S&P/ASX 200 Health Care (Sector) went up by 1.27% to 43,284.9. S&P/ASX 200 Utilities (Sector) closed at 7,598.9, reflecting a rise of 104.1 points. At the close of same session, All Ordinaries went down by 0.09% to 5273.8.

Gold MTF non-AMP

We will now have a look at the performance of some companies which settled in green at the end of session. WiseTech Global Limited (ASX: WTC) gained 16.763% and closed at $16.090. Pinnacle Investment Management Group Limited (ASX: PNI) increased by 12.15% to $3.600 per share.

S&P/NZX50 experienced a decline of 1.12% and stood at 10,418. Burger Fuel Group Limited (NZX: BFG) soared 15.09% to NZ$0.610. Good Spirits Hospitality Limited (NZX: GSH) inched up by 9.72% and closed the session at NZ$0.079. On the other hand, PaySauce Limited (NZX: PYS) plunged 11.86% and settled at NZ$0.520.

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WiseTech Global Limited Rose 16.763% on the Australian Stock Exchange.

WiseTech Global Limited (ASX: WTC) has recently updated the market with the business update for the three months ended 31st March 2020. During the quarter, the company performed in line with anticipated range for FY20, with a continued growth in revenue, cash generation from operations and further onboarding of additional users, which substantially offset the anticipated reductions from COVID-19. WTC possesses strong financial position with solid cash generation, and significant liquidity in order to support its strategic and operational initiatives. The net cash position of the company stood at $230 million. WTC is well-financed to implement its strategy under various circumstances and is not planning to raise additional capital or debt.

Pinnacle Investment Management Group Limited Ended in Green on 22nd April 2020

Pinnacle Investment Management Group Limited (ASX: PNI) recently notified the market that Ian Macoun has made a change to its holdings in the company by acquiring 402,758 ordinary shares for a consideration of $397,119.388. During 1H FY20, the company reported a net profit after tax from continuing operations of $13.8 million, reflecting a rise of 36.6%. Basic earnings per share from continuing operations for the period stood at 8.1 cents, up by 32.8% over the pcp. The company reported net inflows amounting to $2.0 billion, including $0.9 billion of retail inflows. The Board of PNI has paid a fully franked interim dividend of 6.9 cents per share on 20th March 2020, reflecting a payout ratio of 90% of diluted EPS. During the period, the company used its debt facility from Commonwealth Bank of Australia to finance its acquisition of 25% interest in Coolabah Capital Pty Limited.



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