You are here: Home » News-CM » International » Market Report
Business Standard

Australia Stocks gains 0.65%

Capital Market 

The Australian share market advanced for fifth straight session on Friday, 25 October 2019, with shares in healthcare sector leading rally after better-than-expected results from medical device maker ResMed Around late afternoon, the benchmark S&P/ASX200 index was up 43.46 points, or 0.65%, to 6,737.10, while the broader All Ordinaries rose 41.61 points, or 0.61%, to 6,838.30.

Shares of IT sector advanced the most in the benchmark index, helped by a solid jump in the price of ResMed (up 15%) after the medical device maker announced its first quarter earnings and has lifted operating profit by 19% to US$171.1 million (A$250 million) while revenue also saw double digit growth, up 16% to US$681 million.

Shares of major tech names were mostly higher, with buy now pay later provider Afterpay Touch (APT) was 1.8% higher, accounting software firm Xero (XRO) was also advancing 1.9%.

Resolute Mining (RSG) jumped 10% on news that the gold miner has repaired a key component at its Syama operations and will be fully operational in six weeks.

Waste management firm Cleanaway (CWY) shares dropped 13% on an update provided at its AGM.

CWY has downgraded earnings expectations and now anticipates 1H20 earnings to be in line with the prior year due to a combination of lower economic activity, softness in commodity prices and a reduction in local Queensland volumes following the introduction of the landfill levy.

CURRENCY NEWS: The Australian dollar declined against greenback on Friday. The Australian dollar, sensitive to shifts in broader risk appetite, changed hands at 8.15 US cents from 68.5 cents yesterday

Powered by Capital Market - Live News

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, October 25 2019. 09:51 IST