At lunchtime the S & P / ASX 200 index returned from a previous decline and rose by 0.1% to 6,292.9 points. Here's what happened on the market today: the Xero result hits. The price of Xero Limited shares (ASX: XRO) has taken over and rises to over 9% at lunch after the release of the full year results. In fiscal year 2019, Xero recorded a 36% increase in operating revenues to $ 552.8 million and a 32% increase in the amount of annualized monthly recurring revenue (AMRR) to $ 638.2 million . This was driven by a 31% jump in total subscribers to 1,818 million and a modest …
At lunchtime the S & P / ASX 200 index returned from a previous decline and rose by 0.1% to 6,292.9 points.
Here's what happened on the market today:
The Xero result impresses.
The Xero Limited (ASX: XRO) The share price has taken over and rises to over 9% for lunch after the release of the full year results. In fiscal year 2019, Xero recorded a 36% increase in operating revenues to $ 552.8 million and a 32% increase in the amount of annualized monthly recurring revenue (AMRR) to $ 638.2 million . This was driven by a 31% increase in total subscribers to 1,818 million and a modest increase in average revenue per user.
Telstra reaches a maximum of 52 weeks.
The Telstra Corporation Ltd (ASX: TLS) The stock price continued its solid run Thursday and reached a maximum of 52 weeks of $ 3.50 this morning. Investors have struggled to get the shares of the giant Telco since the ACCC blocked the merger between TPG Telecom Ltd (ASX: TPM) and Vodafone Australia. This should allow Telstra to consolidate its leadership position in 5G.
Westpac shares are lowered.
The Westpac Banking Corp. (ASX: WBC) The share price fell 4.5% to $ 25.70. Most of this decline is attributable to the actions of the banking giant which negotiated the coupon detachment this morning for its provisional, fully distributed dividend of 94 cents per share. The dividend will now be paid to eligible shareholders in about six weeks on June 24th.
CSL rated as a purchase.
The CSL Limited (ASX: CSL) The share price declined on Thursday, despite being the subject of a positive broker note from UBS. According to the note, the broker maintained its purchase rating and raised its price target on its shares to $ 223.00. UBS is positive for the growth of immunoglobulins and its Seqirus business.
The best and worst performers.
The best result of Thursday's benchmark is the Xero stock price with a 9% gain. After that, the next best performer is the Ooh! Media Ltd (ASX: OML) The share price has increased by 5% since the release of its AGM presentation. The worst performer of the ASX 200 today is the McMillan Shakespeare Limited (ASX: MMS) The share price has fallen by 5% despite there being no news from the wage packaging company.
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James Mickleboro owns shares in Westpac Banking. Motley Fool The Australian parent company Motley Fool Holdings Inc. holds shares in CSL Ltd. Motley Fool Australia owns shares in and recommended Telstra Limited. Motley Fool Australia owns shares of Xero. The Motley Fool Australia has recommended oOh! Media Ltd. We Fools may not all have the same opinions, but we are all convinced that, considering a wide range of information, we can make us better investors. The Motley Fool has a disclosure policy. This article contains only general investment recommendations (with AFSL 400691). Authorized by Scott Phillips.
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