Australian Stocks Soar 2%, Aussie Dollar on a Weaker Ground

Marcus Jacob
19 Dec, 2014
New York City

Australian market indexes soared 2.5% and the Aussie traded near its recent years low. For the week, the ASX index gained 2%. CBG Capital and Catapult Group completed public offerings. Santos canceled its euro denominated offering and arranged $1 billion bank loan.

[R]5:30 PM Sydney – Australian market indexes soared 2.5% and the Aussie traded near its recent years low. For the week, the ASX index gained 2%. CBG Capital and Catapult Group completed public offerings.[/R]

Australian market indexes soared following world market surge.

Australian dollar traded lower after currencies of resource rich nations were under pressure and the Aussie closed at a new four-and-a-half year low.

Australian dollar closed at 81.89 U.S. cents and in stock-trading turnover soared to 1.4 billion shares worth $9.7 billion.

ASX 200 Index jumped 127.80 or 2.5% to 5,338.60 and broader All Ordinaries Index climbed 123 or 2.3% to 5,312.70.

For the week, ASX 200 soared 2%.

In commodities trading, gold edged down $1 at US$1,198 an ounce and light crude oil declined $2.43 to US$54.36 a barrel.

IPO

CBG Capital Ltd, the investment company closed unchanged at 97.5 cents after the investment company priced its initial public offering at $1.

Catapult Group International Ltd closed unchanged at 55 cents after the sportswear technology developer priced its initial public offering at 55 cents.

Australian Stock Movers

Cash Converters International Limited soared 12% to $1.07 after the second-hand goods retailer completed the acquisition of Victoria-based six franchised stores worth $10.8 million.

Nearmap Ltd surged 9.5% to 63.5 cents after the online educational photomapping service provider forecasted revenues in the first-half to jump between 43% and 47% or in the range of $11.3 million to $11.6 million.

The company estimated revenues in the December 2015 to be between $30 million to $50 million.

Singapore Telecommunications Ltd slipped 1.1% to $3.55 after the Singapore-based communication service provider singed an agreement to acquire Australia-based Ensyst Pty Ltd. for about $13 million.

Santos Ltd gained 0.4% to $7.99 after the oil and gas producer secured a three-year $1 billion or US$816.6 million bank loan from ANZ Banking Group.

Earlier Santos scrapped its plan to raise €1 billion or $1.23 billion through a euro-hybrid security offering.