A good update by one of our portfolio companies, Candy Club (ASX:CLB), exceeding their initial forecasts of 7,000 doors by April 2020.
Some large sign ups (see below), boding well for 1Q2020!
This Afternoon, the S&P/ASX 200 is back over 7000 points with a gain of 37 points to 7031.5 today. The information technology sector out-performed with a gain of 1.7 per cent, while healthcare was up 1.1 per cent and industrials were up 1 per cent. The biggest decline today was a massive 26 per cent fall in Treasury Wines to the lowest price in 18 months of $12.35 after a profit warning upset analysts.
Financials also outperformed and added the most points thanks to its weight in the index. Virgin Money gained 9.4 per cent to a three-week high of $3.50, and Credit Corp gained 4.6 per cent to $34.33. However it was the big banks that swung the index with ANZ Bank up 1.3 per cent, and the other three up about 0.7 per cent.
Macquarie Group gained 1.1 per cent to $144.60 and Magellan Financial Group gained 2.8 per cent to $65.51. Magellan’s subsidiary MFF Capital Investments announced a fully franked 20¢ special dividend today, giving fund manager and major shareholder Chris Mackay a $12.8 million pay day.
Gold miners also dropped today with Newcrest Mining down 2.1 per cent, Northern Star down 3.9 per cent, and Evolution Mining down 2 per cent. Oil producers also softened as Beach Energy dropped a further 1.9 per cent on top of Tuesday’s losses, now at $2.55 compared to $2.70 on Friday.