At lunch the S&P/ASX 200 index is on course to make it two consecutive days of gains. At the time of writing the benchmark index is up 0.7% to 6,511.5 points.
Here's what has been happening on the market today:
Altium shares charge higher.
The Altium Ltd (ASX: ALU) share price has charged almost 4% higher after the market responded positively to the design software company's full year results release. In FY 2019 Altium posted a 22.6% lift in full year revenue to US$171.8 million and a 41.1% increase in net profit after tax to US$52.9 million. It also reiterated its aim of growing its revenue to US$500 million by FY 2025.
SEEK shares push higher.
The SEEK Limited (ASX: SEK) share price is up 3% at lunch following the release of the job listings company's full year results. In FY 2019 SEEK delivered an 18% lift in revenue to $1,537.3 million and a 6% increase in EBITDA to $455 million. More of the same is expected in FY 2020, with management providing revenue growth guidance in the range of 15% to 18% and EBITDA growth guidance in the range of 8% to 11%.
Gold miners sink lower.
Regis Resources Limited (ASX: RRL), Resolute Mining Limited (ASX: RSG) and the rest of the gold miners have sunk lower today after a pullback in the gold price overnight. The spot gold price fell more than 1% after risk appetite improved and demand for safe haven assets declined. At lunch the S&P/ASX All Ords Gold index is down 2.7%.
BHP result.
Mining giant BHP Group Ltd (ASX: BHP) is trading 0.5% lower at lunch after the release of its full year results this morning. BHP posted a 3% increase in revenue from continuing operations to US$44.3 billion and a 30% jump in profit after tax to US$8.65 billion. A final dividend of 78 U.S. cents per share was declared.
Best and worst performers.
The best performer on the ASX 200 at lunch is the BlueScope Steel Limited (ASX: BSL) share price with a gain of 7%. The steel producer's shares fell heavily on Monday after the release of disappointing guidance for FY 2020. Going the other way is the Saracen Mineral Holdings Limited (ASX: SAR) share price with a 6% decline following weakness in the gold price.
