How Markets in New Zealand Performed?

  • Jun 22, 2020 NZST
  • Team Kalkine
How Markets in New Zealand Performed?

 

On June 22, 2020, S&P/NZX50 ended the session in red as the index witnessed a fall of 0.86% to 11,158 while S&P/NZX20 fell by 1.18% to 7,433. On the same day, S&P/NZX10 encountered a decline of 1.15% to 11,541.

S&P/NZX All Information Technology sector witnessed a rise of 2.42% while S&P/NZX All Consumer Staples fell by 3.96% on June 22, 2020. We will now have a quick look at the performance of some individual stocks.

The share price of Me Today Limited (NZX: MEE) witnessed a rise of 11.11% on an intraday basis to NZ$0.140 per share. Also, the stock of Smartpay Holdings Limited (NZX: SPY) rose by 6.67% to NZ$0.640 per share.

On the other hand, the share price of New Talisman Gold Mines Limited (NZX: NTL) witnessed a fall of 12.50% to NZ$0.007 per share.

The following image provides a broad idea as to how the stock price of SPY has trended in the span of past 90 days:

Stock Performance (Source: NZX)

MPG Released Results for FY 2020

Metro Performance Glass Limited (NZX: MPG) recently reported its financial results for the year ended March 31, 2020 (or FY 2020). Following are the key points:

  • Results were in line with the EBIT guidance as well as net debt reduction target provided in the month of November 2019;
  • FY 2020 results were robust amidst challenging market conditions;
  • In NZ, the company maintained consistent revenue in the key residential segment but there was a fall in commercial glazing revenue as it reduced its risk exposure towards large scale projects.

Notably, MPG managed to strengthen its balance sheet. MPG’s net debt has fallen by $16.5 Mn from robust operating cashflows.

A Recent Update By Abano Healthcare Group Limited: What You Need to Know

On June 22, 2020, Abano Healthcare Group Limited (NZX: ABA) came forward and notified the market players that post receipt of updated proposals from the parties which showed interests, the company has no intentions to progress the sale of ABA via scheme of arrangement option or the “take private” transaction.

As per the release, the company’s Board has been assessing alternative options received to address needs of capital structure as well as support future growth of Abano Healthcare Group Limited.

 


Disclaimer
The website has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. The above article is NOT a solicitation or recommendation to buy, sell or hold the stock of the company (or companies) under discussion. Kalkine does not in any way endorse or recommend individuals, products or services that may be discussed on this site.

 

   
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