How New Markets Have Performed on May 11, 2020?

  • May 11, 2020 NZST
  • Team Kalkine
How New Markets Have Performed on May 11, 2020?

On May 11, 2020, S&P/NZX50 ended the session in green as the broader index witnessed a rise of 0.60% to 10,760 while S&P/NZX20 rose by 0.47% to 7,264. On the same day, S&P/NZX10 closed the day by rising 0.37% to 11,275.

On May 11, 2020, S&P/NZX All Consumer Discretionary closed the day by rising 4.97% and, on the other hand, S&P/NZX All Consumer Staples witnessed a fall of 1.34%.

Let us now have a look at how individual stocks have performed. Sky Network Television Limited (NZX: SKT) and Plexure Group Limited (NZX: PLX) ended the session in green as these stocks have increased by 20.31% and 17.65%, respectively on an intraday basis.

On May 11, 2020, New Talisman Gold Mines Limited (NZX: NTL) and Burger Fuel Group Limited (NZX: BFG) ended the session in red as these stocks fell by 12.50% and 5.45%, respectively.

Plexure Group Limited Ended the Session in Green

Plexure Group Limited (NZX: PLX) has notified the market that it intends to release the financial results for full year ended March 31, 2020 on May 19, 2020. In the release dated March 19, 2020, the company updated that there would be no impact on its financial performance for year to March 31, 2020 because of coronavirus pandemic. The company has also re-affirmed revenue guidance within the range of $24.5 Mn- $25.0 Mn for the year to March 31, 2020. The company added that it would record a profit for FY20 and close the year with the minimum of $14.0 Mn in bank. However, this remains subject to the customers following normal payment patterns.

The company’s Chair named Phil Norman stated that PLX is well placed to weather current financial conditions. As per the release, in the last 2 financial years, the company’s revenues grew at 40% plus and it would continue to pursue growth strategy so long as the market conditions permit.

SKT Rose By 20.31% on May 11, 2020

Earlier, Sky Network Television Limited (NZX: SKT) has released its financial results for 6 months to 31st December 2019 and the company delivered robust growth in streaming customer numbers of 74% with the overall growth in the customer base coming to 795,000 from 750,000 a year ago. The company has been delivering robust progress throughout all the strategic objectives.


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