How New Zealand Markets Performed on April 29, 2020?

The performance of New Zealand stock markets is sensitive to the performance of global markets. If global growth comes into question, the New Zealand markets might witness some negative impacts. There have been announcements about the stimulus packages globally which could help in the overall recovery of the economy. Let us now have a look at the performance of New Zealand markets.

On April 29, 2020, New Zealand’s benchmark index S&P/NZX50 ended at 10,666, a decline of 0.87% on the previous day. At NZX Main Board, the daily volume and value traded stood at 53.57 million and $186.65 million, respectively.

Talking on thematic indices, S&P/NZX MidCap Index and S&P/NZX SmallCap Index ended the day at 26,883.920 (a fall by 0.06%) and 51,267.190 (an increase by 0.57%).

On April 29, 2020, S&P/NZX All Energy rose by 0.98%, S&P/NZX All Materials by 1.77%, S&P/NZX All Consumer Discretionary by 4.43%, S&P/NZX All Information Technology increased by 0.16% and S&P/NZX All Communication Services rose by 0.55%. However, S&P/NZX All Health Care fell by 2.85% and S&P/NZX All Consumer Staples declined by 1.37% on April 29, 2020.

Top gainers on April 29, 2020, were New Talisman Gold Mines Limited (NZX: NTL) (14.29%), SkyCity Entertainment Group Limited (NZX: SKC) (9.69%), SeaDragon Limited (NZX: SEA) (7.50%) and QEX Logistics Limited (NZX: QEX) (6.25%).

Top losers for April 29, 2020 were Fisher & Paykel Healthcare Corporation Limited (NZX: FPH) (-4.33%), Oceania Healthcare Limited (NZX: OCA) (-3.80%), Mercer Group Limited (NZX: MGL) (-3.57%) and Burger Fuel Group (NZX: BFG) (-3.51%).

Westpac Makes an Announcement of Impairment Charge of $2.2 Billion

On April 28, 2020, Westpac Banking Corporation (NZX: WBC) made an announcement that impairment charges in 1H FY 2020 result are anticipated to be $2,238 million (pre-tax). This impairment charge consists around $0.6 billion from the individually assessed provisions and net write-offs along with around $1.6 Bn of additional impairment charges mainly related to coronavirus impacts.4

QEX Logistics Limited Appointed MD for QEX Australian Operations

QEX Logistics Limited (NZX: QEX) made an announcement about the appointment of Mr Tony Li to newly established executive position of Managing Director for Australian subsidiary named New Y Trading (AUS) Pty Limited. As per the release, even though there has been global economic disruption as a result of Covid-19, long-term potential in Australian market is favorable.

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