How New Zealand Markets Performed on April 30, 2020?

  • Apr 30, 2020 NZST
  • Team Kalkine
How New Zealand Markets Performed on April 30, 2020?

The number of new Covid-19 cases are declining, helping transition to positive sentiments around the market. Over this, the government has already allowed some businesses to operate amidst regulating strict measures to curb any further spread and requesting public to comply with the rules and regulations. There have been projections for contraction in GDP for 2020 and early days of 2021, but good recovery can be expected by mid or end of 2021.

New Zealand’s benchmark index S&P/NZX50 ended at 10,532, a decline of 1.26% on the previous day. At NZX Main Board, the daily volume and value traded stood at 76.2 million and $273.33 million, respectively. Thematic indices such as S&P/NZX MidCap Index and S&P/NZX SmallCap Index ended the day at 26,779.050 (a fall by 0.39%) and 51,566.410 (an increase by 0.52%).

Sectoral indices such as S&P/NZX All Industrials, S&P/NZX All Consumer Discretionary, S&P/NZX All Financials, and S&P/NZX All Information Technology rose by 1.17%, 4.35%, 0.53%, and 2.19%, respectively. However, S&P/NZX All Communications Services fell by 3.37% on April 30, 2020.

On April 30, 2020, EROAD Limited (NZX: ERD) rose by 8.40%, Smartpay Holdings Limited (NZX: SPY) by 7.37%, SkyCity Entertainment Group Limited (NZX: SKC) by 6.83%, Me Today Limited (NZX: MEE) by 5.88% and Geneva Finance Limited (NZX: GFL) increased by 5.81%.

On the other hand, Geo Limited (NZX: GEO) fell by 20.00%, New Talisman Gold Mines Limited (NZX: NTL) by 12.50%, Meridian Energy Limited (NZX: MEL) by 5.47% and Rakon Limited (NZX: RAK) decreased by 4.44%.

Important Updates:

New Talisman Gold provides March’20 quarter activities and Cash Flow Report

New Talisman Gold Mines Limited (NZX: NTL) highlighted that the highly anticipated Resource Estimate update is under final review following the adoption of the interim report recommendations received from AMC during the period. As of 28th April 2020, COVID-19 Alert Level has been lowered to Level 3 which would be allowing access to the site so long as the distancing measures are feasible. However, underground works remain unlikely in Alert Level 3 because of size of the tunnels as well as nature of the ventilation in the mine.

ANZ releases Speaking Notes of Chairman and CEO on Half Year 2020 Results

The bank made an announcement that its statutory profit after tax for the half-year ended March 31, 2020 stood at $1.55 billion, reflecting a fall of 51% on prior comparable period. This was driven mainly because of the credit impairment charges amounting to $1.674 billion which included increased credit reserves for COVID-19 impacts of $1.031 Bn. As per the release, valuation of the investments in Asian associates was impaired by $815 Mn, primarily due to impact of COVID-19.

 


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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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