With many companies coming out of their March’20 quarterly report, the impact from Covid-19 would give us some clear picture. Coming weeks would be crucial as there would be phase-wise ease in the restrictions, and various policy measures would be worked upon to get back the economy on track. As the market players are aware, the impact of COVID-19 was witnessed on many sectors and the sentiments of investors were negatively impacted. When the global growth is questioned, market players tend to park their funds towards safer asset classes.
New Zealand’s benchmark index S&P/NZX50 ended at 10,449, a decline of 0.79% on the previous day. At NZX Main Board, the daily volume and value traded stood at 53.14 million and $156.51 million, respectively. Thematic indices such as S&P/NZX MidCap Index and S&P/NZX SmallCap Index ended the day at 26.546.150 (a fall by 0.87%) and 51.158.800 (a fall by 0.79%), respectively.
Sectoral indices such as S&P/NZX All Industrials, S&P/NZX All Consumer Discretionary, S&P/NZX All Information Technology, and S&P/NZX All Real Estate fell by 1.13%, 2.33%, 4.11%, and 0.80%, respectively. However, S&P/NZX All Health Care and S&P/NZX All Financials, rose by 1.70% and 0.63% on May 1, 2020.
On May 1, 2020, Tower Limited (NZX: TWR) rose by 5.00%, and Cannasouth Limited (NZX: CBD) increased by 4.55%. On the same day, Smartpay Holdings Limited (NZX: SPY) ended the session in red as there was a fall of 23.53% to NZ$0.390 per share and Burger Fuel Group (NZX: BFG) declined by 7.14% to NZ$0.520 per share.
General Finance Publishes its March’20 Quarter Report
General Capital Limited (NZX: GEN) highlighted that its subsidiary General Finance Limited, a licensed Non-bank Deposit Taker, reported its quarterly report, where it highlighted that its capital ratio calculated in accordance with the 2010 Regulations stood at 19.56%. Its aggregate exposures to related parties as calculated in accordance with the 2010 Regulations stood at 1.92%.
Stride Property Ltd & Stride Investment Management Ltd Ended in Green on NZX
For 12 months ended March 31, 2020 (or FY 2020), Stride Property Limited (or SPL) reported revaluation movement of -$1.0 million, reflecting -0.1% decrease, with the total portfolio value amounting to $995.6 million. On May 1, 2020, the stock of SPG ended the session in green as there was a rise of 1.99% on an intraday basis to NZ$1.540 per share.