On July 1, 2020, S&P/NZX50 ended the session in red as the index witnessed a fall of 0.88% to 11, 350 while S&P/NZX20 fell by 1.07% to 7,576. On the same day, S&P/NZX10 encountered a decline of 1.52% to 12,012.
S&P/NZX All Consumer Discretionary ended in green as there was a rise of 3.05% while S&P/NZX All Health Care fell by 2.44%. We would now have a look at the performance of some individual stocks.
The stock price of Fisher & Paykel Healthcare Corporation Limited (NZX: FPH) witnessed a fall of 3.96% on an intraday basis to NZ$34.190 per share. However, the share price of SkyCity Entertainment Group Limited (NZX: SKC) rose by 6.28% to NZ$2.540 per share.
The following image provides a broad idea as to how the share price of SKC has trended in the span of past one year:
Stock Performance (Source: NZX)
Share Price of AUG Ended in Green
On June 29, Centuria New Zealand Holdings Limited, which is a wholly owned subsidiary of Centuria Capital Group, dispatched the takeover offer seeking to acquire all shares in Augusta Capital (NZX: AUG) it does not presently own. As per the release, The Independent Directors have recommended that shareholders should take no action until they have considered Independent Advisers Report as well as the Independent Directors’ recommendation.
On July 1, 2020, the stock price of AUG rose by 6.82% on an intraday basis to NZ$0.940 per share.
AMP Wraps Up the Sale of Life Insurance Business
AMP Limited (NZX: AMP) made an announcement about the completion of sale of the life insurance business, AMP Life. This sale has been made to Resolution Life for A$3.0 Bn, delivering a key priority in transformation strategy of AMP.
As per the release, final cash proceeds as a result of the sale are subject to numerous post completion adjustments. However, AMP anticipates the net proceeds to increase AMP’s capital in excess of target surplus by ~A$1.1 Bn. AMP expects that any capital in excess of target surplus post completion would be first used to finance the delivery of new AMP strategy.
On July 1, 2020, the share price of AMP Limited increased by 2.01% on an intraday basis to NZ$2.030 per share.