On July 14, 2020, S&P/NZX50 ended the session in green as the index witnessed a rise of 0.52% to 11,494 and S&P/NZX20 rose by 0.67% to 7,662. On the same day, S&P/NZX10 encountered an increase of 0.53% to 12,145.
S&P/NZX All Communications Services witnessed a rise of 2.59% and S&P/NZX All Materials ended the session in red as there was a fall of 2.44%. We will now have a look at the performance of individual stocks.
On July 14, 2020, the stock price of Geneva Finance Limited (NZX: GFL) rose by 5.41% to NZ$0.390 per share. On the same day, the share of Sanford Limited (NZX: SAN) increased by 4.43% to NZ$6.600 per share.
The following image provides a broad overview as to how the share price of SAN has trended in the span of past 90 days:
Stock Performance (Source: NZX)
A Recent Update on PYS
PaySauce Limited (NZX: PYS) came forward and stated that the company has finished the first quarter of FY21 with continued robust growth. Relative to 1Q of FY20, the company’s total recurring revenue rose 54% to $449K. As per the release, number of employees in NZ being paid via PaySauce payroll software rose by 42% to 13,952 people, and the total number of employers processing pays via PaySauce rose by 41% to 2,824.
The company has welcomed over 330 new clients this quarter, reflecting an increase of 13% in total customer base since March 31st despite the pandemic as well as lockdown.
On July 14, 2020, the stock of PYS rose by 2.22% on an intraday basis to NZ$0.460 per share.
NZR Extends Debt Facility
The New Zealand Refining Company Limited (NZX: NZR) made an announcement that it has entered into binding documentation in order to extend the term of $40 Mn of existing facility maturing in the month of March 2022, by a further two and a quarter years. The company stated that $40 Mn facility would be maturing on June 30, 2024.
The weighted average term of the company’s senior debt facilities is 3.3 years. It has total available facilities amounting to $400 Mn and its net debt position at 30 June 2020 stood at $250 Mn.