How S&P/NZX50 Performed on August 11, 2020

  • Aug 11, 2020 NZST
  • Team Kalkine
How S&P/NZX50 Performed on August 11, 2020

On August 11, 2020, S&P/NZX50 ended the session in red as there was a fall of 0.33% to 11,645 while S&P/NZX20 encountered a decline of 0.35% to 7,773. On the same day, S&P/NZX10 fell by 0.69% to 12,271.

S&P/NZX All Industrials witnessed a rise of 1.27% while S&P/NZX All Health Care encountered a decline of 1.37%. We will now have a look at the performance of some individual stocks.

On August 11, 2020, the stock price of New Talisman Gold Mines Limited (NZX: NTL) witnessed a rise of 16.67% on an intraday basis to NZ$0.007 per share. The share price of Cannasouth Limited (NZX: CBD) rose by 9.09% to NZ$0.600 per share.

The following image provides a broad overview as to how the share price of CBD has trended in the span of past one year:

Stock Performance (Source: NZX)

Stock Performance (Source: NZX)

A Recent Update on HGH

Heartland Group Holdings (NZX: HGH) came forward and made an announcement that it would be announcing the full-year results for the year to June 30, 2020 (or FY 2020) on September 17, 2020. Notably, the company plans to release its annual report for FY 2020 on October 30, 2020.

On April 2, 2020, Reserve Bank of New Zealand amended standard Conditions of Registration, prohibiting payment of distributions by all New Zealand registered banks to the shareholders.

The company stated that prohibition does not prevent Heartland from paying the dividends to its own shareholders. Heartland has been considering whether it would pay any final FY 2020 dividend. As per the release, decision would be announced during announcement of FY 2020 results.

FBU Anticipates Operating Cash Flows to Increase

Fletcher Building Limited (NZX: FBU) made an announcement about key aspects of its expected FY 2020 annual results. The results would be released in full on August 19, 2020. As per the release, the result is anticipated to be a net earnings loss for the year to June 30, 2020 of $196 Mn, mainly due to impacts of coronavirus.

The impacts include significant lost revenues, especially during NZ lockdown as well as start-up period; lower productivity resulting in additional provisioning on legacy construction projects; and one-off restructuring costs as FBU prepares for the reduced market activity.

However, operating cash flows are anticipated to rise in FY 2020 to $410 Mn, driven mainly by effective management of working capital through coronavirus disruptions.

 


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