S&P/NZX All Index Witnessed a Marginal Fall; S&P/NZX50 Falls 0.06%

On July 28, 2020, S&P/NZX50 ended the session in red as the index witnessed a fall of 0.06% to 11,578 while S&P/NZX20 fell by 0.17% to 7,725. On the same day, S&P/NZX10 fell by 0.26% to 12,205.

S&P/NZX All Information Technology ended in green as there was a rise of 2.62% while S&P/NZX All Utilities fell by 0.72%. We would now have a look at the performance of some individual stocks.

On July 28, 2020, the stock price of Cavalier Corporation Limited (NZX: CAV) rose by 11.11% on an intraday basis to NZ$0.300 per share. On the same day, the share price of Vista Group International Ltd (NZX: VGL) encountered a rise of 7.03% to NZ$1.370 per share.

The following image provides a broad overview as to how the share price of VGL has trended in the span of past 90 days:

Stock Performance (Source: NZX)

Air New Zealand Limited Provided Monthly Highlights for June 2020

Air New Zealand Limited (NZX: AIR) came forward and released highlights for the month of June 2020. The company stated that 430k passengers were carried in the month of June 2020, reflecting a fall of 74.2% as compared to June 2019. The following image is critical in this regard:

Key Data (Source: Company Reports)

The company has ramped up its domestic schedule for the month of August to 70% of the pre-COVID-19 levels. As per the release, airline had planned to operate approximately 55% of its usual domestic capacity (as compared to pre-COVID19 levels) during the month of August.

A Recent Update on IKE

ikeGPS Group Limited (NZX: IKE) came forward and made an announcement that the company is conducting an institutional placement, as well as a fully underwritten 1 for 7 accelerated non-renounceable entitlement offer, to garner around NZ$19.7 Mn.

The company stated that the funds garnered from institutional placement and entitlement offer would be utilised towards 1) Increasing the company’s sales, support, and implementation teams to support recent customer wins as well as growing sales pipeline; and 2) Providing financing capacity for the potential growth opportunities.

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