S&P/NZX50 Closed in Red: A Quick Look

  • Jun 11, 2020 NZST
  • Team Kalkine
S&P/NZX50 Closed in Red: A Quick Look

On June 11, 2020, S&P/NZX50 ended the session in red as the index witnessed a fall of 0.94% to 11,155 while, on the same day, S&P/NZX20 declined by 0.87% to 7,437. Notably, S&P/NZX10 ended the trading session at 11,517 which implies a fall of 0.58%.

S&P/NZX All Materials closed in red as there was a decline of 3.15% while S&P/NZX All Communications Services rose by 0.66%.

The share of Comvita Limited (NZX: CVT) ended the session in red as it fell by 0.33% on an intraday basis to NZ$3.020 per share. Also, the stock of SkyCity Entertainment Group Limited (NZX: SKC) fell by 4.59% to NZ$2.910 per share. 

The following image provides an overview as to how the stock of SKC has trended in the span of 90 days:

 

Movement of Share Price (Source: NZX)

Movement of Share Price (Source: NZX)

THL Provides Market Update: What You Need to Know

Tourism Holdings Limited (NZX: THL) has provided a market update and the company stated that there has been an improvement in domestic rental booking activity. This is because lockdown restrictions are now easing throughout the United States, NZ, and Australia. The company stated that its net debt, as at 30 June 2020, is anticipated to be in the range of $165 Mn to $175 Mn. THL’s gross capital expenditure for the year ending June 30, 2020 has been anticipated to be around $110 Mn.

The company is presently determining its capital expenditure for the year ending June 30, 2021. However, this is expected to be significantly lower as compared to capital expenditure in the current financial year. THL is in discussions with the banking partners with regards to ongoing funding arrangements, including new covenant package reflective of risks in the present trading environment.

SPY Releases Business Update

Smartpay Holdings Limited (NZX: SPY) has stated that, in Australia, with further easing of restrictions, the company’s aggregate transactional revenue has recovered to 95% of the pre-COVID levels.

As the key revenue driver in the company’s NZ business is terminal rental, SPY’s NZ business has shown itself to be resilient through COVID-19 period. Since the NZ COVID lockdown restrictions have now ended (except for international travel), the company is witnessing a rapid resumption in the terminal usage by merchants.

Stock of GSH Rose by 9.18%

Good Spirits Hospitality Limited (NZX: GSH) has made an announcement that all venues (except DB Newmarket which will be reopening on July 1, 2020) have opened and trading without COVID-19 related restrictions. This follows the announcement by New Zealand Government to move to Alert Level-1.

 


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