S&P/NZX50 Ended in Green: What You Need to Know

  • May 19, 2020 NZST
  • Team Kalkine
S&P/NZX50 Ended in Green: What You Need to Know

On May 19, 2020, S&P/NZX50 ended the session in green as the index witnessed an increase of 0.30% to 10,790 and S&P/NZX20 rose by 0.15% to 7,267. On the other hand, S&P/NZX10 ended the session in red as there was a decline of 0.23% to 11,288.

S&P/NZX All Utilities ended the session in green as there was an increase of 1.80% while S&P/NZX All Consumer Staples fell by 2.12%.

Metro Performance Glass Limited (NZX: MPG) and ikeGPS Group Limited (NZX: IKE) closed in green as the prices of these stocks rose by 10.32% and 9.52%, respectively on an intraday basis. On the other hand, SeaDragon Limited (NZX: SEA) fell by 13.16% to NZ$0.066 per share.

MPG Ended Session in Green

In the release dated May 6, 2020, MPG stated that its four NZ manufacturing sites have recommenced operations as well as all the metro direct branches throughout the country have reopened. Despite losing a week of NZ operations in March, the company has confirmed that it anticipates FY 2020 Group EBIT at the lower end of $21 Mn – $24 Mn guidance range which was provided in the month of November 2019.

The EBIT guidance excludes the impact of change to IFRS-16 as well as net abnormal charge of around $5 Mn related to restructure of NSW operations. The company has further strengthened financial position this year and retained undrawn borrowing headroom of over $50 Mn and cash balance of approximately $15 Mn at March 31, 2020. 

SPY Ended in Green

With respect to Australia, Smartpay Holdings Limited (NZX: SPY) has stated that, on 20th April, it released an update noting 40% fall in the aggregate transactional revenues through terminals as a direct result of measures which were implemented in response to coronavirus on many of the company’s merchants.

It has notified the market that it has witnessed a steady recovery in the merchant transactions in the span of past four weeks with the aggregate transactional revenue having recovered to 75% of the pre-COVID levels.

With respect to outlook, the company stated that since Australian and NZ economies are opening up again, SPY is well positioned to resume as well as accelerate the growth in new terminal numbers.

 


Disclaimer
The website has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. The above article is NOT a solicitation or recommendation to buy, sell or hold the stock of the company (or companies) under discussion. Kalkine does not in any way endorse or recommend individuals, products or services that may be discussed on this site.

 

   
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