S&P/NZX50 Ended The Session in Red

  • Aug 14, 2020 NZST
  • Team Kalkine
S&P/NZX50 Ended The Session in Red

On August 14, 2020, S&P/NZX50 ended the session in red as there was a fall of 0.42% to 11,452 while S&P/NZX20 encountered a decline of 0.36% to 7,654. On the same day, S&P/NZX10 witnessed a decline of 0.23% to 12,125.

S&P/NZX All Financials ended in red as there was a fall of 1.87% while S&P/NZX All Consumer Staples witnessed a rise of 0.63%. We would now have a look at the performance of some individual stocks.

The stock price of Good Spirits Hospitality Limited (NZX: GSH) ended the session in green as there was a rise of 11.86% on an intraday basis to NZ$0.066 per share. On the same day, NZME Limited (NZX: NZM) rose by 5.77% to NZ$0.275 per share.

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

Stock Performance (Source: NZX)

Stock Performance (Source: NZX)

A Recent Update on IKE

ikeGPS Group Limited (NZX: IKE) came forward and made an announcement about successful completion of retail component of fully underwritten 1 for 7 accelerated non-renounceable entitlement offer.

The company stated that retail entitlement offer to eligible retail shareholders wrapped up on 11th August 2020 and garnered gross proceeds amounting to ~NZ$4.1 Mn.

Notably, retail entitlement offer was closed oversubscribed, and there was robust support from the company’s eligible retail shareholders. IKE received applications, including via oversubscription facility, of ~NZ$4.3 Mn.

The stock price of IKE ended in red as there was a fall of 2.08% on an intraday basis to NZ$0.940 per share. 

The Stock of AIA Ended in Red

Auckland International Airport Limited (NZX: AIA) released traffic update for the month of June 2020. Also, the company provided July 2020 preview. As per the release, total passenger volumes fell 84.9% in the month of June 2020 as compared to last year. Notably, international passengers (excl. Transits) were down by 97.0 percent, transit passengers were down by 96.5 percent while domestic passengers were down 70.9%.

The fall in total passengers for the month of June 2020 implies the impact of travel restrictions imposed by NZ Government in response to coronavirus.

The stock price of AIA fell by 1.59% to NZ$6.200 per share.  


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