S&P/NZX50 Ended The Session in Red: A Quick Look

On May 15, 2020, S&P/NZX50 closed in red as the index witnessed a fall of 0.13% on an intraday basis to 10,731 while S&P/NZX20 was down by 0.31% to end at 7,234. On the same day, S&P/NZX10 witnessed a fall of 0.23% to 11,272.

S&P/NZX All Information Technology ended the session in green as the index witnessed a rise of 2.11%. On the other hand, S&P/NZX All Utilities ended in red as there was a fall of 1.32% on May 15, 2020.

Let us now have a look at the performance of some individual stocks. New Talisman Gold Mines Limited (NZX: NTL) and Chatham Rock Phosphate Limited (NZX: CRP) ended in green as these stocks rose by 14.29% and 10.43%, respectively on an intraday basis. On the other hand, Mercer Group Limited (NZX: MGL) witnessed a fall of 11.11% to NZ$0.240 per share.

QEX Ended the Session In Green

As per the release dated May 8, 2020, QEX Logistics Limited (NZX: QEX) has generated improved 2H result after the tough 1H of the year as was notified to the market in the month of November last year. The company’s full year unaudited revenue for FY 2020 has been anticipated to be $63 Mn, reflecting an increase from $59.4 Mn in prior corresponding period (or FY 2019).

The company’s EBITDA for full year has been anticipated to be between $2.8 Mn to $3.0 Mn and net profit before tax has been anticipated to be in the range of $1.5 Mn to $1.7 Mn. This includes impact of costs associated with establishing new Australian operations.

The company also stated that it has transitioned to new IFRS 16: Leases financial reporting standard for first time. Application of the new standard is expected to result in the increase of EBITDA by $750,000 as well as reduce net profit before tax by $50,000 on FY 2019.

Recent Update on Z Energy Limited

Z Energy Limited (NZX: ZEL) has recently made an announcement about the opening of NZ$60 Mn non-underwritten SPP (or share purchase plan).

The company stated that SPP happens to be a part of the company’s equity raising, which was announced on May 11, 2020, whereby it also undertook fully underwritten NZ$290 Mn placement of the new shares to existing institutional as well as other select investors in local and offshore markets.



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