S&P/NZX50 Rose by 0.69% on July 17, 2020

  • Jul 17, 2020 NZST
  • Team Kalkine
S&P/NZX50 Rose by 0.69% on July 17, 2020

On July 17, 2020, S&P/NZX50 ended the session in green as the index witnessed a rise of 0.69% to 11,584 while S&P/NZX20 rose by 0.78% to 7,720. On the same day, S&P/NZX10 encountered an increase of 0.77% to 12,241.

S&P/NZX All Consumer Staples witnessed a rise of 1.84% while S&P/NZX All Materials ended in red as there was a decline of 1.53%. We will now have a look at the performance of individual stocks.

On July 17, 2020, the share price of Blackwell Global Holdings Limited (NZX: BGI) rose by 11.11% on an intraday basis to NZ$0.050 per share. On the same day, the stock of Foley Wines Limited (NZX: FWL) increased by 6.67% to NZ$1.760 per share.

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

Stock Performance (Source: NZX)

Stock Performance (Source: NZX)

NZO Ended the Session in Green

New Zealand Oil & Gas Ltd (NZX: NZO) recently stated that it has been advised by Operator BP, that the Ironbark Exploration Drilling Environment Plan has been approved. As per the release, the Joint Venture has been working towards commencing drilling in the month of October 2020.

It was mentioned that Exploration permit WA-359-P is located in Carnarvon Basin, offshore Western Australia, ~50 km from existing North West Shelf LNG infrastructure. The Ironbark-1 well is expected to drill to approximately 5500 metres and would be the first test of Ironbark gas prospect.

On July 17, 2020, the share price of NZO rose by 9.35% on an intraday basis to NZ$0.585 per share.

IKE Increased 4.17% on July 17, 2020

ikeGPS Group Limited (NZX: IKE) made an announcement that one of the largest communications infrastructure companies in the US has standardized on the company’s platform for all pole-related 5G as well as fiber deployment processes.

The company stated that anticipated revenue impact has not been defined yet. However, there are expectations that this would be having a positive impact on the company’s financial performance FY21 and beyond, and on the broader position in North American market.

 


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