S&P/NZX50 Rose by 0.91%; S&P/NZX10 Increased 1.02%

  • Aug 04, 2020 NZST
  • Team Kalkine
S&P/NZX50 Rose by 0.91%; S&P/NZX10 Increased 1.02%

On August 4, 2020, S&P/NZX50 ended the session in green as the index witnessed a rise of 0.91% to 11,772 while S&P/NZX20 encountered an increase of 0.88% to 7,879. On the same day, S&P/NZX10 rose by 1.02% to 12,550.

S&P/NZX All Energy rose by 1.44% while S&P/NZX All Industrials encountered a fall of 1.07%.

On August 4, 2020, the share price of Ascension Capital Limited (NZX: ACE) witnessed a rise of 50% to NZ$0.003 per share. Also, the stock of ikeGPS Group Limited (NZX: IKE) encountered an increase of 3.49% to NZ$0.890 per share.

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

Stock Performance (Source: NZX)

Stock Performance (Source: NZX)

Refining NZ Makes an Announcement of Non-cash Impairment

The New Zealand Refining Company Limited (NZX: NZR) recently made an announcement that it anticipates to recognise non-cash impairment charge in order of $220 Mn before tax (or $158 Mn after tax) in half-year results for 2020. The company stated that impairment charge is mainly because of revised refining margin assumptions, implying excess refining capacity in Asia-Pacific region as well as effects of coronavirus pandemic on transport fuel demand, mainly jet demand. Notably, refining NZ plans to release 2020 half-year results on August 17, 2020.

A Recent Update on BLT

Blis Technologies Limited (NZX: BLT) came forward and made an announcement that it has finalised agreement with Purity Life Health Products LP with respect to the distribution of BLIS branded products into pharmacy as well as health store retail channels in Canada. The company stated that Purity Life would be rolling out Canada-specific BLIS® branded products from BLIS K12™ and BLIS M18™ range.

The CEO of BLT, Brian Watson, stated that the partnership happens to be an another important milestone in realising BLT’s growth ambitions. It was also added that Canadian market represents key new market for BLT.

The share price of BLT ended the session in green as there was a rise of 5.13% to NZ$0.082 per share.


The sole motive of an investor is to grow his/her capital over a period to meet financial goals. In pursuit of this, investors are in a constant hunt for stocks that have capital appreciation potential and those that pay dividends, which one can reinvest to further increase the rate of return. Dividends can also be seen as an incentive for an investor to hold the stock for a longer duration of time, especially when the overall market enters a bear phase, or the underlying invested company goes through business troughs and peaks.

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