S&P/NZX50 Witnessed A Marginal Fall on July 22, 2020

On July 22, 2020, S&P/NZX50 ended the session in red as the index witnessed a fall of 0.12% to 11,723 and S&P/NZX20 encountered a fall of 0.18% to 7,830. On the same day, S&P/NZX10 fell by 0.63% to 12,399.

S&P/NZX All Energy ended the session in green as there was a rise of 4.75% while S&P/NZX All Consumer Staples fell by 1.09%. We will now have a look at the performance of some individual stocks.

On July 22, 2020, the stock price of Blackwell Global Holdings Limited (NZX: BGI) witnessed a rise of 28.57% to NZ$0.090 per share. On the same day, the share price of Allied Farmers Limited (NZX: ALF) rose by 6.25% to NZ$0.680 per share.

The following image provides an idea as to how the share price of ALF has trended in the span of past 90 days:

Stock Performance (Source: NZX)

Stock Performance (Source: NZX)

ZEL Announces Financial Results for Q1 FY 2021

During the first quarter, Z Energy Limited (NZX: ZEL) delivered RC EBITDAF amounting to $38 Mn, which includes $11 Mn RC EBITDAF loss for April when NZ was in alert level 4 and alert level 3 lockdown.

For FY21, the company is targeting $48 Mn of structural operating cost reductions. It is targeting an additional $26 Mn of one-off cost reductions in FY 2021 split between COGS as well as opex. The company stated that cost-out program happens to be on track to deliver expected cost reductions. The $347 Mn of capital raised during May allowed the company to repay $180 Mn of term debt during June.

On July 22, 2020, the stock price of ZEL rose 5.09% to NZ$2.890 per share.

LIC Announced Financial Results For the Year to May 31, 2020

Livestock Improvement Corporation (NZX: LIC) came forward and made an announcement about the financial results for the year to May 31, 2020, and it reported an increase in underlying earnings, record revenue as well as ongoing strength of cooperative’s balance sheet. The company stated that the robust result was in line with the market guidance and was achieved even though there were impacts of drought in many areas of NZ as well as global and domestic impacts of coronavirus late in FY 2020.

The company’s underlying earnings stood at $22.7 Mn, reflecting a rise of 16.2% from last year’s figure of $19.5 Mn. Its total revenue amounted to $254.0 Mn, up 3.0% as compared to the last year’s figure of $246.5 Mn.

The website https://kalkinemedia.com/nz is a service of Kalkine Media New Zealand Limited (Kalkine Media), Company Number: 8107196. The principal purpose of the content on this website is to provide factual information only and does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stock of the company (or companies) or engage in any investment activity under discussion. We are neither licensed nor qualified to provide investment advice through this platform. In providing you with the content on this website, we have not considered your objectives, financial situation or needs. You should make your own enquiries and obtain your own independent advice prior to making any financial decisions.
Some of the images that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed on this website unless stated otherwise. The images that may be used on this website are taken from various sources on the web and are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it below the image. The information provided on the website is in good faith, however Kalkine Media does not make any representation or warranty regarding the content, accuracy, or use of the content on the website.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK