S&P/NZX50 Witnessed A Marginal Fall: What Investors Need to Know

  • Jul 16, 2020 NZST
  • Team Kalkine
S&P/NZX50 Witnessed A Marginal Fall: What Investors Need to Know

On July 16, 2020, S&P/NZX50 ended the session in red as the index witnessed a fall of 0.91% to 11,505 while S&P/NZX20 declined by 1.05% to 7,660. On the same day, S&P/NZX10 encountered a fall of 1.32% to 12,147.

S&P/NZX All Consumer Staples fell by 3.16% while S&P/NZX All Industrials ended the session in green as there was a rise of 1.37%. We will now have a look at the performance of individual stocks.

The stock price of Blackwell Global Holdings Limited (NZX: BGI) rose by 15.38% on an intraday basis to NZ$0.045 per share. Also, share price of Vista Group International Ltd (NZX: VGL) witnessed a rise of 7.20% to NZ$1.340 per share.  

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

Stock Performance (Source: NZX)

Stock Performance (Source: NZX)

MHJ Ended the Session in Green

Michael Hill International Limited (NZX: MHJ) made an announcement about fourth quarter trading results, along with the business update. The company stated that adjusted same store sales for the quarter were down 4.1%, as compared to the prior year, underpinned by the initiatives gathering momentum throughout business.

The company stated that, for the quarter, online sales were up 193% as compared to prior year, delivering some of the highest weeks in MHJ’s history. In the quarter, numerous digital initiatives were accelerated as well as delivered. For the year, digital channels accounted 4.6% of the total sales.

On July 16, 2020, the stock price of MHJ rose by 9.68% to NZ$0.340 per share. 

A Recent Update By DGL

Delegat Group Limited (NZX: DGL) made an announcement that its 30th June 2020 unaudited IFRS reported profit after tax stood at $64.1 Mn, reflecting a rise of 37% on last year of $46.8 Mn. The company stated that it has achieved record case sales of 3,277,000 cases for the year to June 30, 2020, a rise of 9% on the previous year. The company stated that it would be announcing audited full-year results in late August 2020.

On July 16, 2020, the share price of DGL witnessed a rise of 0.94% to NZ$12.850 per share.  



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