Understanding the Performance of NZ Markets

  • May 07, 2020 NZST
  • Team Kalkine
Understanding the Performance of NZ Markets

On May 7, 2020, S&P/NZX50 ended the session in green as the index witnessed a rise of 0.72% on an intraday basis to 10,649 and S&P/NZX20 rose by 0.54% to 7,195. Also, on the same day, S&P/NZX10 witnessed a rise of 0.37% to 11,179.

On May 7, 2020, S&P/NZX All Healthcare ended in green as there was a rise of 1.35% and S&P/NZX All Information Technology rose by 8.08%. However, S&P/NZX All Materials witnessed a fall of 1.50% on an intraday basis.

Smartpay Holdings Limited (NZX: SPY) and Pushpay Holdings Limited (NZX: PPH) ended the session in green as these stock witnessed an increase of 15.38% and 12.91%, respectively on an intraday basis.

However, New Talisman Gold Mines Limited (NZX: NTL) and Rakon Limited (NZX: RAK) closed by falling 12.50% and 6.82%, respectively.

Smartpay Ended the Session By Rising 15.38%

Smartpay Holdings Limited (NZX: SPY) has recently notified the market it received a notice from Verifone which relates to the termination of asset sale agreement.

The agreement was in relation to the sale of NZ business and assets. This has been done because one or more conditions have not been satisfied by April 30, 2020 (Condition Date).

SPY has also notified that the proposed revised terms in order to complete the deal has been received from Verifone.

However, SPY does not consider revised terms proposed by Verifone to be acceptable. Notably, SPY has made a confirmation to Verifone that it considers the agreement as cancelled.

Recent Update on Scott Technology

Scott Technology (NZX: SCT) advised that Andre Nogueira de Souza has resigned from the position of Director of Scott Technology Limited, effective from 7th May 2020. The company has also made an announcement about the appointment of Alan Byers to the position of Director, effective from May 8, 2020.

PaySauce Made the Launch of PaySimple

PaySauce (NZX: PYS) has recently made an announcement about the launch of PaySimple, which happens to be a streamlined version of PaySauce payroll software. Until 30th June, the product would be free to Kiwi employers to support businesses that are in need of a cloud-based solution amidst COVID-19.


The website has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. The above article is NOT a solicitation or recommendation to buy, sell or hold the stock of the company (or companies) under discussion. Kalkine does not in any way endorse or recommend individuals, products or services that may be discussed on this site.


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