Understanding the Performance of S&P/NZX50

On June 29, 2020, S&P/NZX50 ended the session in green as there was an increase of 1.11% to 11,253 while S&P/NZX20 rose by 1.37% to 7,517. On the same day, S&P/NZX10 encountered a rise of 2.02% to 11,890.

S&P/NZX All Health Care witnessed an increase of 2.68% while S&P/NZX All Consumer Discretionary fell by 3.24%.

The stock price of New Talisman Gold Mines Limited (NZX: NTL) rose by 14.29% on an intraday basis to NZ$0.008 per share.

Also, the stock price of Fisher & Paykel Healthcare Corporation Limited (NZX: FPH) increased 4.69% to NZ$33.500 per share. FPH has announced results for the full year to March 31, 2020. The company’s operating revenue amounted to $1.26 billion, up by 18% as compared to last year, or 14% in constant currency. Its net profit after tax stood at $287.3 Mn, reflecting a rise of 37% on previous year, or 30% in constant currency.

The below image gives an idea as to how the share price of NTL has trended in the span of 90 days:

Stock Performance (Source: NZX)

Stock Performance (Source: NZX)

Stock of ABA Rose by 17.19% on June 29, 2020

The Board of Abano Healthcare Group Limited (NZX: ABA) recently met in order to consider 2 credible proposals from third parties to invest in a cornerstone shareholding in the company as well as support an accompanying pro-rata rights offer to the shareholders. The company has received a further revised non-binding, indicative offer to acquire all of Abano shares by way of scheme of arrangement from one of the parties.

As per the release issued, the Board would be considering the proposal in good faith. It is also taking further advice from the legal as well as financial advisers.

General Capital Releases Financial Results to March 31, 2020

General Capital Limited (NZX: GEN) came forward and made an announcement about the financial results to March 31, 2020. The company’s total assets rose by 114% to $51.2 million while its net revenue witnessed a rise of 48% to $2.0 million. Notably, the company’s net profit after tax amounted to $130k, reflecting a rise of 128%. The year has been very positive in finance segment as there was a YoY growth of 102% in the loan receivables as well as 178% in the term deposit liability. These were the primary drivers of 71% YoY rise in the net revenue and 254% YoY growth in the net profit generated from this segment.

The stock of GEN witnessed a rise of 9.52% on an intraday basis to NZ$0.115 per share on June 29, 2020.


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