Utilities Stocks Weighed Over NZ Market

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Utilities Stocks Weighed Over NZ Market

 Utilities Stocks Weighed Over NZ Market
Image source: Copyright © 2021 Kalkine Media Pty Ltd.

On 19th November 2021, the equity market in NZ was impacted by the selling in the utilities sector. On the same day, NZX 50 Index and NZX 20 Index fell by 0.47% and 0.54%, respectively. Also, NZX 10 Index has witnessed a decline of 0.61%. NZX All Utilities fell by 0.99%.

Major S&P/NZX Indices Movement

Data Source: NZX, Table Source: Copyright © 2021 Kalkine Media

Performance of Indices:

NZX 50 Index closed at 12,740.12, implying ~1.46% increase in the time span of the previous 1 year. MidCap Index and SmallCap Index closed at 6,327.45 and 23,470.82 points, respectively.

S&P/NZX 50 Index vs SmallCap Index vs MidCap Index – Performance Over One Year

S&P/NZX 50 Index vs SmallCap Index vs MidCap Index – Performance Over One Year

Source: REFINITIV

Gainers and Losers:

Steel & Tube Holdings Limited (NZX: STU) reported the 14% YoY growth in the revenue for the first 4 months of financial year (to the end of October 2021). It has provided guidance for the 6 months ended 31st December 2021. Its EBIT is anticipated to be more than $17 Mn, as compared to $8.9 Mn in pcp.

Rakon Limited (NZX: RAK) rose by 7.23% to NZ$1.780 per share.

Top 5 Gainers and Losers on 19 November 2021

Data Source: NZX, Table Source: Copyright © 2021 Kalkine Media

Movement on Wall Street:

On 18th November 2021, NASDAQ Composite rose by 0.45% to 15,993.71. However, Dow Jones Industrials Average declined by 0.17% to 35,870.95.

Note: The reference data in this article has been partly sourced from REFINITIV

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