5 NZX Stock Stories To Keep A Tab On Monday

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5 NZX Stock Stories To Keep A Tab On Monday

 5 NZX Stock Stories To Keep A Tab On Monday
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Summary

  • Fonterrra noted a surge in milk production due to buoyant state in major farming locations.
  • Air New Zealand experienced a rise in the number of flyers in April 2021 versus pcp.
  • Synlait Milk increased its milk price prediction for the 2020-2021 season.

Australian PM Scott Morrison is on a two-day visit to New Zealand (30 May-31 May) for annual leaders’ meeting. New Zealand PM Jacinda Ardern and Morrison are laying major emphasis on the topics like coronavirus recovery and China’s increasing regional impact.

Australian PM Morrison’s visit seems to be having a fruitful effect on the stock exchange. On 31 May, the benchmark index S&P/NZX50 last traded at 12,308.430 points, up by 1.04%.

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On the back of the given description, let’s get acquainted with the few NZX stocks and their updates.

Fonterrra Co-operative Group Limited

New Zealand-domiciled dairy entity, Fonterrra Co-operative Group Limited (NZX:FCG) gave the global dairy update stating that the monthly milk production climbed up in two nations and a region - New Zealand by 11.6% (YoY), the US by 3.3% (YoY), and the EU 0.5% (YoY).

New Zealand’s milk production gained due to the positive season conditions in major rural areas of the North Island. 

On the monthly exports front, Australia, EU, and the US dairy exports grew by 16.6% (March), 0.3 % (February) and 21.3 % (March), respectively. Here, New Zealand took a dip by 5.6% (April).

During April 2021, Fonterra’s NZ collection was noted at 118.2 million kgMS, while season-to-date collection stood at 1,464 million kgMS.

On May 31, by the end of the trading session, Fonterra was down by 0.29% at NZ$3.380.

Do Read; Why These 4 NZX Stocks Are A Cut Above The Rest

The A2 Milk Company Limited

A dairy nutritional entity, The A2 Milk Company Limited (NZX:ATM; ASX:A2M) is conscious of media coverage pertaining to the class action taken against The a2 Milk, which is being probed by Slater & Gordon Lawyers.

Though, The a2 Milk is not informed of any legal action taken against it and considers that it has fulfilled all applicable disclosure obligations. It refutes any allegation related to it. The a2 Milk would notify the market with the future updates.

On 31 May, by the end of the trading session,  The A2 Milk Company was down by 0.34% at NZ$5.860.

Must Read; Know About These 6 NZX Stocks That Gained Maximum Volume Today

Air New Zealand Limited

Air New Zealand Limited (NZX:AIR; ASX:AIZ) in an investor update provided for April 2021 highlighted that 866K passengers were carried versus 15K passengers on pcp.

On the YTD financial front, in April 2021, Air New Zealand noted 47% increase from the 2020 level. The year-to-date RASK for the Group including FX was 34.9%, while excluding FX was 35%.

On 31 May by the end of the trading session,  Air New Zealand was at NZ$1.670, up by 0.30%.

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Synlait Milk Limited

Synlait Milk Limited (NZX:SML; ASX:SM1)  on 31 May revised its milk price prediction, boosting it from $7.20 kgMS to $7.55 kgMS for the 2020-2021 season.

The Company’s opening projection for the 2021-2022 season was noted at $8.00kgMS.

The final milk price for the 2020-2021 season of Synlait would be established once it declares its FY21 report on 27 September.

On 31 May, by the end of the trading session, Synlait was at NZ$3.040, up by 0.33%.

A Quick Read; Look at 6 NZX stories doing the rounds on Monday

Skellerup Holdings Limited

International provider of engineered goods, Skellerup Holdings Limited (NZX:SKL) notified the market that it was proud of collaborating with I am Hope and support Gumboot 2021.

It is trying to alter the language and approach towards mental health and raise capital for children requiring counselling free of cost.    

The Company submitted a cheque for NZ$20K to the I am Hope through Mike King, ambassador, and founder of the team.  

On 31 May, by the end of the trading session, Skellerup Holdings was at NZ$4.640, up by 2.43%.

Also Read; Which of These Six Stocks Rose or Fell on the NZX Today?

A Majority of NZX indices in Green

At the time of writing on Monday afternoon, a majority of the NZX stocks and indices were moving north. To highlight a few, S&P/NZX All Energy and S&P/NZX All Consumer Discretionary closed the trading session on 31 May, up by 0.97 % and 0.51%, respectively.

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