5 NZX stocks that are in focus today – SKT, RBD, NZO, HLG, WBC, DOW

Investors and stakeholders watch the stock market for different developments every day. The New Zealand Stock Exchange (NZX) witnesses several stocks fluctuating in prices with several factors affecting the prices like company announcements, takeovers, and change in policies, etc.

The S&P/NZX50 fell 0.24% to 12,620.52 points on Tuesday. At the time of writing today, the benchmark index was up 0.25% to 12,652.32 points.

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Let’s have a look at 5 NZX stocks that provided updates today.

Sky Network Television Limited (NZX:SKT, ASX:SKT)

Sophie Moloney, Chief Executive of SKY, made alterations in its leadership strategy at Sky, which included a smaller Executive and a flatter structure.

The smaller Executive will involve Sophie Moloney, CEO, Andrew Hirst, CFO, Michael Frampton, (COO), and Jonny Errington, (Chief Commercial Officer), with a Chief Customer Delivery Officer to be appointed.

Sky is also bidding farewell to its Chief Customer Officer, Chaz Savage, and Chief Creative Officer, Steve Bayliss, as part of the changes.

On 28 April, SKT ended the trading session at $0.174, down 1.14% from its previous close.

Restaurant Brands New Zealand Limited (NZX:RBD, ASX:RBD)

Restaurant Brands announced the total sales made in Q1 ended in March 2021. The Group’s total sales rose 11.2% on pcp to $259.7 million in the quarter.

While sales in NZ were $115.2 million, sales in Australia were $58.1 million in Q1 FY21, up by 17.6% and 11.1%, respectively.

The increase in sales was propelled by the addition of trading for the California acquisition, 10 more stores in Australia, and strong same store sales growth in Hawaii and NZ.

On 28 April, RBD ended the trading session flat at $13.09.

New Zealand Oil & Gas Limited (NZX:NZO)

NZ Oil & Gas subsidiary, Cue Energy Resources (ASX:CUE), provided an update on its PB-5 well today. Cue announced that the PB-5 development well in the Mahato PSC had recently been effectively drilled and tested at a gross rate of roughly 1,000 barrels of oil per day. NZO has 50.4% interest in Cue.

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The well has been finalised as an oil producer and is connected to the production system.

On 28 April, NZO ended the trading session at $0.455, up 2.25% from its previous close.

The Hallenstein Glasson Holdings Limited (NZX:HLG)

Hallenstein Glasson Holdings advised that the Group sales and NPAT for the 6 months to 1 February 2021 stood at $181.98 million and $19.84 million, up 13.6% and 28.6%, respectively, on pcp.

Digital sales rose to 23.8% of the total Group sales for the 6-month period. The Group paid an interim dividend of 23cps on 16 April 2021. HLG plans to build digital engagement with its customers, and cost control, and improve market share in the New Zealand and the Australian fashion apparel sector.

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On 28 April, HLG ended the trading session at $7.3, up 0.69% from its previous close.

Westpac Banking Corporation (NZX:WBC, ASX:WBC)

Westpac declared that its cash earnings would be reduced by $282 million while statutory net profit will also be lowered in 1H21.

The Group also resolved a class action related to the premiums paid for some insurance plans. The policies were taken out with Westpac Life Insurance Services Limited between 2011 and 2017. The settlement has a cap at $30 million and is subject to a sanction by the Federal Court of Australia.

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On 28 April, WBC ended the trading session at $27.18, up 1.12% from its previous close.

(NOTE: Currency is reported in NZ Dollar unless stated otherwise)

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