5 stock stories creating a buzz on NZX - TLS, GSH, PCT, AIR, TGG

Stock markets are quite volatile. Several variables influence them, including corporate announcements, changes in the federal government policy, natural disasters, investor attitudes, and exchange rates, among others.

Source: Copyright © 2021 Kalkine Media

Amid this backdrop, let us look at these 5 interesting stocks that created the buzz at NZX on Friday.

Telstra Corporation Limited (NZX:TLSASX:TLS)

Telstra Corporation announced Friday that it would finalise its delisting from the NZX Main Board and will become a sole listing on the ASX from 21 June. Shareholders who hold Telstra shares on the NZX will be transferred to the ASX.

Telstra first announced its plans to delist from the New Zealand market in March. The decision was taken to simplify its shareholder services and ease its administration operations.

On 18 June, TLS ended the trading session flat at $3.85.

Good Spirits Hospitality Limited (NZX: GSH

Good Spirits informed the market about its agreement to lease Auckland Viaduct, a premier site located in Auckland leading hospitality area. ATL has an initial term of 9 years with a renewal options of 2 x 3 years and will begin from September 1, 2021.

CEO Geoff Tuttle stated that the investment would provide GSH with a great chance to solidify its status as the Viaduct's premier hospitality provider. Further, it will provide substantial operational synergies by establishing 3 pillars for GSH in the area by using its current 2 outlets, Danny Doolan's and O'Hagan's.

DO READ: Are small caps liked by the investors? How to differentiate between small with mid caps

On 18 June, GSH ended the trading session flat at $0.078.

Precinct Properties New Zealand Limited (NZX:PCT)

Precinct Properties stated today that it was looking to raise $250 million from investors to fund the acquisition of Bowen House, which is 31 years old, and, most likely, Freyberg Building, both in the government domain, in order to lower down its debt.

The equity raise will be done through $220 million placement and a non-underwritten retail offer of up to $30 million with the capability to agree to oversubscriptions.

On 18 June, PCT ended the trading session flat at $1.59.

Image source: Copyright © 2021 Kalkine Media

Air New Zealand Limited (NZX:AIRNZX:AIZ)

Air New Zealand provided a trading update on Friday. The Group revealed that domestic capacity now stood at 90% of pre-COVID-19 levels and there has been a strong recovery in corporate demand.

The airline has positive EBITDA since September 2020 and has been operating cash flow positive since Q2 FY21. Its performance has also benefited from the government's air freight assistance schemes, wage subsidies.

DO READ: Is Air New Zealand all set to regain its lost sheen?

The Group expects losses before other significant items and taxation will not be more than $450 million for FY21. However, the outlook for FY22 remains uncertain.

On 18 June, AIR ended the trading session at $1.615, down 0.31% from its previous close.

T&G Global Limited (NZX:TGG)

T&G Global revealed on Friday that it had approved a final dividend of 6cps w.r.t FY20, due to be paid on 8 July. The Group’s Dividend Reinvestment Plan (DRP) will remain suspended and will not affect this dividend.

ALSO READ: How NZX dividend stocks are managing healthy payouts amid low-interest rate scenario

In May, the firm had also announced that Prof. Klaus Josef Lutz would step down from the company at the end of its AGM to be held on June 23, 2021.

On 18 June, TGG ended the trading session at $2.99, up 2.05% from its previous close.

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


Disclaimer
The website https://kalkinemedia.com/nz is a service of Kalkine Media New Zealand Limited (Kalkine Media), Company Number: 8107196. The principal purpose of the content on this website is to provide factual information only and does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stock of the company (or companies) or engage in any investment activity under discussion. We are neither licensed nor qualified to provide investment advice through this platform. In providing you with the content on this website, we have not considered your objectives, financial situation or needs. You should make your own enquiries and obtain your own independent advice prior to making any financial decisions.
Some of the images that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed on this website unless stated otherwise. The images that may be used on this website are taken from various sources on the web and are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it below the image. The information provided on the website is in good faith, however Kalkine Media does not make any representation or warranty regarding the content, accuracy, or use of the content on the website.

   

Kalkine

Rated 4.3/5 based on 904 Reviews at Google My Business
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK