Market Highlights: 5 Interesting NZX Stocks To Watch Out For

Be the First to Comment Read

Market Highlights: 5 Interesting NZX Stocks To Watch Out For

 Market Highlights: 5 Interesting NZX Stocks To Watch Out For
Image source: lucadp, Shutterstock

Summary

  • Australia and New Zealand Banking Group announced different currencies to pay its interim dividend.
  • Pacific Edge appoints Chief Operating Officer while Fonterra Co-operative Group is on a trading halt.
  • ikeGPS Group extends its contract with a big US-based electric utility and announced procuring record orders in Q4 FY21.

New Zealand’s stock exchange is continuously marked with the latest announcements and releases from the companies pertaining to various sectors.

These updates keep the investors, traders, as well as stakeholders, notified about the latest developments in the market, which result in fluctuations in stock prices.

A careful analysis helps in taking the right decision of either buying or selling the stocks. Also, the companies go for press releases and declarations in order to attract potential investors towards its stocks as well as gives knowledge to the existing investors about its policies and plans.

Source: Copyright © 2021 Kalkine Media Pty Ltd

Now, let us have a look at the 5 NZX stocks that are bustling with the latest company highlights.

Australia and New Zealand Banking Group Limited

Australia and New Zealand Banking Group Limited (NZX:ANZ; ASX:ANZ) announced that it would pay its interim dividend for 2021 in 3 currencies i.e. the AU Dollar, the UK Sterling and the NZ Dollar.

If any shareholder wants to change the currency in which dividend payment is being made, he is mandated to fill a direct credit form and submit the same before 12 May 2021.

On 6 May, at the time of writing, Australia and New Zealand Banking Group was trading up by 0.03% at NZ$30.330.

Must Read: ANZ slashes variable mortgage rates by up to 90bps

Pacific Edge Limited

Pacific Edge Limited (NZX:PEB) provided an update on appointing a new Chief Operating Officer, Demi Stefanova, who would take charge from 21 June 2021.

With this announcement, the Company aims to strengthen its senior leadership as it continues to focus on business expansion.

On 6 May, at the time of writing, Pacific Edge was trading flat at NZ$1.150.

Also Read: Why Are These 5 NZX Stocks Drawing Investors’ Attention Today- FPH, SEK, PEB, FWL, AFT

AFT Pharmaceuticals Limited

AFT Pharmaceuticals Limited (NZX:AFT; ASX:AFP) announced that based on its agreement with Pharma Bavaria International signed in 2020, the Company has now extended its Maxigesic IV license to the South American countries like Colombia, Peru, Chile, Ecuador, Bolivia, and Uruguay, thus, expanding its markets into 17 countries of the Latin America and the Caribbean.

It is pointed out that Maxigesic IV comprises Paracetamol 1000mg and Ibuprofen 300mg solution for infusion in situations when the patients cannot consume an oral medicine.

Dr. Hartley Atkinson, AFT’s Chief Executive, stated that as per reports, Latin American markets particularly for pain management medicines would rise continuously at an average rate of 3.5% a year till 2027.

On 6 May, at the time of writing, AFT Pharmaceuticals Limited was trading up by 0.83% at NZ$4.840.

Do Read: Why Are These 5 NZX Stocks Drawing Investors’ Attention Today- FPH, SEK, PEB, FWL, AFT

Fonterra Co-operative Group Limited

Fonterra Co-operative Group Limited (NZX:FCG) notified that a trading halt had been placed on the Company’s shares w.e.f. 5 May 2021 to until the opening up of the market on 7 May 2021.

FCG requested a trading halt prior to an announcement for the proposed change in its capital structure as it seeks investors' feedback on the same.

Nonetheless, the Company continues to enjoy a robust financial position and the above announcement would not act as a hindrance to its operations.

Fonterra Co-operative Group last traded on 5 May 2021 at NZ$4.560.

Did You Read; Fonterra Clarifies Earnings Guidance

ikeGPS Group Limited

ikeGPS Group Limited (NZX:IKE; ASX:IKE) has extended its contract with a US-based Fortune 100 electric utility. The value of the agreement is nearly NZ$1.9 million and its extension would generate an additional revenue of NZ$1.2 million in FY22 for IKE.

The Company also declared that Q4 FY21 witnessed record contracts amounting to NZ$5.4 million. Also, IKE boasts of an impressive annual revenue for FY21, which is nearly NZ$9.3 million.

On 6 May, at the time of writing, ikeGPS Group was trading flat at NZ$0.98.

Must Read: New Zealand’s 6 Most Discussed Stocks - AFT, ZEL, FCG, IKE, SAN, AMP

Disclaimer

Speak your Mind

Featured Articles

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