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Highlights
- Protestors continue to gather around the NZ Parliament lawns to oppose COVID-19 vaccine mandates and other issues.
- SkyCity Entertainment Group was the highest traded stock of the day.
- Pushpay Holdings, Spark New Zealand and Kathmandu were other active stocks on the NZX.
Protests against the COVID-19 vaccine mandate have entered into their second week.
As per the latest reports, hundreds of protestors have gathered outside the NZ Parliament, ignoring repeated calls by the police to vacate the premises.
Moreover, many protesters have blocked many streets around the Parliament with their motorcycles, vans and trucks.
Earlier, demonstrations were directed towards ending vaccine mandates, but now these groups are demanding to put an end to COVID-19 restrictions, the rejection of vaccinations as well as drawing attention to other issues like censorship and rights of the Maori community.
Amid all the chaos, NZ’s stock market remained unperturbed as some of its popular stocks were highly active during the day.
Having said that, let us take a glance at the four most traded stocks on the NZX today.
Source: © 2022 Kalkine Media® data source- EODHD/Others
SkyCity Entertainment Group Limited (NZX:SKC; ASX:SKC)
SkyCity Entertainment Group Limited was the most active stock on the NZX today, with a trade volume of 3,018,533.
Today, the Company had published its 1H22 performance ended 31 December 2021, posting a reported revenue and reported EBITDA at NZ$289.8 million and NZ$20.4 million, respectively, both down on 1H21, owing to significant impacts by the ongoing pandemic.
However, SKC benefitted from cost and capital saving strategies being implemented during 1H22, which gave a boost to its balance sheet.
Further, the Company has implemented a flexible operating model with the changed traffic light settings, emphasising gaming-led recovery, thus focusing on enhanced customer experiences.
At the end of the trading session, on 14 February, SKC dipped by 3.65% at NZ$2.900.
Pushpay Holdings Limited (NZX:PPH)
Pushpay Holdings Limited was the second most traded stock of the day, with 2,733,704 as its trading volume. A few days back, the Company had disclosed that FMA had accused two individuals of alleged insider trading in the event of trading of shares on the NZX in 2018.
Do Read: Pushpay Holdings (NZX:PPH): Why has FMA alleged insider trading over its shares sale?
PPH is cooperating with the financial watchdog during the investigation and has stated that it had robust policies and procedures related to share trading practices and takes its market responsibilities seriously.
At the end of the trading session, on 14 February, PPH dropped by 4.85% at NZ$0.980.
Spark New Zealand Limited (NZX:SPK; ASX:SPK)
Another stock that was highly agile during the day was Spark New Zealand Limited, with a trading volume of 1,833,482.
Interesting Read: What is Spark New Zealand's (NZX:SPK) latest acquisition all about?
The Company will release its H1 FY22 results on 23 February, followed by a teleconference for investors and analysts, which will be hosted by SPK's Chief Executive and Finance Head.
At the end of the trading session, on 14 February, SPK was down by 1.57% at NZ$4.400.
Kathmandu Holdings Limited (NZX:KMD; ASX:KMD)
Kathmandu Holdings Limited also reported high trade volumes during the day, at 1,492,836 shares. Recently, the specialist outdoor retailer provided its trading guidance for the initial half-year ended 31 January 2022.
It has forecasted a 1H FY22 EBITDA to be between NZ$9 million to NZ$11 million, underpinned by strong Q2 results as a result of the global diversification strategy.
Further, its Group wholesale sales for the said period are likely to be up by 3.4% on the prior year, with an impressive Rip Curl wholesale sales of over 18%, offsetting deceased Oboz sales.
It is noted that KMD will publish its full-year performance on 23 March.
At the end of the trading session, on 14 February, KMD traded flat at NZ$1.410.
Bottom Line
A snapshot of active stocks reflects market trends and investors' sentiments and may be driven by news development like positive company announcements, favourable government policy, etc.