Why are financial services essential? A look at 5 related stocks

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Why are financial services essential? A look at 5 related stocks

 Why are financial services essential? A look at 5 related stocks
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The financial services sector is the segment that comprises of companies and institutions like lenders, banks, investment houses etc, who provide financial services to their customers.

The financial sector's efficiency is crucial to the economy's overall health. The stronger the economy, the safer the country becomes. A poor financial sector usually accompanies a deteriorating economy. A healthy financial sector is essential for a healthier economy.

Source: Copyright © 2021 Kalkine Media

Amid this backdrop, let’s look at how these 5 financial stocks are performing.

Heartland Group Holdings Limited (NZX:HGHASX:HGH)

On 9 July, Heartland Group announced that its subsidiary Heartland Australia Group Pty Limited finalised a senior bond issue of A$45 million that are unsecured. This is the 5th issue under the subsidiary’s medium-term note programme, taking the aggregate outstanding issues to A$265 million.

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The move is significant for the Heartland Group in capital markets and will add further diversity to its funding ground.

On 30 July, HGH ended the trading session flat at $2.05.

General Capital Limited (NZX:GEN)

General Capital released its 2021 annual report on 30 June. GEN recorded a 33% increase in total assets despite the obstacles created by the COVID-19 pandemic. With bank deposits of NZ$10.3 million and a healthy balance sheet, the company is primed for substantial expansion, as per managing director Brent King.

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The Group expects to hold its AGM in late August 2021.

On 30 July, GEN ended the trading session flat at $2.05.

Southern Charter Financial Group Limited (NZX:SNC)

Southern Charter released its annual report for 2021 on 30 June.  The firm reported a net loss attributable to shareholders of $117,616 for the year, compared to $159,877 for the previous year. The Group has significant cash resources and has a focus on finding an appropriate business opportunity to invest in/acquire.

On 30 July, SNC ended the trading session flat at $0.008.

Harmoney Corp Limited (NZX:HMY)

Harmoney reported a 144% rise in its total new originations in H2 of FY21 with a 260% rise in Australian new customers originations to $47 million in the period. Total group originations stood at $250 million in H2 FY21 compared to $193 million in H1.

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The business stated that group receivables are expected to rise at a much faster rate in the coming financial year.

On 30 July, HMY ended the trading session flat at $2.17, down 4.82% from the previous close.

Barramundi Limited (NZX:BRM)

Barramundi witnessed a good June quarter. It reported gross performance of 10.5% and an adjusted NAV return of 9.9% for the quarter, ahead of the ASX200 index returning 7.9%.

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Concerns over increasing inflation, which had driven market mood in the first three months of the year, subsided in the June quarter. With the stabilisation of interest rates, the earlier year's rotation in sector leadership, in which value stocks beat growth stocks, reversed.

On 30 July, BRM ended the trading session flat at $1.03, up 1.98% from the previous close.

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


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