Here are the key things you need to know about in the NZX markets over the past 24 hours. Changes are as at 3:05 pm and may change when the market closes at 4:45 pm.
WHAT THE NZX50 IS DOING
The NZX50 had dropped -0.9% from Friday where the NZX50 saw its highest weekly gain in four years.
THE MAIN GAINERS
There were 76 gainers today. Today’s biggest gainer in the NZX50 is Manawa Energy (MNW, #24) up +3.3%. Followed by Heartland Group Holdings up +1.8% (HGH, #34). Outside of the NZX50 Greenfern Industries (GFI) is up +30% for the day, although they’re down -53% on a year on year basis. Another outsider is Being AI Limited (BAI) with a gain of 20%.
THE MAIN DECLINERS
There were 62 decliners today. A2 Milk Company (ATM, #10) is down 18% today, their annual report was also released today. The second biggest loss is number #11 on the NZX50, Port of Tauranga (POT) down -3.0% today. EROAD Limited (ERD) removed from the NZX50 in the last quarter of 2020 is down -8.6%.
THE KEY ANNOUNCEMENTS
SkyCity Entertainment Group (SKC, #26) announced today that they have finalized their agreements to extend NZ$465 million of debt facilities. The three maturities at offer are three, four, and seven years and will be using a combination of its United States Private Placement (USPP) programme and their syndicated credit facility.
The NZX50’s leader Fisher and Paykel Healthcare (FPH, #1) appointed a new member to the Board, Mark Cross has now been appointed as a non-executive Director. This fills the gap in the Board as the Chairman Scott St John is set to retire at the end of August.
THE ANNUAL REPORTS RELEASED
There were three annual reports released today:
7 Comments
A2 Milk Company (ATM, #10) is down 18% today
Last week, Granny ran a puff piece on A2M telling its audience how great everything was going.
A post-pandemic boom in marriages in China is showing signs of running out of steam, but Craigs Investment Partners said it still expects a2 Milk to come up with a strong annual result.
The following is also nonsense. A2 is not among the leading IMF brands in China. DYOR.
Despite the headwinds, a2 Milk has rebounded to a point where it is now one of the top five brands in China.
https://www.nzherald.co.nz/the-country/news/against-the-odds-a2-milk-se…
We welcome your comments below. If you are not already registered, please register to comment.
Remember we welcome robust, respectful and insightful debate. We don't welcome abusive or defamatory comments and will de-register those repeatedly making such comments. Our current comment policy is here.