Top 20 NZX trades by Sharesight users – July 2023
Welcome to the July 2023 edition of Sharesight’s monthly NZX trading snapshot, where we look at the top 20 trades Sharesight users made on the NZX during the month.
In this snapshot, trades were strongly led by Smartshares’ US 500 (NZX: USF) and NZ Top 50 (NZX: FNZ) ETFs. In terms of individual stocks, trades were led by Infratil (NZX: IFT), which recently announced its plan to acquire a majority stake in Console Connect. Overall, this month’s top trades were dominated by ETFs, with 15 of the top 20 trades consisting of ETFs.
Top 20 NZX trades July 2023
Let’s look at the news behind the key stocks in this month’s snapshot:
Infratil (NZX: IFT)
- Infratil shares falter along with other NZX 50 stocks due to growing caution amid inflationary pressures
- Infratil plans to acquire 80% stake in Console Connect
- Plans to use cash from newly-acquired One NZ to invest across key growth platforms
Mainfreight (NZX: MFT)
- Mainfreight reveals plummeting pre-tax earnings in Q1 results
- Announces hiring freeze due to challenging economic conditions
- Shares drop as Mainfreight warns of slowing economy
Air NZ (NZX: AIR)
- Air NZ’s forecast pre-tax profit could make NZ corporate history, says analyst
- Air NZ now facing strong competition from Australian and US rivals
- Auckland Airport upgrade woes sour relationship with Air New Zealand
Spark NZ (NZX: SPK)
- Spark and Lynk team up to make first satellite-to-standard phone voice call
- Spark hires regulatory and strategy leader
- Customers threaten to boycott Spark over company’s support of transgender activist
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