About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds Other Sites:   tmmonline.nz  |   landlords.co.nz
Last Article Uploaded: Thursday, December 13th, 6:16PM
rss
The Markets

NZ shares climb as NZX50 gains 4.3% in September quarter

New Zealand shares rose in the final day of the quarter, led higher by blue-chip stocks such as Spark New Zealand and Ryman Healthcare.

Friday, September 28th 2018, 7:08PM

by BusinessDesk

The S&P/NZX 50 gained 64.66 points or 0.7 percent, to 9,351.06. Within the index, 28 stocks rose, 12 fell and 10 were unchanged. Turnover was $182 million.

The benchmark index rose 4.3 percent in the quarter, following a 7.5 percent gain in June. So far this year the NZX 50 is up 11 percent, outperforming its peers across Asia.

"It's not bad - nowhere near as good as the previous quarter which was a very good performance for a three-month period," said Grant Williamson, a director at Hamilton Hindin Greene. "We're just mucking around at historic highs - it will be interesting to see whether we make new highs in the new quarter."

Blue-chip stocks led the market higher today in the final session of the September quarter, which typically sees institutional investors adjusting their portfolios.

"There will be some squaring up of positions so we might see a little selling on Monday," Williamson said.

Ebos Group was the strongest performer in the September quarter, up 25 percent to $22.46. That includes a 0.9 percent gain today. Ryman Healthcare rose 2.6 percent to $14 today, and has gained 17 percent in the quarter. Spark led the market higher, up 3.1 percent to $4.05 and climbed 8.4 percent in the quarter.

Westpac Banking Corp gained 2.6 percent to $30.95 and Australia & New Zealand Banking Group advanced 1.8 percent to  $30.90 after Royal commissioner Kenneth Hayne's interim report into the Australian banking sector didn't make any recommendations and instead argued for stronger enforcement of existing law.

Infratil rose 1.7 percent to $3.565 after the company raised its earnings guidance on the performance of its Longroad Energy business in the US.

Mercury NZ increased 0.8 percent to $3.365 after chief executive Fraser Whineray told shareholders the power companies are working to find options for customers struggling with their bills, and that government intervention needs to avoid harming the industry.

Fletcher Building gained 0.8 percent to $6.54 after government data showed Auckland residential building permits were at an annual record in August.

A2 Milk Co fell 2.5 percent to $11.26, continuing its decline since CEO Jayne Hrdlicka disclosed a share sale.

Outside the benchmark, Orion Health Group rose 0.9 percent to $1.08. The software company held its annual meeting today where shareholders voted on whether to approve carving up the company and signing off on a capital return. The final results haven't been published but the proxies indicated it would get over the line.

Pyne Gould Corp was unchanged at 33 cents after indicating it planned to quit the NZX in favour of a listing in its home domicile of Guernsey.

Hallenstein Glass rose 4.1 percent to $5.85 after affirming a 58 percent gain in annual profit and saying sales rose 7.2 percent in the first two months of trading in the new year.

Foley Family Winds was unchanged at $1.45 after extending its timeframe to complete its purchase of Mt Difficulty Wines.

Cavalier Corp was unchanged at 61 cents after confirming the sale of its stake in a wool scouring business for $13.5 million. The company's board will be seeking an increase in the pool for directors' fees at its upcoming annual meeting.

AFT Pharmaceutical gained 0.9 percent to $2.22 after saying its Maxigesic painkiller is now licensed in the Russian Federation. It expects sales to start in the 2020 financial year. It also secured new partners in Hong Kong and Taiwan.

Tags: Market Close

« NZ shares fall as A2 extends decline, property stocks lose shineNZ shares fall as Spark, Ryman give up recent gains in quiet trading »

Special Offers

Comments from our readers

No comments yet

Sign In to add your comment

 

print

Printable version  

print

Email to a friend
News Bites
Latest Comments
Subscribe Now

AM Update - Your morning business news update

Previous News
Most Commented On
Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
ANZ 5.79 4.55 4.79 4.99
ANZ Special - 4.05 4.29 4.49
ASB Bank 5.80 4.44 4.69 4.89
ASB Bank Special - 3.95 4.29 4.49
BNZ - Mortgage One 6.50 - - -
BNZ - Rapid Repay 5.95 - - -
BNZ - Special - 4.10 4.29 4.49
BNZ - Std, FlyBuys 5.90 4.69 4.79 4.99
BNZ - TotalMoney 5.90 - - -
Credit Union Auckland 6.70 - - -
Credit Union Baywide 6.15 5.20 5.25 -
Lender Flt 1yr 2yr 3yr
Credit Union North 6.45 - - -
Credit Union South 6.45 - - -
Finance Direct - - - -
First Credit Union 5.85 - - -
Heartland 6.70 7.00 7.25 7.85
Heartland Bank - Online - - - -
Heretaunga Building Society 5.75 4.70 4.85 -
Housing NZ Corp 5.80 4.69 4.79 4.79
HSBC Premier 5.89 3.99 4.19 4.69
HSBC Premier LVR > 80% - 3.79 - -
HSBC Special - - - -
Lender Flt 1yr 2yr 3yr
ICBC 5.80 4.59 4.69 5.09
Kiwibank 5.80 4.55 4.69 4.99
Kiwibank - Capped - - - -
Kiwibank - Offset 5.80 - - -
Kiwibank Special - 4.05 4.29 4.49
Liberty 5.69 - - -
Napier Building Society - - - -
Nelson Building Society 6.10 5.10 5.45 -
Resimac 5.30 4.86 4.94 5.30
RESIMAC Special - - - -
SBS Bank 5.89 4.85 5.05 4.49
Lender Flt 1yr 2yr 3yr
SBS Bank Special - 4.19 3.95 4.49
Sovereign 5.90 4.45 4.69 4.89
Sovereign Special - 3.95 4.29 4.49
The Co-operative Bank - Owner Occ 5.75 4.10 4.35 4.49
The Co-operative Bank - Standard 5.75 4.60 4.85 4.99
TSB Bank 5.80 4.45 4.69 4.99
TSB Special - 3.95 4.19 4.49
Wairarapa Building Society 5.70 4.85 4.99 -
Westpac 5.95 4.69 4.79 5.19
Westpac - Offset 5.95 - - -
Westpac Special - 4.15 4.29 4.59
Median 5.89 4.50 4.69 4.79

Last updated: 2 December 2018 8:39pm

News Quiz

The maximum remuneration model for Australian life insurance advisers is to be set at what?

Upfront 40% + trail 20%

Upfront 50% + trail 10%

Upfront 50% + trail 20%

Upfront 60% + trail 10%

Upfront 60% + trail 20%

MORE QUIZZES »

About Us  |  Advertise  |  Contact Us  |  Terms & Conditions  |  Privacy Policy  |  RSS Feeds  |  Letters  |  Archive  |  Toolbox
 
Site by Web Developer and eyelovedesign.com