About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds Other Sites:   tmmonline.nz  |   landlords.co.nz
Last Article Uploaded: Friday, December 14th, 6:30PM
rss
The Markets

NZ stocks fall on renewed Brexit uncertainty, dividend payouts

New Zealand shares fell as Brexit worries and a lack of earnings news let investors with a lack of direction. Three top-50 stocks also went ex-dividend today.

Friday, November 16th 2018, 5:25PM

by BusinessDesk

The S&P/NZX 50 index fell 16.19 points, or 0.2 percent, to 8,809.70. Within the index, 23 stocks fell, five were unchanged and 22 rose. Turnover was modest at $90.1 million.

US stocks rose as investors bet the risks of slower growth are fully priced in after five days of declines. The political fall-out increased in the UK from draft Brexit deal, while mixed signals continued on the prospects of meaningful trade talks between the US and China in Argentina at the end of the month.

The Dow Jones Industrial Average rose 0.8 percent and the S&P 500 Index rose 1.1 percent. In Australia, the S&P/ASX 200 index was recently up 0.3 percent.

Bryon Burke, head of equities at Craigs Investment Partners, said intra-day ranges in the US markets remain high and that is a sign of uncertainty.

While the US has its own issues, the Brexit debate is getting a lot of attention here. It may not have immediate impacts on New Zealand but it does have big implications for Europe and will ultimately affect all markets, he said.

“I’m guessing the Asians don’t think about it that much, but it does affect money flows around the world.”

Spark New Zealand was again the heaviest traded stock today with almost 3.2 million shares changing hands, up slightly on the daily average for the past three months. It rose 0.6 percent to $4.20.

The only other top-50 stocks to better a million shares traded were Fletcher Building and A2 Milk Co.

Fletcher Building rose 0.7 percent from a seven-month low to $5.67. Almost 1.9 million shares changed hands, nearly 60 percent more than average.

A2 Milk rose 0.3 percent to $10.17. Almost 1.6 million shares were traded.

Outdoor clothing and equipment maker Kathmandu was the biggest decliner today after going ex an 11-cent final dividend. The stock fell 7.8 percent to $2.61.

Ryman Healthcare fell 4 percent to $11.42 on light volume.

Market operator NZX was the biggest gainer, up 2 percent at $1.04. The company today said it signed up its first customer for its wealth technologies platform.

Meridian Energy and Pushpay Holdings each rose 1.6 percent to $3.24 and $3.25 respectively.

Pushpay is to be added to the MSCI small cap index at the end of the month. Freightways, which is making room for Pushpay in that index, rose 0.9 percent to $7.09, having plunged 6 percent on Wednesday when the change was announced.

Mainfreight rose for a third day, up 0.2 percent at $31.05, after delivering a better-than-expected 32 percent increase in first-half profit to $55.7 million on Wednesday.

Burke said Mainfreight is now a truly international business and is possibly still cheap on a comparative basis.

Precinct Properties NZ fell 0.4 percent to $1.41 as entitlements ended to its 1.5 cent interim dividend. Property for Industry fell 0.6 percent to $1.70 as entitlements ended to its 1.85 cent interim dividend.

Refining NZ fell 1.3 percent to $2.34. The country’s sole oil refiner said it’s not expecting a material impact from tight natural gas supplies given its ability to use other fuels in its processing.

Tags: Market Close

« NZ stocks mixed as global worries weigh on local newsNZ shares dip as trade war fears linger »

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