tmmonline.nz  |   landlords.co.nz        About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds

NZ's Financial Adviser News Centre

GR Logo close ad
tmmonline.nz  |   landlords.co.nz        About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds

NZ's Financial Adviser News Centre

GR Logo
Last Article Uploaded: Tuesday, October 26th, 10:21AM

Investments

rss
The Markets

FP Healthcare props up share market

A share price spike for Fisher & Paykel Healthcare papered over weakness in the wider market with the majority of share still in decline.

Thursday, April 22nd 2021, 7:26PM

by BusinessDesk

The S&P/NZX 50 Index rose 42.14 points, or 0.3%, to 12,577.48. Within the index, 25 stocks fell, 14 rose and 11 were unchanged. Turnover was $126 million.

Global market sentiment appeared to have “perked up” overnight without any obvious drivers, said BNZ interest rate strategist Nick Smyth.

“After two straight down days, equity markets have rebounded overnight, with the market still seemingly in ‘buy the dip’ mode”, he said.

The NZ market followed the decline yesterday but only bounced today due to a huge share price jump for Fisher & Paykel Healthcare which rose 4.2% to $34.40 on a lighter-than-usual volume.

Chorus and Kathmandu Holdings both had strong gains, up 2.3% at $6.68 and $1.39, respectively.

Tourism Holdings today told investors it expects its net loss for the full year 2021 will be between $14m to $18m, significantly lower than an average analyst estimate of $21.5m. Its share price rose 1.9% to $2.75.

The NZ rental vehicle business will remain loss-making without international tourist, however, the company said there had been an increase in web search activity with the opening of the trans-Tasman travel bubble.

“We expect that this will convert to increased forward bookings as travellers continue through the holiday planning cycle,” they said in a note.

A2 Milk Company dropped 1% to $8.23 after Australian share broker Morgans hacked more than $2 from its target price and warned a fourth earnings downgrade was possible.

An analyst said industry feedback suggests there has been no improvement in the operating environment and increased competition from Chinese companies was adding to the pressure.

Eroad climbed 1.6% to $5.64 after Jarden said signs of recovery in the US was encouraging for the fleet services provider. The broker raised its target price to $5.49, from $4.90.

“We believe valuation upside is significant if Eroad can demonstrate stronger traction in its offshore markets over the mid-term,” an analyst wrote.

QEX Logistics said it will try to delist from the NZX as it is unable to replace the independent directors who resigned in February.

The infant formula exporter was suspended from trading in mid-February as it does not meet the listing rules without independent shareholder representatives on its board.

The kiwi dollar was trading at 71.90 US cents at 5pm in Wellington, up from 71.72 cents yesterday.

The trade-weighted index was at 74.88 at 5pm, from 74.81 yesterday. The kiwi traded at 92.84 Australian cents from 92.96 cents, 77.65 yen from 77.46 yen, 59.74 euro cents from 59.61 cents, 51.60 British pence from 51.47 pence, and 4.6595 Chinese yuan from 4.6575 yuan.

Tags: Market Close

« Covid hits sharemarket - againNZ shares rise; A2 Milk slumps »

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

MORE NEWS»

Most Commented On
Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
AIA 4.55 ▲3.25 ▲3.75 ▲3.99
ANZ 4.59 ▲3.84 ▲4.30 ▲4.54
ANZ Blueprint to Build 1.68 - - -
ANZ Special - ▲3.24 ▲3.70 ▲3.94
ASB Back My Build 2.04 - - -
ASB Bank 4.45 ▲3.25 ▲3.75 ▲3.99
Basecorp Finance 5.49 - - -
Bluestone 3.49 3.34 2.99 3.34
BNZ - Classic - ▲3.24 ▲3.79 ▲3.99
BNZ - Mortgage One 5.15 - - -
BNZ - Rapid Repay 4.60 - - -
Lender Flt 1yr 2yr 3yr
BNZ - Std, FlyBuys 4.70 ▲3.84 ▲4.39 ▲4.59
BNZ - TotalMoney 4.70 - - -
CFML Loans 5.15 - - -
China Construction Bank 4.49 4.70 4.80 4.95
China Construction Bank Special - 2.65 2.65 2.80
Credit Union Auckland 5.95 - - -
Credit Union Baywide 5.65 3.95 3.85 -
Credit Union South 5.65 3.95 3.85 -
First Credit Union Special 5.85 2.95 3.45 -
Heartland Bank - Online 2.25 1.85 2.35 2.65
Heretaunga Building Society 4.99 3.80 3.90 -
Lender Flt 1yr 2yr 3yr
HSBC Premier 4.49 2.19 2.45 2.69
HSBC Premier LVR > 80% - - - -
HSBC Special - 2.25 - -
ICBC 3.69 2.45 2.85 3.15
Kainga Ora 4.43 2.88 3.28 3.59
Kainga Ora - First Home Buyer Special - 2.25 - -
Kiwibank 4.00 ▲4.14 ▲4.44 ▲4.84
Kiwibank - Offset 4.00 - - -
Kiwibank Special 3.75 ▲3.29 ▲3.59 ▲3.99
Liberty 5.69 - - -
Nelson Building Society 4.95 2.99 3.24 -
Lender Flt 1yr 2yr 3yr
Pepper Essential 4.79 - - -
Resimac 3.39 2.98 2.79 3.29
SBS Bank 4.54 3.05 3.45 3.75
SBS Bank Special - 2.55 2.95 3.25
Select Home Loans 3.49 3.34 2.99 3.34
The Co-operative Bank - First Home Special - ▲2.79 - -
The Co-operative Bank - Owner Occ 4.55 ▲2.99 ▲3.60 ▲3.89
The Co-operative Bank - Standard 4.55 ▼3.49 ▲4.10 ▲4.39
TSB Bank 5.34 ▲3.75 ▲4.20 ▲4.44
TSB Special 4.54 ▲2.94 ▲3.40 ▲3.64
Wairarapa Building Society 4.99 3.55 3.49 -
Lender Flt 1yr 2yr 3yr
Westpac 4.84 ▲3.79 ▲4.39 ▲4.59
Westpac - Offset 4.84 - - -
Westpac Special - ▲3.19 ▲3.79 ▲3.99
Median 4.57 3.24 3.60 3.94

Last updated: 26 October 2021 9:14am

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