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

NZ's Financial Adviser News Centre

GR Logo
Obituary - Highly respected adviser moves on READ ON Dismiss
Last Article Uploaded: Saturday, September 25th, 8:04AM

Investments

rss
The Markets

NZ shares fall as nervy investors wait on RBNZ

New Zealand shares generally declined as investors prepared themselves for earnings results and a monetary policy statement from the Reserve Bank of New Zealand next week.

Thursday, August 12th 2021, 6:36PM

by BusinessDesk

The S&P/NZX 50 Index fell 66.26 points, or 0.5%, to 12,681.81. Turnover was $255 million.

Fisher & Paykel Healthcare led the market lower for a second day, as the index’s biggest stock fell another 2.8% to $30.90.

The stock has fallen more than 6% this week but is still trading in its normal range, albeit near a one month low.

Head of research at Fat Prophets, Greg Smith, said it was hard to pick a trend with a big news week approaching next week.

“The market is braced for interest multiple rate hikes from next week, so there are definitely some nerves there,” he told BusinessDesk.

Earnings results will also start flowing in from a number of listed companies, although Smith said investors will be mostly interested in the commentary about future earnings.

“There will be a lot of interest in outlook statements, but not so much in the other parts,” he said.

Travel stocks saw little reaction to the government’s plan to cautiously reopen the borders throughout 2022, which will allow quarantine-free travel for vaccinated people from low-risk countries.

People travelling from medium risk countries may be permitted to self-isolate at home, or have a shorter stay in a managed isolation facility.

Shares in Auckland Airport rose 1% to $7.23 and Tourism Holdings climbed 0.4% to $2.40, but Air New Zealand fell 0.7% to $1.47.

Smith said while these companies would welcome progress on border reopening, it effectively pushes the timeline back from most scenarios they had imagined.

“Reopening has been pushed well into 2022, as the delta variant has turned timelines on their heads,” he said.

Shares in AMP jumped 5.4% to $1.18 after the financial services company reported a first half underlying net profit of A$181 million up from A$115m last year.

Statutory net profit was less impressive at A$146m down from A$203m last year, but it excludes earnings from AMP Life which has been sold.

Vista Group International continued to bounce around, today posting its biggest recent gain up 4.4% at $2.39.

The kiwi dollar was trading at 70.34 US cents by 3pm in Wellington, up from 70.06 cents yesterday.

The trade-weighted index was at 74.78 at 3pm, from 74.58 yesterday. The kiwi traded at 95.50 Australian cents from 9541 cents, 77.62 yen from 77.51 yen, 59.92 euro cents from 59.78 cents, 50.71 British pence from 50.67 pence, and 4.5549 Chinese yuan from 4.5412 yuan.

Tags: Market Close

« F&P Healthcare sucks life out of marketNZ shares up as investors ignore uncertainty »

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 2.85 3.25 3.55
ANZ 4.44 3.20 3.59 4.00
ANZ Blueprint to Build 1.68 - - -
ANZ Special - 2.60 2.99 3.40
ASB Back My Build 1.79 - - -
ASB Bank 4.45 2.85 3.25 3.55
Basecorp Finance 5.49 - - -
Bluestone 3.49 3.34 2.99 3.34
BNZ - Classic - ▲2.85 ▲3.25 ▲3.55
BNZ - Mortgage One 5.15 - - -
BNZ - Rapid Repay 4.60 - - -
Lender Flt 1yr 2yr 3yr
BNZ - Std, FlyBuys 4.55 ▲3.45 ▲3.85 ▲4.15
BNZ - TotalMoney 4.55 - - -
CFML Loans 4.95 - - -
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 2.35 2.75 3.05
Kainga Ora 4.43 2.88 3.28 3.59
Kainga Ora - First Home Buyer Special - 2.25 - -
Kiwibank 3.75 ▲3.80 ▲4.00 4.34
Kiwibank - Offset 3.75 - - -
Kiwibank Special 3.75 ▲2.95 ▲3.15 3.49
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 2.99 3.39 3.59
SBS Bank Special - 2.49 2.89 3.09
Select Home Loans 3.49 3.34 2.99 3.34
The Co-operative Bank - First Home Special - ▲2.65 - -
The Co-operative Bank - Owner Occ 4.40 ▲2.85 ▲3.25 ▲3.49
The Co-operative Bank - Standard 4.40 ▲3.35 ▲3.75 ▲3.99
TSB Bank 5.34 3.35 3.75 4.05
TSB Special 4.54 2.55 2.95 3.25
Wairarapa Building Society 4.99 3.55 3.49 -
Lender Flt 1yr 2yr 3yr
Westpac 4.59 ▲3.45 ▲3.85 4.09
Westpac - Offset 4.59 - - -
Westpac Special - ▲2.85 ▲3.25 3.49
Median 4.54 2.95 3.25 3.49

Last updated: 23 September 2021 8:11am

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