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: Monday, May 16th, 7:04PM

Investments

rss
The Markets

Travel stocks jump on hastened border opening

New Zealand shares were generally flat on Monday with travel stocks climbing after the prime minister signalled the border would open to tourists ahead of schedule.

Monday, March 14th 2022, 6:10PM

by BusinessDesk

The S&P/NZX 50 Index fell 22 points, or 0.19%, to 11,805.11. Turnover was $128 million.

Vista Group International led the decline, falling 3.4% to $1.69, followed by Restaurant Brands which dropped 2.8% to $13.85.

Fisher & Paykel Healthcare also weighed down the index, declining almost 1% to $26.88.

The market was a mixed bag of gainers and decliners, but travel stocks performed well on expectations NZ’s border settings would be significantly relaxed this week. 

Prime minister Jacinda Ardern said today she would announce changes to NZ’s border rules on Wednesday this week.

Ardern said in an interview the reopening dates set out earlier this year could be “brought forward” as we may be nearing the peak of the omicron outbreak.

This would be good news for listed companies that are waiting for tourists to return to the country and bolster their revenues.

Tourism Industry Aotearoa said it was “heartened” by the possibility of the borders opening sooner and expected to see a timeline “imminently”.

Tourism Holdings jumped 5.3% to $2.60 today, Auckland International Airport was up 0.7% at $7.19, and Air New Zealand was flat at $1.41.

Other companies with travel exposure also made gains, Millennium & Copthorne Hotels was up 3.2% at $2.28 and travel booking software company Serko climbed 1.3% to $4.77.

Serko today said it had limited exposure to the Ukraine crisis in Europe and booking volumes hadn’t been significantly affected.

Since February, Australian booking volumes had increased to be 60% of 2019 levels but NZ volumes had remained suppressed, it said. Booking.com volumes had continued to grow.

Shares in Z Energy jumped 1.1% to $3.67 after Ampol sold the Gull service station network to a private equity buyer, clearing the path for its acquisition of Z.

Sanford shares leapt 3.5% to $4.77 after family-owned investment company Masfen Group disclosed it had bought 1.2 million shares in the past three months, bringing its stake to 7.5%.

The kiwi dollar fell over the weekend, dropping to 68.03 US cents at 3pm in Wellington, from 68.61 cents on Friday.

The US dollar has gained ground on the expectation there will be six or seven rate hikes from the Federal Reserve this year, as it attempts to fight inflation.

Tina Teng, a markets analyst at CMC Markets, said Asian markets were expected to remain volatile ahead of the Federal Reserve meeting later this week.

“Rising commodity prices, flaring inflation, geopolitical tensions and central banks’ hawkish policy guidance have put risky assets on the fringe, with the S&P 500 falling for the second consecutive week and the Dow Jones Industrial Average falling for the fifth consecutive week,” she said.

Teng said the dollar was a risk haven currency amid the Ukraine crisis and was being supported by the Fed’s hawkish policy guidance. It is up about 3% since the war started.

Tags: Market Close

« Inflation hacks share pricesPumping oil prices stall market »

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
  • Brian Gaynor dies
    “RIP - a true icon and such a humble person who helped so many....”
    13 hours ago by p simone
  • Brian Gaynor dies
    “Very sad. Condolences to him family....”
    14 hours ago by sanet.drury@gmail.com
  • Brian Gaynor dies
    “Brian was someone you would always go and listen to if he was presenting at a seminar or conference, someone you would always...”
    14 hours ago by MikeBeuvink
  • Brian Gaynor dies
    “A true champion of the industry. My sincere condolences to family, colleagues and friends. ...”
    14 hours ago by Pragmatic
  • [GRTV] AIA rolls out direct life insurance plans
    “Thanks Lifeadviser1, and it is great to see you have been having a play in the system. You are right, in the original...”
    17 hours ago by Sam.Tremethick
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
AIA 5.35 4.49 5.25 5.55
ANZ 5.54 5.15 5.85 6.15
ANZ Blueprint to Build 2.78 - - -
ANZ Special - 4.55 5.25 5.55
ASB Bank 5.35 4.49 5.25 5.55
Avanti Finance 5.45 - - -
Basecorp Finance 6.45 - - -
Bluestone 5.29 7.49 7.59 -
BNZ - Classic - 4.55 5.25 5.45
BNZ - Mortgage One 5.55 - - -
BNZ - Rapid Repay 5.55 - - -
Lender Flt 1yr 2yr 3yr
BNZ - Std, FlyBuys 5.55 5.35 5.94 5.99
BNZ - TotalMoney 5.55 - - -
CFML Loans ▲6.45 - - -
China Construction Bank 5.50 5.40 6.14 6.40
China Construction Bank Special - 4.45 5.19 5.45
Credit Union Auckland 5.95 - - -
First Credit Union Special 5.85 4.70 5.20 -
Heartland Bank - Online 4.00 3.85 4.70 4.84
Heretaunga Building Society 5.95 4.80 5.50 -
HSBC Premier 5.49 4.39 5.15 5.39
HSBC Premier LVR > 80% - - - -
Lender Flt 1yr 2yr 3yr
HSBC Special - - - -
ICBC 5.25 ▲4.29 ▲5.09 ▲5.35
Kainga Ora ▲5.43 ▲4.57 ▲5.58 ▲5.85
Kainga Ora - First Home Buyer Special - 2.25 - -
Kiwibank 5.00 5.55 6.19 6.39
Kiwibank - Offset 5.00 - - -
Kiwibank Special 5.00 4.55 5.19 5.39
Liberty 4.84 - - -
Nelson Building Society 5.95 4.95 5.85 -
Pepper Essential 3.44 - - -
Resimac 4.59 5.60 6.16 6.29
Lender Flt 1yr 2yr 3yr
SBS Bank 5.29 4.69 5.35 5.49
SBS Bank Special - 4.19 4.85 4.99
Select Home Loans 4.09 4.29 4.86 5.09
The Co-operative Bank - First Home Special - ▲4.19 - -
The Co-operative Bank - Owner Occ 5.45 ▲4.29 5.19 5.45
The Co-operative Bank - Standard 5.45 ▲4.79 5.69 5.95
TSB Bank 5.59 ▼5.14 6.05 6.15
TSB Special 4.79 ▼4.34 5.25 5.35
Unity 5.65 ▲4.80 ▲5.50 -
Wairarapa Building Society 5.24 4.55 5.20 -
Westpac 5.54 5.09 5.79 6.09
Lender Flt 1yr 2yr 3yr
Westpac - Offset 5.54 - - -
Westpac Special - 4.49 5.19 5.49
Median 5.45 4.55 5.25 5.52

Last updated: 16 May 2022 9:03am

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