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NZ market edges up as CPI data remains stable

New Zealand’s benchmark index remained unperturbed by the latest consumer price index (CPI) data remaining steady – but still hot.

Wednesday, January 25th 2023, 6:23PM

by BusinessDesk

The S&P/NZX 50 index rose 61.6 points, or 0.5%, to 11,994.51. Across the main board, 55 stocks fell, and 70 rose. Turnover was $137.2 million.

Jeremy Sullivan, an investment adviser at Hamilton Hindin Greene, said today’s CPI release was the big news of the day.

‘People's expectations of interest rates are ebbing, and the consensus is that inflation may have peaked,” he told BusinessDesk. “That's good for the market and we’re broadly higher today.”

The CPI lifted at an annual rate of 7.2% in the December quarter of 2022 – the same as the prior quarter – with quarterly inflation coming in at 1.4%.

The annual pace of inflation may have remained stable in the final quarter of the year, but it is still piping hot, with large increases in housing, food and transport costs.

After the CPI was released today, the NZ dollar edged up from 65 US cents to 65.20 cents. However, by 3pm in Wellington, it had drifted down to 64.77 cents, slightly lower than yesterday's 64.90 cents.

On the stocks front, Chorus edged up 0.2% to $8.385. The telecommunications company told the market today that total fibre connections had increased by 17,000 to 997,000.

Ryman Healthcare rose 4.3% to $6.36, continuing its very good week which saw the share price shoot up over 5% yesterday. Restaurant Brands' sales increased to $332m for the fourth quarter ending Dec 31, up 16.9% from  the previous corresponding period.

Pacific Edge fell for the second day in a row and was down 3.1% to 47.5 cents. Fisher & Paykel Healthcare, which declined yesterday, was up 0.2% to $25.25 by early evening.

A proposed deal between two Auckland viaduct operators has fallen over, stumping former mayoral candidate Leo Molloy’s plans to open his new bar tomorrow.

Good Spirits Hospitality jumped 8% to 2.7 cents in very light trading. The share rise followed a proposed deal between Good Spirits and former mayoral candidate Molloy falling over.

Kiwi Property also saw a significant jump of 4.3% to 96.5 cents.

Tags: Market Close

« NZX leads market lower as inflation figures loomNZ tech stocks have a mixed day »

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Lender Flt 1yr 2yr 3yr
AIA - Back My Build 6.19 - - -
AIA - Go Home Loans 8.74 7.14 6.75 6.39
ANZ 8.64 7.74 7.39 7.25
ANZ Blueprint to Build 7.39 - - -
ANZ Good Energy - - - 1.00
ANZ Special - 7.14 6.79 6.65
ASB Bank 8.64 7.14 6.75 6.39
ASB Better Homes Top Up - - - 1.00
Avanti Finance 9.15 - - -
Basecorp Finance 9.60 - - -
Bluestone 9.24 - - -
Lender Flt 1yr 2yr 3yr
BNZ - Classic - 7.14 6.79 6.65
BNZ - Green Home Loan top-ups - - - 1.00
BNZ - Mortgage One 8.69 - - -
BNZ - Rapid Repay 8.69 - - -
BNZ - Std, FlyBuys 8.69 7.74 7.39 7.25
BNZ - TotalMoney 8.69 - - -
CFML Loans 9.45 - - -
China Construction Bank - 7.09 6.75 6.49
China Construction Bank Special - - - -
Co-operative Bank - First Home Special - 6.79 - -
Co-operative Bank - Owner Occ 8.40 6.99 6.79 6.65
Lender Flt 1yr 2yr 3yr
Co-operative Bank - Standard 8.40 7.49 7.29 7.15
Credit Union Auckland 7.70 - - -
First Credit Union Special - 7.45 7.35 -
First Credit Union Standard 8.50 7.99 7.85 -
Heartland Bank - Online 7.99 6.89 6.55 6.35
Heartland Bank - Reverse Mortgage - - - -
Heretaunga Building Society 8.90 7.60 7.40 -
HSBC Premier 8.59 - - -
HSBC Premier LVR > 80% - - - -
HSBC Special - - - -
ICBC 7.85 7.05 6.69 6.59
Lender Flt 1yr 2yr 3yr
Kainga Ora 8.64 7.74 7.35 6.99
Kainga Ora - First Home Buyer Special - - - -
Kiwibank 8.50 7.99 7.79 7.55
Kiwibank - Offset 8.50 - - -
Kiwibank Special - 6.99 6.79 6.65
Liberty 8.59 8.69 8.79 8.94
Nelson Building Society 9.00 7.65 7.25 -
Pepper Money Advantage 10.49 - - -
Pepper Money Easy 8.69 - - -
Pepper Money Essential 8.29 - - -
Resimac - LVR < 80% 8.84 8.09 7.59 7.29
Lender Flt 1yr 2yr 3yr
Resimac - LVR < 90% 9.84 9.09 8.59 8.29
Resimac - Specialist Clear (Alt Doc) - - 8.99 -
Resimac - Specialist Clear (Full Doc) - - 9.49 -
SBS Bank 8.74 7.74 7.09 6.95
SBS Bank Special - 7.14 6.49 6.35
SBS Construction lending for FHB - - - -
SBS FirstHome Combo 6.19 6.14 - -
SBS FirstHome Combo - - - -
SBS Unwind reverse equity 9.95 - - -
Select Home Loans 9.24 - - -
TSB Bank 9.44 7.79 7.55 7.45
Lender Flt 1yr 2yr 3yr
TSB Special 8.64 6.99 6.75 6.65
Unity 8.64 6.99 6.79 -
Unity First Home Buyer special - 6.55 6.45 -
Wairarapa Building Society 8.60 6.95 6.85 -
Westpac 8.64 7.84 7.35 6.99
Westpac Choices Everyday 8.74 - - -
Westpac Offset 8.64 - - -
Westpac Special - 7.24 6.75 6.39
Median 8.64 7.19 7.17 6.65

Last updated: 20 June 2024 10:39am

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