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, July 16th, 11:10AM

Investments

rss
The Markets

‘Listless and almost asleep’: NZ’s market waits for US jobs data

New Zealand’s market was quiet like the ocean before a storm today as investors wait for looming US jobs data out tomorrow.

Thursday, March 9th 2023, 6:04PM

by BusinessDesk

The S&P/NZX 50 Index edged down by 29.4 points, or 0.25%, to 11,826.15. Turnover was $108.3 million.

Peter McIntyre, an investment advisor at Craigs Investment Partners, said the local market had been listless and sleepy today as a result of little corporate news and investors worrying about US jobs data out tomorrow.

US Federal Reserve chair Jerome Powell stirred up market anxieties yesterday after revealing that the process of getting inflation back under control had a “long way to go” and was likely to be “bumpy”.

Powell also said the latest economic data had come in stronger than expected and McIntyre told BusinessDesk that all eyes would be on the US jobs report data coming out tomorrow.

“The market is trying to digest all this and make sense of it, but at the moment it's probably not doing a good job,” he said.

The worst-performing sector in NZ’s market today had been technology, but there was weakness pretty much across the board.

Church management software firm Pushpay Holdings fell 2.3% to $1.25 by the end of the day.

The stock had dropped almost 9% on Monday afternoon thanks to shareholders rejecting a $1.53 billion takeover bid from BGH Capital and Sixth Street. 

Travel expense company Serko was down 4.2% to $2.30 and Vista fell 2.8% to $1.39.

My Food Bag Group had one of the bigger falls of the day, falling 6.1% to 23 cents. The stock has fallen by more than 42% in the past year.

Car dealer Turners Automotive Group was down 0.9% to $3.45. The car dealer announced an earnings upgrade earlier in the week.

Ebos Group was up 1.1% to $45.75 while Fisher & Paykel Healthcare edged down 0.7% to $25.90.

Channel Infrastructure rose 2.1% to $1.44.

Today, the NZ dollar was trading at 61.08 US cents at 3pm in Wellington, edging down slightly from 61.10 cents at the same time yesterday.

Tags: Market Close

« Offshore sentiment drives local marketUnsettled NZ market sheds 1% »

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
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 - - -
SBS Bank 8.74 7.74 7.09 6.95
Lender Flt 1yr 2yr 3yr
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
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 -
Lender Flt 1yr 2yr 3yr
Westpac 8.64 ▼7.49 7.35 6.99
Westpac Choices Everyday 8.74 - - -
Westpac Offset 8.64 - - -
Westpac Special - ▼6.89 6.75 6.39
Median 8.64 7.14 6.82 6.65

Last updated: 15 July 2024 11:47am

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