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, June 16th, 6:23PM

Investments

rss
The Markets

NZX on front foot to start May as Infratil rises 3.5%

The New Zealand benchmark has kicked off the month on the front foot but is still being outgunned by its counterpart on the other side of the Tasman.

Thursday, May 1st 2025, 7:01PM

by BusinessDesk

A late rally of Fisher & Paykel Healthcare, rising 2.44% to $34.83, helped push the S&P/NZX 50 up 2.06% to 12.148.600 points – over 44 million shares trading hands, amounting to $153.9m in value traded.

The equivalent index in Australia, the S&P/ASX 200, was down more than 10% for the year on April 7 but has more or less recovered since. Up another 0.2% by 5pm on Thursday, it is almost flat for the year.

Despite never being down 10% at any stage this year, the NZX 50 has not made the same recovery. It remained 7% down for the year at the end of the day's trading.

Head of retail investing at Devon Funds, Greg Smith, said part of the explanation is due to the NZX being more defensive and less directly exposed to China than the ASX.

Australian stocks fell further but recovered faster, and the Australian economy was stronger, he said, adding NZ investors were holding their breath for a rate cut.

"Our economy is still crawling out of a recession. To really get our stock market going, we need some more rate cuts.”

Datacentres

Across the main board, there were 93 gainers and 41 decliners.

Smith noted a quiet day with regard to company announcements, though drew attention to Spark acknowledging media reports stating the firm was auctioning half of its datacentre.

The Australian Financial Review (AFR) reported the telco had “launched an auction to find a co-investor for its datacentre portfolio, which could be worth as much as $1.2b”.

Smith said Spark shares, which rose 1.2% to $2.105, were unlikely to move dramatically on the announcement because investors ”were taking the news with a pinch of salt” due to the deal remaining indefinite.

Sticking with datacentres, after a topsy-turvy year, Infratil rallied 3.51% to $10.92 after Microsoft and Meta suggested overnight they would ramp up investment in datacentres.

Due to its holding in Canberra Data Centres, the infrastructure investor is exposed to changes in perceptions about how much large US technology firms are willing to invest in expanding their artificial intelligence (AI) capabilities.

“There's been a bit of a suggestion that some of these hyperscalers were pulling back on their datacentre investment, which in theory put a bit of a dent in that narrative," Smith said. "But that was put to rest.”

The rest

Buried in his speech at the NZX annual general meeting, company chair John McMahon provided a trading update and held guidance.

McMahon said revenues for the first quarter were $30.8m, up 8.8% compared with the same period last year. 

“Despite present market volatility, we remain cautiously optimistic for 2025 and we are maintaining our operating earnings guidance range of $49m to $54m,” he said.

The market operator's shares jumped 1.95% to $1.57. 

Retirement village and aged care facility company Ryman Healthcare rose 2.71% to $2.27, while its principal competitor, Summerset Group, dropped 0.74% to $10.70.

For the past five years, Summerset shares have fared better than Ryman’s, which have fallen precipitously from over $17 in January 2020.

Fletcher Building quietly locked in more gains, rising 3.26% to $3.17. The stock ended the day up nearly 10% for the year.

Overlooking some of the “specific problems” the company is working through, Smith said it is benefiting from the economy appearing to have reached the bottom of the cycle.

Tags: Market Close

« Auckland Airport shares drop on runway delays as NZX dips 0.61%Mainfreight, China optimism drive stocks higher »

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
  • Generate funds new home loan business
    “What is the obsession with NZ based Fund Managers finding some way in which to expose their KS members money to the NZ property...”
    3 days ago by Ponderer
  • FMA tells commerce minister CoFI is essential
    “It would appear the Dosh relationship is demonstrating the valid perversion of the advice rules. If its scoped and accepted...”
    4 days ago by JPHale
  • Generate funds new home loan business
    “Great news Generate. The so-called pillars of the community, mainly Australian banks, are milking New Zealand citizens. I’m...”
    5 days ago by John Milner
  • Fisher Funds set to be biggest KiwiSaver PE player
    “Obviously not reading the same stuff I am https://www.wsj.com/finance/investing/moodys-sounds-alarm-on-private-funds-for-individuals-8cd268c5?st=JFR7tp&reflink=desktopwebshare_permalink https://blogs...”
    5 days ago by P Urbani
  • Familiar names take top ethical investing awards
    “At a time when investment advice demands more than surface-level understanding, Carey Church and the Moneyworks team continue...”
    8 days ago by Pragmatic
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 4.44 - - -
AIA - Go Home Loans 6.54 4.95 4.95 5.15
ANZ 6.49 5.55 5.55 5.69
ANZ Blueprint to Build 7.39 - - -
ANZ Good Energy - - - 1.00
ANZ Special - 4.95 4.95 5.09
ASB Bank 6.44 4.95 4.95 5.15
ASB Better Homes Top Up - - - 1.00
Avanti Finance 7.15 - - -
Basecorp Finance 7.25 - - -
BNZ - Classic - 5.99 5.69 5.69
Lender Flt 1yr 2yr 3yr
BNZ - Mortgage One 6.54 - - -
BNZ - Rapid Repay 6.54 - - -
BNZ - Std 6.44 4.95 4.95 5.09
BNZ - TotalMoney 6.54 - - -
CFML 321 Loans 4.99 - - -
CFML Home Loans 6.70 - - -
CFML Prime Loans 7.20 - - -
CFML Standard Loans 7.99 - - -
China Construction Bank 6.44 4.99 4.99 5.29
China Construction Bank Special 6.44 5.99 5.99 6.29
Co-operative Bank - First Home Special - ▼4.85 - -
Lender Flt 1yr 2yr 3yr
Co-operative Bank - Owner Occ 5.95 ▼4.95 4.99 ▼5.25
Co-operative Bank - Standard 5.95 ▼5.45 5.49 ▼5.75
Credit Union Auckland 7.70 - - -
First Credit Union Special - 5.29 5.19 -
First Credit Union Standard 6.94 5.79 5.49 -
Heartland Bank - Online 5.99 5.89 - -
Heartland Bank - Reverse Mortgage - - - -
Heretaunga Building Society 7.45 ▼5.90 5.80 -
ICBC 6.50 4.85 4.95 5.05
Kainga Ora 6.44 4.99 4.99 5.35
Kainga Ora - First Home Buyer Special - - - -
Lender Flt 1yr 2yr 3yr
Kiwibank 6.35 5.79 5.85 6.09
Kiwibank - Offset 6.35 - - -
Kiwibank Special - 4.89 4.95 5.29
Liberty 6.90 6.80 6.50 6.45
Nelson Building Society 6.94 4.99 4.93 -
Pepper Money Advantage 10.65 - - -
Pepper Money Easy 8.16 - - -
Pepper Money Essential 7.40 - - -
SBS Bank 6.49 5.55 5.55 5.75
SBS Bank Special - 4.95 4.95 5.15
SBS Construction lending for FHB 3.94 - - -
Lender Flt 1yr 2yr 3yr
SBS FirstHome Combo - 4.29 - -
SBS FirstHome Combo - - - -
SBS Unwind reverse equity 8.89 - - -
TSB Bank 7.19 ▼5.75 ▼5.75 ▼6.09
TSB Special 6.39 ▼4.95 ▼4.95 ▼5.29
Unity First Home Buyer special - 4.29 - -
Unity Special 6.64 4.99 4.99 -
Unity Standard 6.64 5.79 5.79 -
Wairarapa Building Society ▼6.75 5.19 4.95 -
Westpac 6.59 ▼5.49 5.55 ▲5.59
Westpac Choices Everyday 6.69 - - -
Lender Flt 1yr 2yr 3yr
Westpac Offset 6.59 - - -
Westpac Special - ▼4.89 4.95 ▲4.99
Median 6.59 4.99 4.99 5.29

Last updated: 16 June 2025 9:26am

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