NZ sharemarket up as healthcare company Pacific Edge rallies 12% on US price news

The New Zealand sharemarket rose on Wednesday, with healthcare company Pacific Edge rallying on positive news for its testing solution.

Wednesday, September 10th 2025, 6:58PM

by BusinessDesk

The S&P/NZX 50 Index closed up 0.17% or 22.51 points, rising to 13,276.24, after 36.9 million shares worth $150.5m traded.

The S&P/NZX 20 index closed at 7,682.51 points, up 0.11%, while the S&P/NZX 10 index ended the day at 12,825.84, rising 0.27%.

There were 68 gainers and 64 decliners on the main board.

'Star of the day'

Salt Funds Management managing director Matt Goodson said it was a relatively quiet day in the market.

“It’s been a relatively quiet post result season day without a lot of fundamental news,” Goodson said.

Goodson said Pacific Edge was the “star of the day”, with the company’s share price rallying 12.77% to $0.15 after 2.7m shares changed hands on turnover worth $425,200.

“[The] Centers for Medicare & Medicaid Services (CMS) has recommended a much stronger than expected price for their Triage Plus test, at over US$1,300 [NZ$2,186] per test rather than the draft of just over US$1,000.

“The only flaw is that they aren’t yet on the reimbursement list. Although given that they are now part of the recommended standard of care by the American Neurological Association, it’s certainly our expectation that the consultant who acts for Medicare will put them back on.”

Briscoe Group released its half-year result, reporting flat revenue compared with the same period last year, while profit fell 11.8% to $29.3m. Its share price fell 5c or 0.88% to $5.64.

Goodson said it was encouraging to see its second quarter was “a lot less bad” than its first, but said its outlook commentary for the full year was a bit softer than the market expected.

Infratil also had a positive day, with its share price lifting 2.13% or 26c to $12.45, after 568,000 shares changed hands on turnover worth $7.07m.

Goodson believed the positive result for Oracle on the United States markets overnight could have played a part, after Oracle provided the market with aggressive guidance around cloud infrastructure growth.

Ebos Group shed more from its share price after its earnings announcement in late August, dropping 2.47% or 74c to $29.23 on turnover worth $14.39m.

Mainfreight also had its share price drop, falling 5.86% or $3.75 to $60.25.

Other stocks

Meanwhile, Fisher & Paykel Healthcare rose late in the day, rising 0.34% to $38.43 on turnover worth $26.7m.

Wall Street stock indices powered to fresh records on Tuesday, shrugging off disappointing jobs data amid expectations that it will lead to lower US Federal Reserve interest rates.

All three major indices finished at all-time highs, with the Dow Jones Industrial Average up 0.4% at 45,711.34.

The broad-based S&P 500 rose 0.3% to 6,512.61, while the tech-rich Nasdaq Composite Index advanced 0.4% to 21,879.49.

The records came as the US Labor Department estimated that 911,000 fewer jobs were created in the United States than previously reported in a revision to data for the 12 months ending in March.

The figures suggest the job market has been slowing for longer than previously thought, further bolstering the odds of Federal Reserve interest rate cuts following poor monthly reports for July and August.

– Additional reporting AFP

Tags: Market Close