Ryman and Fletcher lift as NZ sharemarket ends nine-day winning streak
The New Zealand sharemarket was down on Thursday as investors took profit from key listings, although Ryman Healthcare and Fletcher Building generated positive uplifts.
Thursday, November 6th 2025, 6:48PM
by BusinessDesk
The S&P/NZX 50 Index closed down 0.32% or 44.17 points to 13,576.81 after 46 million shares worth $232.8 million were traded.
The S&P/NZX 20 index was down 0.29%, closing at 7765.29 points, while the S&P/NZX 10 index ended the day at 12,980.69 after falling 0.05%.
There were 66 gainers on the main board and 77 decliners.
Hamilton Hindin Greene investment adviser Jeremy Sullivan said it was another quiet day on the market.
“We actually had an intraday full-time high of 13,677, but have given some of it back a little this afternoon, but you do tend to find a wee bit of profit taking as things like all-time highs start getting mentioned,” Sullivan said.
Winning streak ends
The market has closed up nine days in a row, a streak which ended today.
Sullivan said investors took profit from sectors doing well, and sectors which have not done so well, mainly Ryman Healthcare and Fletcher Building.
Fletcher Building’s share price lifted 3.85% or 13c to $3.51 after 2.6 million shares changed hands on turnover worth $9.3m.
Earlier this week, Fletcher Building handed over the keys of the New Zealand International Convention Centre to SkyCity Entertainment Group.
Ryman Healthcare also had a positive day, lifting 2.80% or 8c to $2.94, with 1.4 million shares trading on turnover worth $4m.
Restaurant Brands’ largest shareholder, Finaccess, finally reached 90% of acceptance on its takeover offer, which means it can compulsorily acquire the remaining 10%.
“There’s no reason not to accept it in terms of the takeovers code. It’s a done deal, and you might as well get your money sooner rather than later.”
Once completed, it will be one of several companies to delist over the past year, but Sullivan is not worried about the state of the market.
“I’m sure there’ll be some more listings in the pipeline in due course; we may see a compliance listing or two by the end of the year.”
Elsewhere, Vulcan Steel’s share price lifted 1.80% or 15c to $8.50 on turnover worth $6m, while Infratil closed down 1.05% or 13c at $12.27 on turnover worth $8.3m.
US stocks advance
Wall Street stocks advanced on Wednesday (US time) after better-than-expected jobs data soothed concerns about the United States economy, with equity buyers stepping in following the prior session’s retreat.
US private sector employment jumped 42,000 in October, ADP said, rebounding from a loss of 29,000 jobs in September, nearly double the amount forecast by economists surveyed by Dow Jones Newswires and the Wall Street Journal.
The ADP figures are likely to attract renewed attention as it is one of the few economic indicators released in recent weeks amid the US government shutdown and will feed into investors’ perceptions of whether the US Federal Reserve will cut interest rates again in December.
The Institute of Supply Management’s index of services industry activity, another rare data point, came in at 52.4 for October, better than the 50.9 level projected by analysts, which indicates growth.
Major US stocks opened little changed, but picked up momentum as the day progressed. The broad-based S&P 500 finished up 0.4%.
– Additional reporting AFP
| « Employment data dominates quiet day on NZ sharemarket | NZ sharemarket shakes off Wall Street fall to end firm » |
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