F&P Healthcare weighs on NZX50 ahead of earnings

New Zealand’s S&P/NZX 50 index fell late in the day with exporters broadly weaker ahead of Fisher & Paykel Healthcare’s annual earnings on Tuesday and as Channel Infrastructure followed oil prices lower amid growing optimism that the US and Iran might be close to reaching a peace deal.

Commercial landlords were also on the red side of the ledger ahead of Goodman New Zealand’s earnings on Tuesday, even as government bond yields eased as the prospect of a lasting Middle East ceasefire cools some of the heat in inflation expectations.

Oceania Healthcare was at the top of the leaderboard after its latest result got a generally favourable review from brokers, with two research houses raising their target price on the aged care operator.

And outside the NZX50, Pacific Edge nudged higher after saying it will put more emphasis on profitability on the presumed return to Medicare coverage, while Eroad tumbled as it fell short of expectations, with its board facing a challenge by New York hedge fund Ampfield Management.