NZ shares rise as investors eye upbeat F&P Healthcare result

The S&P/NZX 50 Index rose 4.87 points, or 0.04 percent, to 11,129.23. Within the index, 12 stocks rose, 33 fell and five were unchanged. Turnover was $194 million.

F&P Healthcare climbed 3.5 percent to $32, taking its gain so far this year to 44.5 percent. The breathing mask maker has been a beneficiary of the covid-19 pandemic, especially as the outbreak spreads across the US, where F&P generates about 45 percent of its revenue.

“With Fisher & Paykel, they’re not talking about the influenza season anymore, they’re talking about covid cases,” said Peter McIntyre, an investment adviser at Craigs Investment Partners.

F&P Healthcare will report its annual earnings on Monday and has provided guidance for profit to be between $275 million and $280 million on revenue of $1.24 billion in the March year.