NZX50 sinks on return from long weekend; My Food Bag rallies on review

New Zealand’s S&P/NZX 50 index tumbled in its return from the long weekend, in a mixed day across Asia as Brent crude price pushed higher amid the stalemate between the US and Iran, and as health stocks such as Fisher & Paykel Healthcare and Ebos Group remained out of favour after ASX-listed Cochlear’s profit warning last week.

Channel Infrastructure was among the day’s gainers after Ampol-owned Z Energy won the tender to supply 90 million litres of diesel at the Marsden Point import terminal’s extended storage by late June.

Stock market operator NZX pushed go on its new S&P/NZX 20 index futures product, with the Accident Compensation Corp and Jarden Securities first out of the blocks to make a trade.

And My Food Bag jumped near a five-month high after the foodkit company tapped Cameron Partners to help run the rule over its business as a soggy share price struggles to reflect an improving outlook for the business.