Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Stocks to watch: Air NZ, Allied, FBU, NZO

Stocks to watch: Air NZ, Allied, FBU, NZO

Dec. 30 (BusinessWire) – The following stocks may be active on the New Zealand exchange after developments since the close of trading yesterday. All prices are in New Zealand dollars unless specified.

Themes of the day: The kiwi dollar strengthened back over 72 U.S. cents. BioVittoria yesterday became the third IPO in two months to fail, underlining weak sentiment for shares. Stocks edged lower on Wall Street.

Air New Zealand (AIR): The national carrier will face competition from the New Zealand arm of cut-price airline Virgin Blue on its Auckland-to-Cairns route from March next year. Pacific Blue will offer twice-weekly flights on the line which boasts approximately 30,000 New Zealand visitors every year. Shares in Air NZ climbed 1.7% to $1.20 in trading yesterday and have surged 23% this year.

Allied Farmers (ALF): Buyers had been active in the stock since the company boosted shares on issue to more than 1.9 billion from 37.7 million with the purchase of Hanover Finance assets the transaction, says Hamilton Hindin Greene director Grant Williamson. Still, “we’ve yet to see sellers come out in volume” and the shares may drift back down to 10 cents, he said. The shares fell 5% to 11 cents yesterday.

Fisher & Paykel Healthcare (FPH): The New Zealand dollar rose above 72 U.S. cents and has climbed 24% this year, reflecting a weakening U.S. dollar. F&P Healthcare gets almost 80% of its revenue in U.S. dollars and a strong kiwi erodes the amount it can bring home. The shares were unchanged at $3.40 yesterday.

Fletcher Building Ltd. (FBU): Funds associated with AXA Group trimmed their holdings in the nation’s biggest construction company to 5.19% from 6.23%, according to a filing to the NZX yesterday. The shares were unchanged at $8.

New Zealand Oil & Gas (NZO): Crude oil traded near US$79 a barrel in New York amid reports of civil unrest in Iran. Crude is heading for its biggest annual advance in a decade, almost 80%. NZOG shares were unchanged at $1.66 yesterday.

PGG Wrightson (PGW): The nation’s largest rural services company yesterday announced the appointment of three new directors - Alan Lai, chairman of 20% holder Agria Corp., and Xie Tao, Agria’s CEO. The company also named George Gould as a director, representing Pyne Gould Corp. In addition, a new sub-committee chaired by Selwyn Cushing is to consider the future composition of the board and the role of independent chairman, it said. The shares were unchanged at 58 cents yesterday.


(BusinessWire)

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

ScoopPro: Helping The Education Sector Get More Out Of Scoop

The ScoopPro professional license includes a suite of useful information tools for professional users of Scoop including some specifically for those in the education sector to make your Scoop experience better. More>>

Big Tax Bill Due: Destiny Church Charities Deregistered

The independent Charities Registration Board has decided to remove Destiny International Trust and Te Hahi o Nga Matamua Holdings Limited from the Charities Register on 20 December 2017 because of the charities’ persistent failure to meet their annual return obligations. More>>

57 Million Users' Data: Uber Breach "Utterly Preventatable"

Cybersecurity leader Centrify says the Uber data breach of 57 million customer and driver records - which the ride-hailing company hid for more than a year - was “utterly preventable”. More>>

Scoop 3.0: How You Can Help Scoop’s Evolution

We have big plans for 2018 as we look to expand our public interest journalism coverage, upgrade our publishing infrastructure and offer even more valuable business tools to commercial users of Scoop. More>>

Having A Cow? Dairy Product Prices Slide For Fourth Straight Auction

Dairy product prices fell at the Global Dairy Trade auction, retreating for the fourth straight auction amid signs of increased production... Whole milk powder fell 2.7 percent to US$2,778 a tonne. More>>

ALSO:

Statistics: Butter At Record $5.67/Block; High Vegetable Prices

Rising dairy prices have pushed food prices up 2.7 percent in the year to October 2017, Stats NZ said today. This followed a 3.0 percent increase in the year to September 2017. More>>

ALSO:

Science: New Research Finds Herbicides Cause Antibiotic Resistance

New University of Canterbury research confirms that the active ingredients of the commonly used herbicides, RoundUp, Kamba and 2,4-D (glyphosate, dicamba and 2,4-D, respectively), each alone cause antibiotic resistance at concentrations well below label application rates. More>>

ALSO:

 
 
 
 
 
 
 
 
  • Bill Bennett on Tech