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

 


MARKET CLOSE: NZ shares rise in short session; retailers up

MARKET CLOSE: NZ shares rise in shortened session; Hallenstein leads gains in retailers

Dec. 24 (BusinessDesk) – New Zealand shares rose in a shortened pre-Christmas session, with Hallenstein Glasson Holdings leading some retailers higher after figures showed seasonal sales are tracking ahead of last year. Metlifecare fell after joining the benchmark index.

The NZX 50 Index rose 3.08 points, or 0.1 percent, to 4057.82. Within the index, 25 stocks rose, 16 fell and nine were unchanged. Turnover was just $33.4 million.

Hallenstein, the clothing chain, rose 3 percent to $5.50 in modest trading. Jeweller Michael Hill International rose 1.6 percent to $1.24, outdoor equipment chain Kathmandu rose 1 percent to $1.99 and Warehouse Group, the biggest retailer on the NZX 50, gained 1 percent to $3.

Figures from Paymark, which processes about 75 percent of the nation’s electronic retail transactions, show sales last week were up 2.6 percent on the same week of 2011. Local stocks gained even after key benchmarks on Wall Street were down 0.9 percent.

“It’s very quiet Christmas trading – and not a bad performance considering what happened offshore,” said David Price, a broker at Forsyth Barr. “There’s no corporate news and unlikely to be for the next couple of weeks.”

The kiwi dollar has fallen to a three-week low, and that’s helped underpin the local stock market, he said.

PGG Wrightson, the nation’s largest rural services company, rose 5 percent to 42 cents and was the biggest gainer on the benchmark index.

Metlifecare, the retirement village operator, fell 1.9 percent to $3.07 in its first day trading in the NZX 50. Summerset Group, the other retirement village added to the index today, rose 0.5 percent to $2.23.

They replaced NZ Refining, up 2.9 percent to $2.50 today, and Goodman Fielder, unchanged at 76 cents.

Fletcher Building, the biggest company on the NZX 50, rose 0.6 percent to $8.30. Telecom rose 0.9 percent to $2.28 and Contact Energy fell 1.7 percent to $5.30.

NZX, the stock market operator, rose 2.5 percent to $1.22. Port of Tauranga fell 1.3 percent to $13.08 and fishing company Sanford fell 1.6 percent to $4.25.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Constructions Builds: Consents Top $2 Billion For The First Time

Building consents reached a record $2 billion in March 2017, boosted by new homes and several big non-residential projects, Stats NZ said today. This was up 37 percent compared with March 2016. More>>

Other Stats:

Health: Work Underway To Address Antimicrobial Resistance

As part of a global response the Ministries of Health and Primary Industries have today jointly published ‘Antimicrobial Resistance: New Zealand’s current situation and identified areas for action’ to respond to the changing pattern of antimicrobial resistance in New Zealand. More>>

ALSO:

Employment: Vodafone Announces Family Violence Policy To Support Team

From today, any of Vodafone’s 3,000 workers affected by family violence will be eligible for a range of practical support, including up to 10 additional days of paid leave per year. More>>

Burning Up Over Saturn: Cassini's Grand Finale

With propellant running low, NASA scientists are concerned that the probe might accidentally crash into one of Saturn’s nearby moons, which could contaminate it with Earthling bacteria stuck to the spacecraft. Instead, the spacecraft will be safely "disposed" in Saturn's atmosphere. More>>

ALSO:

Our Fresh Water: Monitoring Report Confirms Serious Challenges For Rivers

• nitrogen levels are getting worse at 55 percent and getting better at 28 percent of monitored river sites across New Zealand • phosphorus levels are getting better at 42 percent and getting worse at 25 percent of monitored river sites across New Zealand More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news