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


MARKET CLOSE NZ shares edge higher

MARKET CLOSE NZ shares edge higher

Jan 24 (BusinessDesk) – New Zealand shares rose again as Chinese manufacturing figures rose to a two year high, adding to increasingly positive sentiment about global economic conditions in 2013.

The NZX50 Index of leading stocks rose 2.19 points, or 0.52 percent, to 4,189.914. Within the index, 22 stocks rose, 17 fell, and 11 were unchanged. Turnover was $ million.

Leading the market higher was NZX, the stock exchange operator, which last week reported a 27 percent increase in the volume of trading in December 2012 over the same month a year earlier, and a near-record 25 percent rise in the leading index over the calendar year. Equity analysts are predicting a surge back to equities this year as low global interest rates force investors back to riskier, higher yielding investments.

NZX shares rose 2.34 percent to $1.31, representing an increase in value over the last 12 months of 13.43 percent. The second largest increase in percentage terms coming from PGG Wrightson, which continued its see-saw pattern to rise 2.33 percent to 44 cents.

Fonterra Shareholders Fund, which is sparking debate as to whether its units are over-valued, put on
1.53 percent to $7.31. Two leading fertiliser firms today voluntarily withdrew a commonly used nitrogen inhibitor, DCD, from the market after finding traces of the compound, which reduces greenhouse gas emissions of nitrous oxide found in cattle urine, in milk products.

Sky TV had a strong day, up 1.61 percent to $5.05 and infrastructure investor Infratil was up 1.28 percent to $2.37, an increase of almost 25 percent in the last year.

After pushing recent highs again yesterday, Fletcher Building came off 1.61 percent, or 15 cents, to $9.19, although the market’s largest stock by capitalisation has still risen 47.93 percent in the last year. Fellow construction sector supplier Steel & Tube, which had a strong run earlier in the week, was down 1.52 percent to $2.60.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Land & Water Forum: Fourth Report On Water Management

The Land and Water Forum (LWF) today published its fourth report, outlining 60 new consensus recommendations for how New Zealand should improve its management of fresh water and calling on the Government to urgently adopt all of its recommendations from earlier reports. More>>



Welcome Home: Record High Migration Stokes 41-Year High Population Growth

New Zealand annual net migration hit a new high in October as more people arrived from than departed for Australia for the first time in more than 20 years. More>>


Citizens' Advice Bureau: Report Shows Desperate Housing Situation Throughout NZ

CAB's in-depth analysis of over 2000 client enquiries about emergency accommodation shows vulnerable families, pregnant women and children living in cars and garages, even after seeking assistance from the Ministry of Social Development and Housing New Zealand. More>>


Speaking For The Bees: Greens Call For Neonicotinoid Pesticide Ban

The National Government should ban the use of controversial pesticides called neonicotinoids after evidence has revealed that even at low doses they cause harm to bee populations, the Green Party said today. More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news