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

 


MARKET CLOSE NZ stocks end week on new high

MARKET CLOSE NZ stocks end week on new high

Jan 25 (BusinessDesk) - New Zealand shares rose again to create a new high for the NZX50 Index, which is hovering just below the 4,200 mark, and close still to a 1,000 point index rise in 12 months.

The index of the top 50 shares rose 9.907 points, or 0.236 percent to 4199.821, even though only 15 shares rose, while 26 fell, reflecting the influence of heavyweights Telecom and Fletcher Building among risers. Just nine stocks were unchanged and turnover was valued at $a relatively low $98.738 million, with trading since the New Year tending comfortably above $110 million most days.

Traders are starting to look to the half year earnings season, which will start in earnest the week after next, with much riding on the extent to which corporate earnings in a flat last half of 2012 can justify current multiples on many stocks.

NZX, the local bourse operator, was the biggest gainer for the second day in a row, rising 2.29 percent to $1.34, for a rise of 3.97 percent this week and 7.38 percent in the last week.

Fisher & Paykel Healthcare, which has been missing in action in recent days,was second strongest at $2.49, up $2.49. Telecom, worth 9.5 percent of the index, was third strongest at $2.38, up 1.93 percent.

Fletcher Buiilding, whose recent stellar performance has underpinned a more confident tone to New Zealand stocks, was up 0.11 percent to $9.20, still below a high this week of $9.34.

Oceana Gold, PGG Wrightson and Pumpkin Patch, all of which have been bouncing within a range in the last fortnight, had the most value loss for the day, led by Oceana, down 2.35 percent to $3.32, PGW at 43 cents, down 2.27 percent and Pumpkin Path at $1.31, down 2.24 percent on the day.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Statistics: Business Research And Development Up 29 Percent

Computer services and machinery manufacturing firms led the way in an almost 30 percent lift in business spending on research and development (R&D) in 2016, Stats NZ said today. Businesses spent $1.6 billion on R&D in 2016, up $356 million (29 percent) from 2014. More>>

ALSO:

China Shopping: NZ-China FTA Upgrade Agreed Among Slew Of New Deals

New Zealand Prime Minister Bill English and China Premier Li Keqiang signed off a series of cooperation deals spanning trade, customs, travel and climate change and confirmed commencement of official talks on an upgrade to the nine-year old free-trade agreement between the two countries. More>>

ALSO:

Media: TVNZ Flags Job Cuts To Arrest Profit Decline

Chief executive Kevin Kenrick said the changes were aimed at creating "a sustainable future video content business for TVNZ in an ever-changing media market." More>>

ALSO:

Reserve Bank: Wheeler Keeps OCR At 1.75%

Reserve Bank governor Graeme Wheeler kept the official cash rate unchanged at 1.75 percent, as expected, and reiterated his view that the benchmark rate doesn't need shifting for the foreseeable future. More>>

ALSO:

Trade Plans: Prime Minister's Speech To International Business Forum

"The work to improve public services, build infrastructure, and solve social problems is possible only because we have enjoyed sustained, solid economic growth. A big reason for that is the Government’s consistent agenda of economic reform, and our determination to open up more opportunities for trade with the world." More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news