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

 

Tourism: China Southern Airlines To Fly To Christchurch

China Southern Airlines, in partnership with Christchurch Airport and the South Island tourism industry, has announced today it will begin flying directly between Guangzhou, Mainland China and the South Island. More>>

ALSO:

Dodgy: Truck Shops Come Under Scrutiny

Mobile traders, or truck shops, target poorer communities, particularly in Auckland, with non-compliant contracts, steep prices and often lower-quality goods than can be bought at ordinary shops, a Commerce Commission investigation has found. More>>

ALSO:

Auckland Transport: Government, Council Agree On Funding Approach

The government and Auckland Council have reached a detente over transport funding, establishing a one-year, collaborative timetable for decisions on funding for the city's transport infrastructure growth in the next 30 years after the government refused to fund the $2 billion of short and medium-term plans outlined in Auckland's draft Unitary Plan. More>>

ALSO:

Bullish On China Shock: Slumping Equities, Commodities May Continue, But Not A GFC

The biggest selloff in stock markets in at least four years, slumping commodity prices and a surge in Wall Street's fear gauge don't mean the world economy is heading for another global financial crisis, fund managers say. More>>

ALSO:

Real Estate: Investors Driving Up Auckland Housing Risk - RBNZ

The growing presence of investors in Auckland's property market is increasing the risks, and is likely to both amplify the housing cycle and worsen the potential damage from a downturn both to the financial system and the broader economy, said Reserve Bank deputy governor Grant Spencer. More>>

ALSO:

Annual Record: Overseas Visitors Hit 3 Million Milestone

Visitor arrivals to New Zealand surpassed 3 million for the first time in the July 2015 year, Statistics New Zealand said today. The record-breaking 3,002,982 visitors this year was 7 percent higher than the July 2014 year. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news