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

 


MARKET CLOSE: NZ shares mixed in light trading; Diligent up

MARKET CLOSE: NZ shares mixed in holiday trading; Diligent up, Michael Hill down

Dec. 30 (BusinessDesk) – New Zealand shares were mixed in subdued holiday trading, with Diligent Board Member Services leading gainers and Michael Hill International recording the biggest decline. Traders said the local market may enjoy a third year of gains in 2014.

The NZX 50 Index rose 1.620 points, or 0.03 percent, to 4768.98. Within the index, 25 stocks rose, 15 fell and ten were unchanged. Turnover was about $32 million.

Equity markets were mainly higher across Asia following gains on Wall Street last week, though with volumes so light in the New Zealand bourse, traders warned about reading too much into moves. The NZX 50 is heading for a 17 percent annual gain, after rising 25 percent in 2012 and may extend its gains given the bullish outlook for the domestic economy, they said.

“Everything you read is really positive about next year and that will drive confidence a bit higher,” said Greg Easton, an adviser at Craigs Investment Partners. “People will be feeling wealthier. They want a piece of this boom as well.”

Diligent climbed 10 percent to $3.78, having dropped 37 percent this year. Mainfreight, the transport group, rose 2 percent to $12 and Ebos Group rose 2.1 percent to $9.80.

Chorus, the network operator, rose 1.8 percent to $1.455 and Telecom gained 0.2 percent to $2.34.

Retailers were mixed despite early reports of strong post-Christmas sales. Michael Hill International fell 2.1 percent to $1.39. Trade Me, the auction website, fell 1.2 percent to $4.06, while Kathmandu rose 0.3 percent to $3.53. Warehouse Group was steady at $3.85 and Hallenstein Glasson Holdings held unchanged at $3.87.

Fletcher Building was unchanged at $8.52.

Retirement village operators were mixed. Ryman Healthcare rose 0.1 percent to $7.85 and Metlifecare gained 1 percent to $3.96 while Summerset Group fell 0.6 percent to $3.28.

Among companies facing some regulatory risks in 2014, MightyRiverPower rose 0.9 percent to $2.145 and Contact Energy gained 0.8 percent to $5.16. Meridian Energy fell 0.5 percent to $1.03.

Sky Network Television fell 0.7 percent to $5.85 and SkyCity Entertainment fell 1.6 percent to $3.82.

Auckland International Airport declined 1.9 percent to $3.53.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Power Outages, Roads Close: Easter Storm Moving Down Country

The NZ Transport Agency says storm conditions at the start of the Easter break are making driving hazardous in Auckland and Northland and it advises people extreme care is needed on the regions’ state highways and roads... More>>

ALSO:

Houses (& Tobacco) Lead Inflation: CPI Up 0.3% In March Quarter

The consumers price index (CPI) rose 0.3 percent in the March 2014 quarter, Statistics New Zealand said today. Higher tobacco and housing prices were partly countered by seasonally cheaper international air fares, vegetables, and package holidays. More>>

ALSO:

Notoriously Reliable Predictions: Budget To Show Rise In Full-Time Income To 2018: English

This year’s Budget will forecast wage increases through to 2018 amounting to a $10,500 a year increase in average full time earnings over six years to $62,200 a year, says Finance Minister Bill English in a speech urging voters not to “put all of this at risk” by changing the government. More>>

ALSO:

Prices Up, Volume Down: March NZ House Sales Drop 10% As Loan Curbs Bite

New Zealand house sales dropped 10 percent in March from a year earlier as the Reserve Bank’s restrictions on low-equity mortgages continue to weigh on sales of cheaper property. More>>

ALSO:

Scoop Business: Chorus To Appeal Copper Pricing Judgment

Chorus will appeal a High Court ruling upholding the Commerce Commission’s determination setting the regulated prices on the telecommunications network operator’s copper lines. More>>

ALSO:

Earlier:

Cars: Precautionary Recalls Announced For Toyota Vehicles

Toyota advises that a number of its New Zealand vehicles are affected by a series of precautionary global recalls. Toyota New Zealand General Manager Customer Services Spencer Morris stressed that the recalls are precautionary. More>>

ALSO:

'Gardening Club': Air Freight Cartel Nets Almost $12 Million In Penalties

The High Court in Auckland has today ordered Swiss company Kuehne + Nagel International AG to pay a penalty of $3.1 million plus costs for breaches of the Commerce Act. Kuehne + Nagel’s penalty brings the total penalties ordered in this case to $11.95 million ... More>>

ALSO:

Crown Accounts: Revenue Below Projections

Core Crown tax revenue has increased by $1.9 billion (or 5.0%) compared to the same time last year. However this was $1.1 billion less than expected and is reflected across most tax types, continuing the pattern of recent months. More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news