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

 


MARKET CLOSE: NZ shares fall on China data, high kiwi

MARKET CLOSE: NZ shares fall on China data, high kiwi

Jan. 6 (BusinessDesk) – New Zealand shares fell in light trading as data showed slower Chinese services sector activity and the kiwi held near recent highs against the Australian dollar and the yen. Kathmandu and Auckland International Airport paced the decline.

The NZX 50 Index fell 3.720 points, or 0.1 percent, to 4765.318. Within the index, 22 stocks fell, 15 gained and 13 were unchanged. Turnover was $38 million, about a third of average daily trading last year, making it hard to read too much into price movements.

Kathmandu, the outdoor clothing chain that counts Australia as its largest market, fell 2.7 percent to $3.31. SkyCity Entertainment, which has operations in Adelaide and Darwin, fell 1.3 percent to $3.75. The kiwi has advanced 4.8 percent against the Australian dollar this year and touched a five-year high late last month. The kiwi is near a six-year high against the yen.

Equity markets were weaker across much of Asia as figures showed the HSBC/Markit services sector Purchasing Managers' Index fell to 50.9 in December, the slowest pace in six months, stoking concern the pace of growth in the world’s No. 2 economy may slow.

Auckland International Airport fell 1.9 percent to $3.55. OceanaGold, operator of the Macraes gold field, fell 4.7 percent to $1.81.

MightyRiverPower fell 1.4 percent to $2.10, leading a decline among some energy related stocks. Z Energy dropped 1.4 percent to $3.65, Contact Energy fell 1.4 percent to $5.10 and NZ Oil & Gas fell 1.2 percent to 80 cents. Infratil fell 0.9 percent to $2.28.

Kiwi Income Property Trust fell 1.4 percent to $1.07, Goodman property Trust dropped 1 percent to 97 cents and Precinct properties New Zealand fell 1 percent to 98 cents. DNZ Property Fund was 0.6 percent lower at $1.55.

Outside of the NZX 50, Wellington Drive Technology gained about 13 percent to 27 cents, GeoOp rose 10 percent to $2.20 and SLI Systems fell 5.4 percent to $1.75.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Must Sell 20 Petrol Stations: Z Cleared To Buy Caltex Assets

Z Energy is allowed to buy the Caltex and Challenge! petrol station chains but must sell 19 of its retail sites and one truck-stop, the Commerce Commission has ruled in a split decision that acknowledges possible retail price coordination between fuel retailers occurs in some regions. More>>

ALSO:

Huntly: Genesis Extends Life Of Coal-Fuelled Power Station To 2022

Genesis Energy will keep its two coal and gas-fired units at Huntly Power Station operating until 2022, having previously said they'd be closed by 2018, after wringing a high price from other electricity generators who wanted to keep them as back-up. More>>

ALSO:

Dammed If You Do: Ruataniwha Irrigation Scheme Hits Farmer Uptake Targets

Enough Hawke's Bay farmers have signed up for water from the proposed Ruataniwha Water Storage Scheme for it to go ahead as long as a cornerstone institutional capital investor can be found to back it, its regional council promoter announced. More>>

ALSO:

Reserve Bank: OCR Stays At 2.25%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2.25 percent, in a decision traders had said could go either way, while predicting inflation will pick up as the slump in oil prices washes out of the data and capacity pressures start to build in the economy. More>>

ALSO:

Export Values Down: NZ Posts Biggest Annual Trade Deficit In 7 Years

New Zealand has recorded its biggest annual trade deficit since April 2009, reflecting weaker prices of agricultural commodities such as dairy products, beef and lamb, and increased imports of vehicles and machinery. More>>

ALSO:

Currency Events: NZ's New $5 Note Wins International Banknote Award

New Zealand’s new Brighter Money $5 note has been named Banknote of the Year in a prestigious international competition. The $5 note was awarded the IBNS Banknote of the Year title at the International Bank Note Society’s annual meeting. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news