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

 

Post-Post: Brian Roche To Step Down As NZ Post CEO

Brian Roche will step down as chief executive of New Zealand Post in April 2017, having led the state-owned postal service's drive to adjust to shrinking mail volumes with a combination of cost cuts, asset sales, modernisation and expansion of new businesses. More>>

ALSO:

Company Results: Air NZ Rides The Tourism Boom With Record Full-Year Earnings

Air New Zealand has ridden the tourism boom and staved off increased competition to deliver the best full-year earnings in its 76-year history. More>>

ALSO:

New PGP: Sheep Milk Industry Gets $12.6M Crown Funding

The Sheep - Horizon Three programme aims to develop "a market driven, end-to-end value chain generating annual revenues of between $200 million and $700 million by 2030," according to a joint statement. More>>

ALSO:

Half Full: Fonterra Raises Forecast Milk Price

Fonterra Co-operative Group Limited today increased its 2016/17 forecast Farmgate Milk Price by 50 cents to $4.75 per kgMS. When combined with the forecast earnings per share range for the 2017 financial year of 50 to 60 cents, the total payout available to farmers in the current season is forecast to be $5.25 to $5.35 before retentions. More>>

ALSO:

Keep Digging: Seabed Ironsands Miner TransTasman Tries Again

The first company to attempt to gain a resource consent to mine ironsands from the ocean floor in New Zealand's Exclusive Economic Zone has lodged a new application containing fresh scientific and other evidence it hopes will persuade regulators after their initial application was turned down in 2014. More>>

Wool Pulled: Duvets Sold As ‘Premium Alpaca’ Mostly Sheep’s Wool

Rotorua business Budge Collection Limited (Budge) and sole director, Sun Dong Kim, were convicted and fined a total of $71,250 in Auckland District Court after each pleading guilty to four charges of misrepresenting how much alpaca fibre was in their duvets. More>>

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news