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

 

Cosmetics & Pollution: Proposal To Ban Microbeads

Cosmetic products containing microbeads will be banned under a proposal announced by the Minister for the Environment today. Marine scientists have been advocating for a ban on the microplastics, which have been found to quickly enter waterways and harm marine life. More>>

ALSO:

NIWA: 2016 New Zealand’s Warmest Year On Record

Annual temperatures were above average (0.51°C to 1.20°C above the annual average) throughout the country, with very few locations observing near average temperatures (within 0.5°C of the annual average) or lower. The year 2016 was the warmest on record for New Zealand, based on NIWA’s seven-station series which begins in 1909. More>>

ALSO:

Farewell 2016: NZ Economy Flies Through 2016's Political Curveballs

Dec. 23 (BusinessDesk) - New Zealand's economy batted away some curly political curveballs of 2016 to end the year on a high note, with its twin planks of a booming construction sector and rampant tourism soon to be joined by a resurgent dairy industry. More>>

ALSO:


NZ Economy: More Growth Than Expected In 3rd Qtr

Dec. 22 (BusinessDesk) - New Zealand's economy grew at a faster pace than expected in the September quarter as a booming construction sector continued to underpin activity, spilling over into related building services, and was bolstered by tourism and transport ... More>>

  • NZ Govt - Solid growth for NZ despite fragile world economy
  • NZ Council of Trade Unions - Government needs to ensure economy raises living standards
  • KiwiRail Goes Deisel: Cans electric trains on partially electrified North Island trunkline

    Dec. 21 (BusinessDesk) – KiwiRail, the state-owned rail and freight operator, said a small fleet of electric trains on New Zealand’s North Island would be phased out over the next two years and replaced with diesel locomotives. More>>

  • KiwiRail - KiwiRail announces fleet decision on North Island line
  • Greens - Ditching electric trains massive step backwards
  • Labour - Bill English turns ‘Think Big’ into ‘Think Backwards’
  • First Union - Train drivers condemn KiwiRail’s return to “dirty diesel”
  • NZ First - KiwiRail Going Backwards for Xmas
  • NIWA: The Year's Top Science Findings

    Since 1972 NIWA has operated a Clean Air Monitoring Station at Baring Head, near Wellington... In June, Baring Head’s carbon dioxide readings officially passed 400 parts per million (ppm), a level last reached more than three million years ago. More>>

    ALSO:

    Get More From Scoop

     
     
     
     
     
     
     
     
    Business
    Search Scoop  
     
     
    Powered by Vodafone
    NZ independent news