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

 


MARKET CLOSE: NZ shares rise; Wynyard, Xero lead tech gains

MARKET CLOSE: NZ shares gain; Wynyard, Xero lead tech advance

Jan. 8 (BusinessDesk) – New Zealand shares rose as intelligence software firm Wynyard Group rallied for a second day, leading gains among tech stocks perceived to have strong growth prospects, including Xero, SLI Systems, Snakk Media and GeoOp.

The NZX 50 Index gained 20.179 points, or 0.4 percent, to 4779.804. Within the index, 26 stocks rose, 19 fell and five were unchanged. Turnover was $75 million.

Wynyard Group climbed 11 percent to a record-high close of $1.48, adding to a 12 percent gain yesterday, when the company said United Arab Emirates money exchange GCC Exchange will use its anti-money laundering software. The value of the contract, which follows four deals signed in November and December, wasn’t disclosed.

“The outlook for Wynyard is very strong,” said Mark Warminger, a portfolio manager at Milford Asset Management. “The company is in very early days of selling this product around the world so I think they have got an incredibly strong future ahead of them.”

Xero, the cloud-based accounting company, gained 7.5 percent to $36.56. SLI Systems, the search engine software developer, rose 2.7 percent to $1.88. Snakk Media, which aggregates publishers’ ad space on mobile devices, rose 6.7 percent to 12.8 cents. GeoOp, whose software allows small businesses to manage their workforce, rose 2.4 percent to $2.15.

Diligent Board Member Services fell 2.7 percent to $4.65, snapping a 26 percent rally this year.

Hallenstein Glasson Holdings rose 3.6 percent to $4.04, leading gains among retailers after eftpos transaction processor Paymark said retail spending rose 7.5 percent in December compared to the same month of 2012.

Michael Hill International rose 2.8 percent to $1.45 and Trade Me gained 1.5 percent to $4.09. Warehouse Group rose 0.3 percent to $3.71.

Summerset Group rose 1.2 percent to $3.48 after the retirement village operator said sales rose by 50 percent in the fourth quarter, pushing annual sales above 400 for the first time. Metlifecare rose 1.4 percent to $4.26, while Ryman Healthcare slipped 0.3 percent to $7.85.

Telecom gained 0.2 percent to $2.315 and Fletcher Building fell 0.2 percent to $8.43.

OceanaGold rose 0.6 percent to $1.76 after the gold miner said it plans to scale back operations and shed staff at the Macraes goldfield in Otago in response to a falling gold price, and has flagged smaller production and an impairment charge in 2014.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Media: Julian Wilcox Leaves Māori TV

Māori Television has confirmed the resignation of Head of News and Production Julian Wilcox. Mr Maxwell acknowledged Mr Wilcox’s significant contribution to Māori Television since joining the organisation in 2004. More>>

ALSO:

Genetics: New Heat Tolerant Cow Developed

Hamilton, New Zealand-based Dairy Solutionz Ltd has led an expert genetics team to develop a new dairy cow breed conditioned to thrive in lower elevation tropical climates and achieve high milk production under heat stress. More>>

Fractals: Thousands More Business Cards Needed To Build Giant Sponge

New Zealand is taking part in a global event this weekend to build a Menger Sponge using 15 million business cards but local organisers say they are thousands of business cards short. More>>

Scoop Business: NZ Net Migration Rises To Annual Record In September

New Zealand’s annual net migration rose to a record in September, beating government forecasts, as the inflow was spurred by student arrivals from India and Kiwis returning home from Australia. More>>

ALSO:

Scoop Business: Fletcher To Close Its Christchurch Insulation Plant, Cut 29 Jobs

Fletcher Building, New Zealand’s largest listed company, will close its Christchurch insulation factory, as it consolidates its Tasman Insulations operations in a “highly competitive market”. More>>

ALSO:

Scoop Business: Novartis Adds Nine New Treatments Under Pharmac Deal

Novartis New Zealand, the local unit of the global pharmaceuticals firm, has added nine new treatments in a far-ranging agreement with government drug buying agency, Pharmac. More>>

ALSO:

Crown Accounts: English Wary On Tax Take, Could Threaten Surplus

Finance Minister Bill English is warning the tax take may come in below forecast in the current financial year, as figures released today confirm it was short by nearly $1 billion in the year to June 30 and English warned of the potential impact of slumping receipts from agricultural exports. More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

Standards New Zealand

Mosh Social Media
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news