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

 

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>>

Reserve Bank: Labour Calls For Monetary Policy To Expand Goals

Labour's comments follow a speech today by RBNZ governor Graeme Wheeler in which Wheeler sought to answer critics who variously say he should stop lowering interest rates, lower them faster, or that inflation-targeting should no longer be the primary goal of the central bank's activities. More>>

ALSO:

BSA Extension And Sunday Morning Ads: Digital Convergence Bill Captures Online Content

Broadcasting Minister Amy Adams has today announced the Government’s plans to update the Broadcasting Act to better reflect today’s converged market... The Government considered four areas as part of its review into content regulation: classification requirements, advertising restrictions, election programming and contestable funding. More>>

ALSO:

March 2017: Commerce Commission Delays Decision On Fairfax-NZME

The Commerce Commission has delayed its decision on the proposed merger between NZME and Fairfax Media's New Zealand assets, saying the deal is complex and it needs more time to assess the impact on both news content and the advertising market. More>>

ALSO:

Plan Plan: Permanent Independent Hearings Panel Proposed For Planning

The Productivity Commission recommends creating a permanent independent hearings panel like the one that cut through local politics to settle Auckland’s Unitary Plan, for the whole country. More>>

ALSO:

Statistics: NZ Jobless Rate Falls To 5.1% Under New Methodology

New Zealand's unemployment rate fell more than expected in the second quarter as Statistics New Zealand adopted a new way of measuring the labour market to bring the country in line with international practices, and while a growing economy continued to support jobs growth. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news