Top Scoops

Book Reviews | Gordon Campbell | Scoop News | Wellington Scoop | Community Scoop | Search


Stocks to Watch: New Zealand Equity Preview

Stocks to Watch: New Zealand Equity Preview

Dec. 16 – The following stocks may be active on the New Zealand exchange after developments since the close of trading yesterday.

Themes of the day: The Reserve Bank of Australia releases minutes of its meeting this month, where it cut its benchmark rate a greater than expected 100 basis points. Stocks weakened on Wall Street after figures showed dwindling confidence among homebuilders and a drop in manufacturing.

Botry-Zen (BOZ): The unprofitable maker of biological control agents said it has changed its mind about delisting and will now switch from the NZX’s main board to the NZAX market for small caps and start-ups. The company yesterday named Stephen Lorimer as general and technical manager starting next year. Some 100,000 of the shares changed hands yesterday at 1.7 cents.

Hellaby Holdings (HBY): Shares of the diversified investment company have dropped 19% in the past two trading days after it said pretax earnings may fall as much as 26% this year on weakening demand for auto-parts, construction equipment and shrinking margins on shoes. The stock fell 4% to NZ$1.18 yesterday.

Michael Hill international (MHI): The jewelry chain will relocate to Australia under a transaction where it plans to sell its intellectual property to its subsidiary across the Tasman Sea. The move will create tax benefits and lift 2009 profit by NZ$59 million as the company faces squeezed margins and difficult trading conditions, it said. The shares were unchanged at 60 cents yesterday and have fallen about 50% this year.

National Property Trust (NPT): Kevin Podmore, chairman of the trust’s manager, said the property investor is looking at several strategic options and will provide
investors with an update on the outcome of the Strategic Review following its conclusion, which is expected to be early in 2009. The trust’s units rose 2.5% to 41 cents yesterday.

Richina Pacific Ltd. (RPL): The company proposing to delist its stock and split into four separately traded units said trading in its shares “has been at minimal levels.” “We believe the nature and location of the company's businesses and assets are better suited to a corporate organisation and structure that is more private equity oriented,” chairman John Walker told shareholders yesterday. The stocks was unchanged yesterday at 40 cents and is down 20% this year.



© Scoop Media

Top Scoops Headlines


Any Questions: Scoop Launches New Q&A Website

It’s an easy way to find out party positions and allows you to view candidates’ answers side by side. It’s also a way for you to make your voice heard this election, and get the parties talking about the things that are important to you. More>>


Scoop HiveMind Project: Universal Basic Income - Are We Up For It?

This is an opportunity for you as one of the 4 million potential funders and recipients of a Universal Basic Income to collectively consider the issue:
1. Is UBI is a desirable policy for New Zealand; and
2. How should a UBI system work in practice. More>>


Lyndon Hood: National Announces Plan To Hit Youth With Big Mallets

The National party has announced its youth justice policy, which includes a controversial plan for recidivist serious youth offenders to be hit over the head with a comically large rubber mallet. More>>


Lyndon Hood: This ->

It's been brought to my attention that Labour's new campaign slogan is "Let's do this". A collective call to action. A mission. I myself was halfway out of the couch before I realised I wasn't sure what it was I was supposed to do. More>>


Scoop Hivemind Report: What New Zealanders Think About Affordable Housing

Ordinary citizens have had very few venues where they can debate and discuss as to what they believe has led to the crisis in affordable housing and how we might begin to address this. The HiveMind on affordable housing was about redressing the balance. More>>


New Hivemind Exploration: Opening The Election - Freshwater Quality

This is an opportunity for you as one of the 4 million guardians of our common water resources to help us find mutually agreeable solutions to the critical task of collectively managing these resources for health and sustainability. More>>