Scoop has an Ethical Paywall
Work smarter with a Pro licence Learn More
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. 30 – The following stocks may be active on the New Zealand exchange after developments since the close of trading yesterday.

Themes of the day: Crude oil rose 6.1% to $40.01 a barrel on the New York Mercantile Exchange amid escalating tensions in the Gaza Strip. Trading on the NZX amounted to just NZ$24 million yesterday and will likely remain subdued ahead of the New Year’s holiday.

AFFCO Holdings Ltd. (AFF): The North Island meat processor, which has widened its investments to include dairy products, has a strong balance sheet and will continue to develop as a broad food group, the company said in its annual report this week. The shares last traded on Dec. 24 at 38 cents and have gained about 15% this year.

Fisher & Paykel Healthcare Corp. (FPH): The manufacturer of breathing masks and respirators has gained about 4% in the past month, amid expectations demand for its medical products will continue unabated as global growth slows. The shares rose 3.2% to NZ$3.20 yesterday.

Fletcher Building (FBU): The nation’s largest construction company fell 3.5% to NZ$5.60 yesterday, extending last week’s slide after figures showed the biggest drop in U.S. home sales for 21 years. The stock is down almost 50% this year.

Kirkcaldie & Stains (KRK): The Wellington-based department store expects a subdued 2009 and the slowdown could last 18 months, according to managing director John Milford. Tax cuts, lower interest rates and falling prices for petrol were the start of a recovery of confidence, he said, according to the Dominion. The shares last traded at NZ$2.30 on Dec. 24.

Advertisement - scroll to continue reading

Are you getting our free newsletter?

Subscribe to Scoop’s 'The Catch Up' our free weekly newsletter sent to your inbox every Monday with stories from across our network.

New Zealand Oil & Gas (NZO): The oil company has built a 15% stake in Tui oilfield partner Pan Pacific Petroleum, increasing its exposure to the field. Crude oil . . . The shares were unchanged at NZ$1.22 yesterday and have gained 6% this year.

Sanford Ltd. (SAN): The fishing company is the biggest gainer on the NZX 50 Index this year, rising 22% while then benchmark fell 33%. Sanford has benefited from strong prices for fish in world markets and a weakening New Zealand dollar, which swells export returns. The shares were unchanged at NZ$5 yesterday.

(Businesswire)

ENDS

© Scoop Media

Advertisement - scroll to continue reading
 
 
 
Top Scoops Headlines

 
 
 
 
 
 
 
 
 
 
 

Join Our Free Newsletter

Subscribe to Scoop’s 'The Catch Up' our free weekly newsletter sent to your inbox every Monday with stories from across our network.