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

 

Stocks to watch: CHA, NZX, OGC, PPL, SKC, TWR

Stocks to watch: CHA, NZX, OGC, PPL, SKC, TWR

Aug. 4 (BusinessDesk) – The following stocks may be active on the New Zealand exchange after developments since the close of trading. All prices are in New Zealand dollars unless specified.

Themes of the day: The household labour force survey for the second quarter is out today, with economists expecting the unemployment rate to remain unchanged at 6.6%. The participation rate may fall to 68.4% in the three month period from 68.7% previously, according to a Reuters survey, as more people return to work but fail to find work. Global markets for the most part continued to retreat, although Wall Street managed to snap its biggest slide so far this year.

Charlie's Group (CHA): Japanese brewer Asahi has extended the closing date of its offer for the juice and soft drink make by 14 days until Sept. 2. The company's 44 cents a share bid, which is conditional on gaining a 90% stake in the company, has netted it about 75% of the target's shares so far. CHA shares were unchanged yesterday at 44 cents.

NZX Ltd. (NZX): The Financial Markets Authority said it will be taking no action against the securities market operator over disclosures relating to its troubled investment in the Australian Clear Grain Exchange. NZX shares fell 3% yesterday to $2.30.

OceanaGold Corp. (OGC): The sharp decline on global equity markets recently has seen gold prices spike as investors look for safe haven assets. The hedge metal was last trading at US$1,663.49 an ounce, having peaked at US$1,672.65 overnight. Shares in OGC, the gold miner, fell 1.4% to $2.86.

Pumpkin Patch Ltd. (PPL): Consumer facing companies in Australia look set to face a prolonged soft patch after retail sales fell unexpectedly in June as consumers continued keep a tight hold on their spending amid rising global economic uncertainty. Official data showed retail sales fell by 0.1% in the month, short of the 0.4% increase expected. Shares in PPL, which counts Australia as a major market, fell 2.9% yesterday to $1.45.

SkyCity Entertainment Group (SKC): Former New Zealand Rugby Union head Chris Moller has been tapped to take over chairman of the casino and hotel operator when Rod McGeoch retires at the 2012 annual shareholders’ meeting. SKC shares fell 1.4% yesterday to $3.60.

Tower Ltd. (TWR): The general insurer's KiwiSaver business could receive a shot in the arm if a government plan to force all workers who have not already joined to sign up goes ahead. It's estimated that the move could see up to a million people enrolled in the retirement savings scheme. TWR shares fell 1.4% yesterday to $1.45.

(BusinessDesk)

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 


FIRST Union: Do Shareholders Realise Marsden Point Conversion Could Cost More Than Half A Billion Dollars?

FIRST Union, the union representing workers at Refining NZ, are querying whether shareholders voting on Friday on whether to convert the Marsden Point refinery to an import-only terminal realise the conversion could cost $650-700 million dollars... More>>



Civil Contractors: Massive Rebound In Civil Construction Business Confidence

New Zealand’s civil construction industry is riding a massive rebound in post-pandemic business confidence – but this may be undermined by skills shortages, which continue to be the industry’s number one challenge... More>>



Energy: Feeling Our Way Towards Hydrogen - Tina Schirr

Right now hydrogen is getting a lot of attention. Many countries are focusing on producing hydrogen for fuel, or procuring it, or planning for its future use... More>>


Transport: July 2021 New Vehicle Registrations Boosted By EV Rebate Scheme
Motor Industry Association Chief Executive David Crawford says that July 2021 sales of new vehicles were boosted by the recently introduced rebate scheme. July 2021 registrations were 15,053 units compared to 12,263 units for July 2020... More>>



ASB: New Support Finder Tool Helps Connect Customers With Thousands In Government Support

ASB research alongside benefit numbers from the Ministry of Social Development shows an increased number of Kiwis are struggling financially, and many may not be aware they’re eligible for government support... More>>


Housing: New Home Consents Continue To Break Records

A record 44,299 new homes were consented in the year ended June 2021, Stats NZ said today. “The annual number of new homes consented rose again in the June 2021 year, the fourth consecutive month of rises,” construction statistics manager Michael Heslop said... More>>