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

Themes of the day: America’s trade deficit unexpectedly widened to US$57 billion while the number of people seeking unemployment benefits rose to the highest level since 1982, stoking concern about a worsening slump in the world’s biggest economy. Crude oil surged 11% after OPEC member Saudi Arabian said it reduced output more than expected. In New Zealand today, government figures may show retail sales growth stalled in October.

Abano Healthcare (ABA): Managing director Alan Clarke said in the company’s newsletter that growth has “continued unabated” in the 2009 financial year. Demand for private healthcare “continues to grow” and the company expects second-half earnings growth to exceed the first six months. The shares traded at NZ$4.50 yesterday and are down about 10% this year.

Cavalier Corp. (CAV): The only carpet maker on the benchmark index has leaped about in recent sessions on relatively low volumes. The stock jumped 8.7% to NZ$2 yesterday as just 2,278 shares changed hands. It reached a record low NZ$1.80 on Dec. 9. In August, the company posted a 14% gain in annual profit to $17.9 million, partly reflecting the contribution from Norman Ellison Carpets.

Fisher & Paykel Healthcare Corp. (FPH): The medical equipment maker said its performance in the six months ended Sept. 30, the introduction of new products and growth
in international sales “gives us confidence that we can achieve continuing strong revenue and earnings
growth for the full year,” it said in its interim report, released today. The shares traded at NZ$3.05 yesterday and are down about 12% this year.

NZX Ltd. (NZX): The operator of the New Zealand stock exchange edged up 0.6% to NZ$5.50 yesterday after the board of Bond Exchange of South Africa recommended shareholders accept the Johannesburg Stock Exchange takeover offer of 125 rand per share. NZX is the biggest shareholder in BESA, having acquired its 22% stake on Oct. 3 for 73.17 rand, amounting to a 71% profit in just two months.

SmartPay Ltd. (SPY): The electronic product distribution and payments processing company agreed to the terms under which it will acquire FIVO from NATCOM to become the nation’s largest provider of Wi-Fi services.The deal includes managing all of Telecom Corp.’s Wi-Fi sites. SmartPay shares trade infrequently and last changed hands on Dec. 9 at 2 cents. They’ve dropped about 40% this year.

Scott Technology (SCT): The manufacturer of factory production lines won a NZ$7 million order from a “major high end” European appliance manufacturer this week and the company is continuing to field enquiries on a weekly basis, Chairman Stuart McLauchlan told shareholders at their annual meeting yesterday. The shares fell 2.9% to NZ$1.02 yesterday and have climbed 5% in the past month.

(Businesswire)

ENDS

© Scoop Media

 
 
 
Top Scoops Headlines

 

Binoy Kampmark: Predictable Monstrosities: Priti Patel Approves Assange’s Extradition
The only shock about the UK Home Secretary’s decision regarding Julian Assange was that it did not come sooner. In April, Chief Magistrate Senior District Judge Paul Goldspring expressed the view that he was “duty-bound” to send the case to Priti Patel to decide on whether to extradite the WikiLeaks founder to the United States to face 18 charges, 17 grafted from the US Espionage Act of 1917... More>>

Digitl: Are we happy living in Handy's Age of Unreason?
In 1989 Charles Handy wrote The Age of Unreason. It's a book that looked forward to a time where telecommuting would be an everyday reality. We live in that world today, although we use the term working from home. The book contains other predictions that were on the money... More>>


Reactionary Succession: Peter Dutton, Australia’s New Opposition Leader
The devastation wrought on Australia’s Coalition government on May 21 by the electorate had a stunning, cleansing effect. Previously inconceivable scenarios were played out in safe, Liberal-held seats that had, for decades, seen few, if any challenges, from an alternative political force. But the survival of one figure would have proved troubling, not only to the new Labor government, but to many Liberal colleagues lamenting the ruins. The pugilists and head knockers, however, would have felt some relief. Amidst the bloodletting, hope... More>>


Digitl: Infrastructure Commission wants digital strategy
Earlier this month Te Waihanga, New Zealand’s infrastructure commission, tabled its first Infrastructure Strategy: Rautaki Hanganga o Aotearoa. Te Waihanga describes its document as a road map for a thriving New Zealand... More>>


Binoy Kampmark: Leaking For Roe V Wade
The US Supreme Court Chief Justice was furious. For the first time in history, the raw judicial process of one of the most powerful, and opaque arms of government, had been exposed via media – at least in preliminary form. It resembled, in no negligible way, the publication by WikiLeaks of various drafts of the Trans-Pacific Partnership... More>>




The Conversation: Cheaper food comes with other costs – why cutting GST isn't the answer

As New Zealand considers the removal of the goods and services tax (GST) from food to reduce costs for low income households, advocates need to consider the impact cheap food has on the environment and whether there are better options to help struggling families... More>>