Market Announcements
Market Summary
Gains from Fletcher Building and Pacific Edge weren’t enough to keep the index above the ledger to start the week. The benchmark S&P/NZX 50 fell 0.15% to 13,208.31 points on Monday, with 31.4 million shares worth $110.2m changing hands.
High volumes of Fletcher Building stock traded on the Australian Securities Exchange (ASX) inspired a 4.61% bounce to $3.18.
Ebos Group continued its decline, losing 1.84% to finish the day at $28.85, and falling under $29 for the first time in over four years.
Pacific Edge jumped 24.4% to 19.9 cents on volumes valued at over $800,000. Pacific Edge told the market that Medicare contractor Novitas will likely convene an expert panel in early 2026 to review tests of one of its products.
TradeWindow’s shares gained 2.13% to 24 cents on low volumes after it said it was looking to list on the ASX. With its secondary listing, the Auckland-based trade software firm said it was pursuing "the goal of increasing its profile among the broad pool of investors across the Tasman".
Spark New Zealand announced a leadership shake-up, saying two longstanding executives, Renee Mateparae and Melissa Anastasiou, will depart at the end of 2025. Shares of the telecommunications firm dropped 1.27% to $2.34.
Ryman Healthcare stock dipped 0.8% to $2.47 after agents at CBRE listed a property in Christchurch where the company had been planning to build a high-rise retirement project.
At 4pm, a significant product holder (SPH) notice showed NZME director Jim Grenon upped his stake in the media company that owns The Herald and BusinessDesk, buying 3.7m shares for just over $4m. The purchase, which took his holding to nearly 18%, came three weeks after a separate SPH notice recorded he had bought $6m worth of shares in late August. NZME closed up 0.91% at $1.11.
Source: Business Desk
Australian Market Report
Ahead of the local open SPI futures were 41 points higher at 8889.
- close [Morningstar with AAP]: Australia's share market has clawed back most of an early-session sell-off to finish the day slightly lower, as the bourse's third-largest company continued to weigh.
The S&P/ASX200 fell 11.9 points, or 0.13 per cent, to 8,853, as the broader All Ordinaries lost 7.8 points, or 0.09 per cent, to 9,120.9.
"We saw that early weakness as the ASX 200 fell about 70 points in early trading and for the fourth session in five, it ran into buyers lurking below that 8800 level," IG market analyst Tony Sycamore told AAP.
"It had that fabulous run higher in August, and now we're just sort of seeing a bit of consolidation, a bit of sideways price action."
The subdued session also came ahead of local labour force data and a US interest rate decision later in the week, Mr Sycamore said.
Only four sectors finished down for the day, but materials stocks (-0.5 per cent) were heavy with weakness in large cap miners and some profit-taking in gold plays following last week's rallies.
Evolution Mining handed back more than half of the previous week's 9.6 per cent gains, as spot gold hovered near its $US3,763.96 ($A5,522) an ounce record.
BHP faded 0.6 per cent to $40.58, after iron ore prices edged lower on weaker-than-expected industrial production figures from China, while retail sales growth in the world's second biggest economy also undershot forecasts.
Health care stocks led the losses, down 0.8 cent as blood plasma giant CSL tumbled 1.6 per cent to $204.48, its lowest price since June 2019.
The ASX's third-largest company has had almost a quarter of its total value wiped in less than a month since its gloomy earnings announcement in August.
Financials stocks slipped 0.2 per cent amid mixed performances for the big four banks, as ANZ and CBA slipped 0.6 per cent each and NAB and Westpac rose similar amounts.
ANZ avoided downgrades from ratings agency Fitch and investment giant Citi despite copping a record $240 million fine for widespread misconduct in bond trading and customer dealings.
Meanwhile, AMP shares surged 6.5 per cent to $1.80 after the financial services group announced an in principle $120 million class action settlement over excessive fees charged by three of its superannuation subsidiaries.
Consumer-facing stocks did well, with discretionaries up 0.6 per cent and staples lifting 0.3 per cent, each tracking with gains in their respective segment heavyweights, Woolworths, Coles and Bunnings owner Wesfarmers.
Mexican-inspired fast food chain Guzman y Gomez jumped more than five per cent despite going ex-dividend, while Credit Corp lost 1.5 per cent as it locked in its dividend recipients.
Qantas, which slipped one per cent to $11.30, goes ex-dividend on Tuesday, with Inghams, Cochlear, A2 Milk and South32 to follow later in the week.
The Aussie dollar is clinging onto recent gains, fetching 66.57 US cents and on par with Friday evening, supported by strong iron ore prices last week and as US rate cut hopes weigh on the greenback.
ON THE ASX:
The S&P/ASX200 slipped 11.9 points on Monday, or 0.13 per cent, to 8,853
The broader All Ordinaries fell 7.8 points, or 0.09 per cent, to 9,120.9
The NZX 50 Lost -25.65 points (-0.19%) to 13182.66
Companies commencing Ex-Dividend Trading Today (ASX 300):
Qantas Airways Limited
Overseas Market Report
[Morningstar with Dow Jones]:
U.S. stocks ended higher. The DJIA rose 0.1% to 45,883.45, the S&P 500 added 0.5% to 6,615.28 and the Nasdaq climbed 0.9% to 22,348.75.
Among S&P 500 companies, the top three gainers were Seagate Technology Holdings PLC STX surging 7.70%, Albemarle Corp ALB jumped 6.65%, and Western Digital Corp WDC lifted 4.87%.
The biggest decliners were Corteva Inc CTVA which dropped 5.68%, JM Smucker Co SJM fell 5.16%, and Erie Indemnity Co ERIE lost 4.98%.
Asia
Chinese shares closed mixed. The benchmark Shanghai Composite Index declined 0.3% to 3,860.50 and the Shenzhen Composite Index climbed 0.4% to 2,471.43.
Hong Kong shares ended higher. The benchmark Hang Seng Index gained 0.2% to 26,446.56.
Japanese shares ended higher. The Nikkei Stock Average added 0.9% to 44,768.12.
India shares ended lower. The BSE SENSEX dropped 0.1% to 81,785.74.
Europe
Stocks in the U.K. finished lower. The FTSE 100 Index slipped 0.1% to 9,277.03. In Europe, shares closed higher. The Germany's DAX gained 0.2% to 23,748.86, and the France's CAC 40 lifted 0.9% to 7,896.93
