NZ Sharemarket Edges Higher As F&P Healthcare Weighs On Gains

The New Zealand sharemarket ended last week with a small gain, with a decline in market leader Fisher & Paykel Healthcare masking a better tone. The S&P/NZX 50 Index ended 14.49 points, or 0.11%, down at 13,391.59, with 35.3 million shares worth $130.2m trading. There were 90 rises and 55 falls on the main board.

Fisher & Paykel Healthcare, the market’s biggest stock, eased back by 11c to $35.86. By late in the NZ day, Australia’s S&P/AX 200 index was slightly weaker but not far off 52-week highs.

Precinct’s $285m placement at $1.23 a share was fully subscribed. The $25m share purchase plan closes on Tuesday. S&P/NZX Real Estate Select Index gained 30 points or 1.66% to finish at 1,839.78.

Air NZ ended flat at 60c despite receiving a couple of broker downgrades after the company announced this week that it expects to report a pre-tax first half loss of $30-55m.

THL Shares in Tourism Holdings (THL) gained a cent to $2.48 after Friday’s annual meeting. In materials released for the meeting, the loss-making THL said that, given the scale of its current transformation, it would not provide earnings guidance. “We remain confident that we have turned a corner and expect a return to net profit growth in 2026,” THL said.  THL in August reported an annual loss of $25.8m, compared with a $39.4m profit the previous year.

Vista’s share price gained 10c or 3.65% at $2.84 after a positive earnings update, but the stock was still a far cry from its $4.00 peak reached in March.

Looking ahead, a number of annual meetings and special meetings are due this week. Rua Bioscience’s AGM is set for Tuesday, while meetings for Ebos and SouthPort are due on Wednesday. AGMs for Freightways, Mee Today and Move Logistics are due on Thursday, while Fonterra’s special meeting to vote on the sale of its consumer business is due on the same day. On Friday, Sky City, Barramundi, and Port of Tauranga hold their AGMs.

Source: Business Desk

Ahead of the local open SPI futures were 40 points lower at 9020.

- close [Morningstar with AAP]: Australia's share market has started the week higher after reports of China and the US being on the verge of a trade deal.

The S&P/ASX200 gained 36.6 points on Monday, up 0.41 per cent, to 9,055.6, as the broader All Ordinaries rose 34.7 points, or 0.37 per cent, to 9,351.9.

The gains come after US inflation data all but locked-in an interest rate cut, and on reports the US and China have reached a deal framework to settle trade tensions around rare earths and technology exports.

After a strong start, the local bourse handed back roughly 40 per cent of its early gains by the close, IG markets analyst Tony Sycamore said.

"Not entirely the most convincing performance I've seen given the news we have out there, which does obviously provide a further backdrop for risk assets and potentially ease concerns around a slowdown into year end," he told AAP.

Local uncertainties, like Wednesday's all-important quarterly inflation print and its impact on the Reserve Bank's road ahead for interest rates, could have contributed to the session's hesitant turn, Mr Sycamore said.

"We need to get some of the unknowns out of the way, specifically with regards to the inflation data here in Australia," he said.

Eight of 11 local sectors ended higher, with oil prices supporting energy stocks and interest rate-sensitive segments like financials, discretionary spending and IT bolstering the bourse elsewhere.

Each of the big four banks rose at least 0.6 per cent, led by CBA as its shares closed at $171.67.

Miners were mixed as the raw materials sector ground 0.4 per cent higher, boosted by broad lifts in iron ore giants Fortescue (+1.3 per cent), Rio Tinto (+1.3 per cent) and BHP (+0.7 per cent).

Copper producers also performed well, with Capstone posting gains and Sandfire Resources rallying 2.8 per cent to above $16 after a strong September quarter update.

Gold miners were mixed as the precious metal continued to ease from its recent dizzying heights to trade at $US4,080 ($A6,243) an ounce, as risk-on sentiment chased away safe-haven buyers.

Evolution and Northern Star each traded more than one per cent higher, but Newmont (-3.1 per cent) and Ramelius (-5.7 per cent) sold off as investors digested their recent quarterly updates.

Iluka Resources was the top-200's worst performer, down 6.9 per cent. The mineral sands producer is now trading lower than before last week's rare earths deal between Australia and the US, which prompted a buying spree across the segment.

Energy stocks gained 0.8 per cent on Monday, as oil and natural gas prices edged higher during the session and coal miners also caught a bid.

The more defensive healthcare sector was the worst performing segment, falling 0.6 per cent as investors sought growth elsewhere. Resmed and Fisher and Paykel Healthcare were each faded by roughly two per cent.

The Australian dollar is buying 65.38 US cents, up from 64.99 US cents on Friday at 5pm.

The Aussie lifted on US-China trade deal hopes and as bets on an interest rate cut at the Reserve Bank's November meeting eased, with rates markets now pricing a 64 per cent chance of a reduction.

Looking ahead, blood plasma giant CSL, Omni Bridgeway and Credit Corp will hold annual general meetings on Tuesday, with Ansell, Woolworths, Whitehaven Coal, Wesfarmers and JB Hi-Fi to follow later in the week.

Wednesday's quarterly consumer price index is the week's macroeconomic "main event", with consensus expectations for increases across all measures, including the Reserve Bank's preferred trimmed mean figure, tipped to rise 0.2 per cent over the quarter.

ON THE ASX:

The S&P/ASX200 rose 36.6 points, or 0.41 per cent, to 9,055.6

The broader All Ordinaries gained 34.7 points, or 0.37 per cent, to 9,351.9

The NZX 50 Lost -54.69 points (-0.41%) to 13336.9

Companies Holding Annual General Meeting (ASX 300):

CSL Limited

[Morningstar with Dow Jones]:

U.S. stocks ended higher. The DJIA added 0.7% to 47,544.59, the S&P 500 climbed 1.2% to 6,875.16 and the Nasdaq lifted 1.9% to 23,637.46.

Among S&P 500 companies, the top three gainers were Qualcomm Inc QCOM surging 11.09%, Keurig Dr Pepper Inc KDP jumped 7.62%, and Super Micro Computer Inc SMCI lifted 6.79%.

The biggest decliners were Albemarle Corp ALB which dropped 8.91%, Newmont Corp NEM fell 5.69%, and Ford Motor Co F lost 4.41%.

Asia

Chinese shares closed higher. The benchmark Shanghai Composite Index added 1.2% to 3,996.94 and the Shenzhen Composite Index climbed 1.3% to 2,522.78.

Hong Kong shares ended higher. The benchmark Hang Seng Index added 1% to 26,433.70.

Japanese shares ended higher. The Nikkei Stock Average climbed 2.5% to 50,512.32.

India shares ended higher. The BSE SENSEX lifted 0.7% to 84,778.84.

Europe

Stocks in the U.K. finished higher. The FTSE 100 Index added 0.1% to 9,653.82. In Europe, shares closed higher. The Germany's DAX gained 0.3% to 24,308.78, and the France's CAC 40 rose 0.2% to 8,239.18