Market Announcements
Market Summary
New Zealand shares followed overseas markets, with a solid rebound after a volatile period. The S&P/NZX 50 traded strongly in the afternoon and closed at 13,513.68, up 67.31 points or 0.5% after reaching an intraday low of 13,399.82. There were 74 gainers and 57 decliners on the main board with 33.7 million shares worth $123.5m changing hands.
ANZ Research expects no change in the Official Cash Rate (OCR), currently at 2.25%, when the Reserve Bank of NZ (RBNZ) meets next week. But the OCR track will be followed closely. ANZ said gross domestic product was stronger than the RBNZ expected in the third quarter and that fourth-quarter indicators have been solid. Consumers price index (CPI) inflation unexpectedly lifted to sit outside the target band in the fourth quarter in a broad-based surprise. On the other hand, the housing and labour markets do not appear inflationary, suggesting the medium-term outlook remains on track. “Relative to current market pricing, the Reserve Bank’s track is likely to be considerably less aggressive,” ANZ said.
Market leader Fisher and Paykel Healthcare drove the local market higher after increasing 70c or 1.78% to $39.98 on trade worth $12.9m. Mainfreight was up $1 to $65; Infratil collected 14c to $11.18; Port of Tauranga gained 13c to $8; Fletcher Building increased 8c or 2.19% to $3.73; Vulcan Steel rose 46c or 5.98% to $8.15; and Summerset added 12c to $11.25. Vista Group rebounded 7c or 3.68% to $1.97; CDL Investments increased 4.5c or 5.63% to 84.5c; and Pacific Edge rose 2c or 9.76% to 22.5c, having gained nearly 20% in the last two trading days. Mercury Energy was down 12c or 1.86% to $6.34; Serko shed 6c or 2.35% to $2.49; SkyCity decreased 2c or 2.21% to 88.5c; Comvita declined 2.5c or 3.62% to 66.5c, and Freightways was down 5c to $14.95 after reaching an intraday low of $14.40. In the retail sector, Briscoe declined 19c or 3.85% to $4.74, and Hallenstein Glasson was down 13c to $10.
Carpet maker Bremworth was down 3c or 4% to 72c after telling the market it is lowering the expected return to shareholders in the scheme of arrangement with US flooring company Mohawk Industries, owner of Godfrey Hirst NZ. Under the scheme, Mohawk is making a cash payment of 75c a share, and Bremworth intends to make a capital distribution of 30-40c a share. Bremworth said trading conditions have been more difficult than anticipated and it is now expected to distribute $14-21m, representing 20-30c a share. The scheme, still fully supported by the Bremworth board, has been reduced to a total of 95c to $1.05 a share. The company said that if the scheme does not proceed, the deterioration in Bremworth's cash position is likely to continue.
Santana Minerals, up 1c to $1.22, has extended the exploration target for the Rise & Shine discovery hole at the Bendigo-Ophir Gold Project in Central Otago.
Source: Business Desk
Australian Market Report
Ahead of the local open SPI futures were 20 points higher at 8892.
- close [Morningstar with AAP]: Australia's share market has rebounded with gusto from the previous session, recapturing the bulk of Friday's more than $60 billion in losses.
The S&P/ASX200 surged 161.3 points on Monday, up 1.85 per cent, to 8,870.1, as the broader All Ordinaries rose 176.5 points, or 1.97 per cent, to 9,131.1.
A recovery for local stocks followed the worst session in 10 months on Friday, which wiped more than $60 billion from the top-500's combined $3.1 trillion market cap.
"It has been a very interesting five and a half weeks in 2026, and it's continued today - just a remarkable rebound," IG market analyst Tony Sycamore told AAP.
"If you look at the sectors that are doing well, it's the ones which got absolutely pulverised on Friday."
Real estate and IT stocks each rocketed more than 3.2 per cent higher, while basic materials jumped three per cent as all 11 sectors pushed into the green.
Gold miners were some of the market's best performers as precious metals continued to swing wildly in the wake of their late January sell-off, hinting at more potential volatility as buyers and sellers tussle towards fair value in the segment.
The precious metal firmed to $US5,022 ($A7,147) an ounce over the session, lifting local miners Evolution and Northern Star more than 3.5 per cent each, while Denver-headquartered Newmont soared 6.5 per cent to $164.92.
Iron ore giants BHP and Rio Tinto traded roughly two per cent higher, despite iron ore futures hovering at six-month lows just below $US100 a tonne.
Copper stocks Sandstone and Capstone improved by more than four per cent each, as did rare earths play Lynas after a rough ride the previous week.
The energy sector rose 1.8 per cent despite a quiet day for oil prices after US-Iran talks at the weekend, with coal miners and uranium stocks doing some heavy lifting.
Consumer-facing sectors did well, with cyclicals up 1.7 per cent and staples trading one per cent stronger
The outsized financial sector rose a solid 1.2 per cent, with all big four banks advancing.
Commonwealth Bank shares rose 0.6 per cent to $159.89 ahead of an earnings update on Wednesday, as ANZ, NAB and Westpac jumped more than 1.4 per cent each.
Alternative lender Pepper Money barrelled 28.4 per cent higher to $2.26 after receiving a takeover bid from Challenger at $2.60 a share.??
Conversely, Challenger dipped 3.6 per cent into the red and was the top-200's weakest performer.
At the top of the table were gold miners Resolute, Ora Banda and Predictive Discovery.
In other big price moves, Web Travel shares rebounded by more than 18 per cent as it confirmed 2026 guidance, after shares plummeted last week on news its Spanish arm was being audited by the national tax agency.
Local earnings season is in full swing, with Commonwealth Bank, Macquarie, AMP, AGL, CSL, Origin, and NBN Co. among the veritable acronym soup of companies reporting financial results this week.
The Australian dollar is buying 70.29 US cents, up from 69.55 US cents on Friday, supported by last Tuesday's Reserve Bank interest rate hike and as rate markets indicate another likely increase by June.
ON THE ASX:
The S&P/ASX200 gained 161.3 points, or 1.85 per cent, to 8,870.1
The broader All Ordinaries rose 176.5 points, or 1.97 per cent, to 9,131.1
The NZX 50 Lost -32.73 points (-0.24%) to 13413.64
Overseas Market Report
[Morningstar with Dow Jones]:
U.S. stocks ended mixed. The DJIA was unchanged at 50,135.87, the S&P 500 gained 0.5% to 6,964.82 and the Nasdaq lifted 0.9% to 23,238.67.
Among S&P 500 companies, the top three gainers were AppLovin Corp APP surging 13.20%, Oracle Corp ORCL jumped 9.64%, and Corning Inc GLW lifted 7.56%.
The biggest decliners were Waters Corp WAT which dropped 13.94%, Willis Towers Watson PLC WTW fell 12.12%, and Arthur J. Gallagher & Co AJG lost 9.85%.
Asia
Chinese shares closed higher. The benchmark Shanghai Composite Index climbed 1.4% to 4,123.09 and the Shenzhen Composite Index rose 1.9% to 2,700.22.
Hong Kong shares ended higher. The benchmark Hang Seng Index climbed 1.8% to 27,027.16.
Japanese shares ended higher. The Nikkei Stock Average rose 3.9% to 56,363.94.
India shares ended higher. The BSE SENSEX lifted 0.6% to 84,065.75.
Europe
Stocks in the U.K. finished higher. The FTSE 100 Index rose 0.2% to 10,386.23. In Europe, shares closed higher. The Germany's DAX added 1.2% to 25,014.87, and the France's CAC 40 climbed 0.6% to 8,323.28
