NZ Sharemarket Ends Week Up Over 1%

Mainfreight and Fletcher Building led a resurgence on the New Zealand sharemarket on Friday, posting a gain of more than 1% for the second day running. The S&P/NZX 50 Index picked up in the afternoon and closed at 13,039.2, up 135.89 points or 1.05%.  Turnover reached 39.4 million shares worth $128.8m, and there were 82 gainers and 49 decliners on the main board.

In the US the markets were fuelled by Caterpillar and Alphabet (Google). The S&P 500 increased 10.4% in April for its best month since November 2020, and the Nasdaq rose 15.3%, its best month since April 2020. The Dow ended April with a 7.1% gain – its strongest monthly performance since November 2024.

At home, Mainfreight increased $2 or 3.39% to $61, and Fletcher Building rose 11c or 3.94% to $2.90 on relatively light volumes. Infratil added 28c or 2.25% to $12.75; Chorus increased 29c or 2.98% to $10.02; a2 Milk gained 23c or 2.65% to $8;.90; and Auckland International Airport collected 12c to $8.37. Ryman Healthcare was up 5c or 2.36% to $2.17, and Green Cross Health improved 8c or 5.76% to $1.47.

In the property sector, Goodman NZ rose 7c or 3.7% to $1.96; Investore was up 2c or 1.9% to $1.07; Stride gained 2.5c or 2.25% to $1.13; Precinct increased 3c or 2.91% to $1.;06; and Property for Industry added 4c or 1.72% to $2.36.

Australasian banking group ANZ decreased 55c to $44.05 after reporting half-year operating income of $11.02 billion, down 1%, and cash profit of $3.78b, up 14%. The group said margins remained stable amid tense competition. ANZ NZ had a flat six months ending March with cash profit of $1.238m compared with $1.208b for the previous corresponding period. Net loans and advances increased 2% and customer deposits grew 4%; however, net interest margin declined 5 basis points.  Fellow banker Westpac gained 89c or 1.91% to $47.59.

Briscoe Group, up 6c to $4.61, reported a 1.37% increase in sales to $180.8m for the first quarter ending April 26. Homeware sales were up 1.98% to $105.7m and sporting goods 0.53% to $75.1m. KMD Brands, up 0.002c or 3.23% to 6.4c, told the market that Philip Bowman has become the chair, replacing David Kirk. Bowman is chair of SkyTV and Tegel Group. KMD is now searching for two new directors.

SkyCity, down 1c to 62.5c, has lowered its full-year operating earnings (ebitda) guidance to $180m-$190m, from $190m-$210m. The hotel and casino operator has an agreement to sell the office building at 99 Albert St in Auckland, and investment properties on Victoria St. SkyCity is also seeking expressions of interest for The Grand Hotel “as part of its ongoing asset monetisation programme.” Other decliners were Fisher and Paykel Healthcare, decreasing 37c to $36.18; SkyTV shedding 8c or 2.48% to $3.15; and Serko falling 9c or 5.33% to $1.60.

Californian electronics company Bourns has made its takeover of Auckland advanced manufacturer Rakon unconditional after receiving 93.06% of its shares, at an offer of $1.55 a share. Bourns will now compulsorily acquire the remaining shares by May 15. Rakon’s share price was up 0.005c to $1.54.

Source: Business Desk

Ahead of the local open SPI futures were 1 points lower at 8723.

- close [Morningstar with AAP]: Australia's share market has broken its worst losing streak since 2018 as oil prices eased from four-year highs and strong US earnings boosted investor sentiment.

The S&P/ASX200 gained 64 points on Friday, up 0.74 per cent, to 8,729.8, while the broader All Ordinaries improved by 67 points, or 0.75 per cent, to 8,954.6.

The top 200 has fallen 0.6 per cent since Monday, dropping 2.5 per cent over three weeks of losses as the US-Iran conflict and Strait of Hormuz blockade drags on.

US earnings, the Middle East geopolitical situation and multiple central bank meetings had driven markets during the week, Capital.com senior market analyst Kyle Rodda told AAP.

"The geopolitics is a downside risk, the policy uncertainty is a bit of a downside risk, but the results from US companies were just so strong it's almost impossible for investors to ignore, and it's largely responsible for why we've seen the markets mostly sail through this volatility."

The local bourse, with its less illustrious tech sector, continued to underperform its Wall Street counterparts, as ongoing local inflationary pressures point to a likely interest rate hike at the Reserve Bank's upcoming meeting.

Oil prices eased after spiking to four-year highs above $US120 a barrel on Thursday, with US-Iran peace talks and the Hormuz Strait - an arterial route for a fifth of global crude supply - at effective standstills.

"The longer it straight stays closed, the worse things get," Mr Rodda said.??

"We are heading for a bit of a supply cliff for the next few weeks, that's still a risk that markets are putting to one side and could result in some pullback or an asset price correction if things don't get better."

ASX-listed energy stocks ended the session slightly better than flat despite trailing for most of the session, as a heavy Woodside counterbalanced strength elsewhere in the sector.

Refinery operators Ampol and Viva Energy each traded 1.6 per cent higher or more.

Basic materials outperformed the other segments, gaining 2.1 per cent on the back of strong leads from mega miners BHP and Rio Tinto, after iron ore futures spiked to more than three-month highs overnight.

Gold miners also improved, as the precious metal traded near $US4,595 ($A6,392) an ounce.

Evolution Mining was a stand-out, gaining more than two per cent after a positive resources and reserves update.

Mixed miners, copper plays, rare earths and battery minerals producers also advanced.

The heavyweight financials sector was the only group to end the day lower, shedding 0.3 per cent as ANZ led the big four banks lower.

ANZ shares dropped 2.8 per cent to $35.61, after a first half earnings beat was overshadowed by disappointing revenue trends and credit growth, according to UBS analysts.

Consumer-facing stocks performed well, with both staples and cyclicals up 0.8 per cent or more.

In company news, Qantas lifted by 0.8 per cent to $8.48 after flagging plans to extend its flight cuts into the 2027 financial year and shifting more planes to Europe to save on soaring fuel costs.

Virgin shares slipped 0.5 per cent to $2.16, its weakest close since re-listing on the ASX at $2.90 in June last year.

The Australian dollar is buying 71.96 US cents, up from 71.16 US cents on Thursday, with the greenback dipping after Japanese authorities defended the yen by buying the currency with US dollars.

ON THE ASX:

*The S&P/ASX200 rose 64 points, or 0.74 per cent, to 8,729.8

*The broader All Ordinaries jumped 67 points, or 0.75 per cent, to 8,954.6

The NZX 50 Lost -59.09 points (-0.46%) to 12980.11

Companies commencing Ex-Dividend Trading Today (ASX 300):

Bank of Queensland Limited

[Morningstar with Dow Jones]:

U.S. stocks ended mixed. The DJIA slipped 0.3% to 49,499.27, the S&P 500 gained 0.3% to 7,230.12 and the Nasdaq rose 0.9% to 25,114.44.

Among S&P 500 companies, the top three gainers were Cboe Global Markets Inc CBOE surging 8.95%, Paramount Skydance Corp PSKY jumped 8.30%, and SanDisk Corp SNDK lifted 8.25%.

The biggest decliners were Clorox Co CLX which dropped 9.64%, Stryker Corp SYK fell 6.46%, and Amgen Inc AMGN lost 4.76%.

Asia

Chinese shares closed higher. The benchmark Shanghai Composite Index rose 0.1% to 4,112.16 and the Shenzhen Composite Index gained 0.1% to 2,776.23.

Hong Kong shares ended lower. The benchmark Hang Seng Index slipped 1.3% to 25,776.53.

Japanese shares ended higher. The Nikkei Stock Average gained 0.4% to 59,513.12.

India shares ended lower. The BSE SENSEX fell 0.8% to 76,913.50.

Europe

Stocks in the U.K. finished lower. The FTSE 100 Index declined 0.1% to 10,363.93. In Europe, shares closed mixed. The Germany's DAX climbed 1.4% to 24,292.38, and the France's CAC 40 was unchanged at 8,114.84