Market Announcements
Market Summary
Fletcher Building upgraded its earnings forecast for the second time in three weeks as the New Zealand sharemarket entered the Matariki Weekend celebrations with a rise of nearly 1% and a new all-time high. The S&P/NZX 50 Index traded steadily throughout the day and closed at 13,785.67, up 120.49 points or 0.88%. The index rose 1.2% in the shortened trading week and is up 1.4% for the year to date. There were 54 gainers and 78 decliners on the main board and volumes reached 33 million shares worth $137.44m.
The June PMI increased to 59.7, up from 51.3 in May and 50.6 in April, and indicated the manufacturing sector as a whole was expanding. The survey’s long-term average is 52.5. Fletcher Building rose 19c or 5.6% to $3.61 after increasing its full-year 2026 operating earnings (ebit) guidance by 6.4% to $400m-$403m, including $52m from surplus property sales. Fletcher told the market that volumes improved across core manufacturing and distribution divisions, albeit supported in some cases by temporary market dynamics. Existing construction activity continued to support demand, but input cost uncertainty was resulting in delays or cancellations of new projects, particularly in the commercial sector, the company said.
Fisher & Paykel Healthcare was up 45c to $40.25 on trade worth $23.27m; Infratil rose 46c or 3.06% to $15.50; Freightways collected 29c or 2.11% to $14.04; Port of Tauranga gained 23c or 2.7% to $8.76; and Ebos Group increased 40c or 1.84% to $22.15. Goodman NZ increased 4c or 1.94% to $2.10; Delegat Group was up 8c or 1.9% to $4.28; Santana Minerals gained 1.5 or 2.8% to 55c; and Synlait Milk picked up 1c or 2.74% to 37.5c.
Carpet maker Bremworth fell 6c or 8% to 69c after its board abandoned the scheme of arrangement with Floorscape following shareholder opposition. Vista Group declined 7c or 2.85% to $2.39; Serko was down 4c or 2.68% to $1.45; Ryman Healthcare shed 4c or 1.82% to $2.16; and SkyCity fell 2c or 3.6% to 53.5c. Other decliners were T&G Global down 6c or 2.45% to $2.39; Rua Gold falling 7c or 4.32% to $1.55; and Taiko Critical Minerals shedding 4c or 11.76% to 30c.
Napier Port was down 3c to $3.75 after reporting a 2.5% decline in container volume to 79,000 TEUs (20-foot equivalent units) and 4.6% fall in bulk cargo to 740,000 tonnes for the third quarter compared with the same period last year. For the nine months to June, containerised cargo increased 1% to 196,000 TEUs and bulk cargo decreased 2.5% to 2.43m tonnes. Log export volumes were down 5% for the third quarter and 5.2% for the nine months.
New Zealand Rural Land declined 5c or 5.21% to 91c after telling the market that its Hawke’s Bay tenant, Kiwi Crunch Farms, had been placed in receivership. The Kiwi Crunch leases make up 5.8% of NZ Rural’s total rental income, and, given the dynamic nature, it is suspending its full-year 2026 earnings guidance. NZ Rural Land said it had already received strong interest relating to any opportunities arising from the impacted leases. The company said two further leases, ultimately controlled by Wade Glass (Kiwi Crunch owner) and adding a further 7.3% to rental income, were currently not impacted by the receivership.
Heartland Group, down 2c to $1.21, has been told that Toi Foundation is reopening a full 28-day consultation period with the Taranaki community over the proposed merger with TSB Bank. Heartland now expects a decision from the Toi trustees in August and continues to target December for completion of the merger.
Source: Business Desk
Australian Market Report
Ahead of the local open SPI futures were 3 points higher at 8806.
Friday 10th July 2026 - close [Morningstar with AAP]: The Australian share market has managed to avoid a third straight day of losses thanks to a bounce from the banking sector.
The benchmark S&P/ASX200 index on Thursday finished up 1.6 points, or 0.02 per cent, at 8,724.5, while the broader All Ordinaries lost half a point to finish at 8,930.9.
IG analyst Tony Sycamore said 4the ASX200 had dropped 66 points at the open to a three-week low of 8656.20.
Then fresh buying, likely for the start of the new financial year, entered the market and helped it claw back all of its early losses, Mr Sycamore said.
Despite the flat finish just two of the ASX's 11 sectors finished in the green - health care and financials.
The latter rose 1.2 per cent following a rough session on Wednesday.
All of the big four retail banks rose, NAB the most, climbing 3.8 per cent to $38.41.
Westpac added 2.2 per cent to $35.46, ANZ climbed 0.9 per cent to $34.79 and CBA grew 0.3 per cent to $161.14.
In the heavyweight mining sector, goldminers rose as the precious metal rebounded to $US4,077 an ounce following a dip below $4,000 earlier in the week.
Evolution climbed 1.9 per cent, Northern Star grew 5.5 per cent and Newmont added 2.6 per cent.
Elsewhere in the sector, BHP lost 0.6 per cent to $59.57, Rio Tinto grew 0.3 per cent to $171.27 and Fortescue lost 1.5 per cent to $18.96. ????
The Australian dollar was trading for 68.94 US cents, from 68.90 US cents at 5pm AEST on Wednesday.
ON THE ASX:
??The S&P/ASX200 on Thursday rose 1.6 points, or 0.02 per cent, to 8,724.5
The broader All Ordinaries lost half a point to 8,930.9
The NZX 50 Lost -88.59 points (-0.65%) to 13697.08
Companies commencing Ex-Dividend Trading Today (ASX 300):
Collins Foods Limited
Overseas Market Report
[Morningstar with Dow Jones]:
U.S. stocks ended higher. The DJIA rose 0.3% to 52,637.01, the S&P 500 added 0.4% to 7,575.39 and the Nasdaq climbed 0.3% to 26,281.61.
Among S&P 500 companies, the top three gainers were Meta Platforms Inc META surging 5.97%, Weyerhaeuser Co WY jumped 4.22%, and SBA Communications Corp SBAC lifted 4.18%.
The biggest decliners were Moderna Inc MRNA which dropped 10.88%, CrowdStrike Holdings Inc CRWD fell 5.68%, and Datadog Inc DDOG lost 4.28%.
Asia
Chinese shares closed lower. The benchmark Shanghai Composite Index fell 1% to 3,996.16 and the Shenzhen Composite Index declined 1.2% to 2,675.49.
Hong Kong shares ended higher. The benchmark Hang Seng Index rose 0.6% to 24,175.12.
Japanese shares ended higher. The Nikkei Stock Average added 1.2% to 68,557.73.
India shares ended higher. The BSE SENSEX gained 1.1% to 77,569.39.
Europe
Stocks in the U.K. finished higher. The FTSE 100 Index lifted 0.2% to 10,497.29. In Europe, shares closed mixed. The Germany's DAX dropped 0.2% to 25,067.09, and the France's CAC 40 added 0.1% to 8,338.97
