Market Announcements
Market Summary
The New Zealand sharemarket climbed to its highest level in nearly a month yesterday, with utilities investor Infratil providing the impetus for the second day running. The S&P/NZX 50 Index traded steadily all day and closed at 13,270.61, up 125.42 points or 0.95%. The previous highest close was 13,273.81 on April 9, and the index has risen 2.8% so far this month but is down less than 2% for the year to date. There were 96 gainers and 40 decliners on the main board with 51.7 million shares worth $225.2m changing hands.
Infratil, gaining another 59c or 4.05% to $15.14, led the individual turnover with trade worth $46.69m. Infratil has now risen more than 17% in two trading days – and 40% for the year to date – after one of its portfolio companies, CDC, announced the biggest datacentre deal in Australia.
Markets were boosted by reports that the United States and Iran were nearing a peace agreement that would include a moratorium on nuclear enrichment. The US has offered Iran a one-page memorandum of understanding to end the war, reopen the Strait of Hormuz and lift the US blockade on Iranian ports.
Across the Tasman, the S&P/ASX 200 Index was up 0.80% to 8,864.10 points at 6pm NZ time, and the Japanese Nikkei 225 had surged 6%; the Taiwan Taiex had risen 1.93% and the Hong Kong Hang Seng Index had increased 1.37%. Brent Crude oil had fallen US$101.80 (NZ$170.86) a barrel on the latest peace negotiation.
At home, utilities software firm Gentrack held an investor webinar for analysts and bounced back 27c or 7.34% to $3.95 following its significant earnings downgrade. The stock is down more than 50% so far this year. Ebos Group increased 49c or 2.3% to $21.75; a2 Milk was up 20c or 2.52% to $8.15; Napier Port gained 7c or 1.94% to $3.68; Port of Tauranga added 10c to a new high of $8.45; and Vista Group rose 10c or 5.05% to $2.08. Turners Automotive fell 31c or 3.37% to $8.90, and 2 Cheap Cars was up 3c or 5.08% to 62c. In the retail sector, Hallenstein Glasson was up 25c or 2.5% to $10.25, and The Warehouse shed 2c or 3.08% to 63c. Tourism Holdings decreased 4c or 1.9% to $2.06; Blackpearl Group declined 3.5c or 4.64% to 72c; and Bremworth was down 2c or 2.76% to 70.5c.
Santana Minerals increased 2.5c or 3.33% to 77.5c after gaining Overseas Investment Office consent to buy 3,680ha of land for the Bendigo-Ophir Gold Project in Central Otago – subject to obtaining resource consent to construct the gold mine. The land purchase includes 797ha of the Bendigo Station for open-pit mining, and 2,800ha of the Ardgour Station for administration offices, a processing plant, and ecological enhancement. The first gold production is expected in early 2028. Locate Technologies increased 0.007c or 25% to 3.5c after resuming trading and providing additional information on its three-year services agreement with FedEx Express Australia that includes last-mile logistics technology for deliveries.
Health and wellness products supplier Me Today, up 0.001c or 2.04% to 5c, said revenue for the year ending June would exceed $7.4m, an increase of 27% on the previous year and 14% above its earlier guidance. A $1.6m loss is expected in operating earnings (ebitda), an improvement on the February guidance, and Me Today products will be launched in Southeast Asia with distribution agreements in Singapore, Malaysia, Thailand and Vietnam.
Source: Business Desk
Australian Market Report
Ahead of the local open SPI futures were 8 points higher at 8882.
- close [Morningstar with AAP]: Australia's share market has lifted for a second straight session on hopes the US and Iran can strike a deal to end the conflict in the Persian Gulf.
The S&P/ASX200 gained 84.5 points on Thursday, up 0.96 per cent to 8,878.1, as the broader All Ordinaries advanced 90.9 points, or 1.01 per cent, to 9,107.
Miners charged higher on the back of stronger metal prices while energy and utilities stocks dropped following reports Iran was mulling a US peace deal that could lead to the gradual reopening of the Strait of Hormuz.
But market optimism around the reports could prove premature, RBC Capital Markets head of global commodity strategy Helima Croft said.
"Once again, another pre-market headline based on White House sourcing has sent oil sharply lower," Ms Croft said.
"However, it remains far from clear that there is any material movement toward reopening the Strait of Hormuz, or if we are instead stuck in a rebranded 'ceasefire with no oil' purgatory for the time being."
As Brent crude prices hovered about $US100 a barrel, Woodside (down 4.2 per cent), Santos (down 3.3 per cent) and Origin (down 2.6 per cent) sold off.
Refinery operator Ampol was down 2.3 per cent, while competitor Viva tumbled 5.1 per cent after director Scott Wyatt unloaded more than $600,000 in stock.
Mega miners BHP, Rio Tinto and Fortescue each gained more than 3.2 per cent, with iron ore futures trading at 19-month highs near $US111 a tonne.
Gold miners were also strong as the precious metal lifted to $US4,714 ($A6,511) an ounce, supporting names such as Evolution and Northern Star, which jumped more than six and four per cent respectively.
Lynas Rare Earths, South32 and PLS, formerly Pilbara Minerals, also advanced on improving sentiment and higher commodity prices.
Shares in blasting solutions and mining chemicals company Orica rocketed 7.6 per cent higher to $22.50 after it posted record earnings in the six months to March, bolstered by commodity prices and minimal disturbance from the Persian Gulf crisis.
The heavyweight financials segment rose 0.4 per cent, with three of the big four banks in the green, as NAB eased 1.3 per cent to $39.51 after going ex-dividend.
Beaten-down health care stocks fell to a new 2026 low, with the sector trading at its lowest value since February 2018.
In company news, Tabcorp shares tanked more than 23 per cent after AUSTRAC launched an investigation over "serious concerns" about the group's compliance with anti-money laundering obligations.
Gaming machine group Light & Wonder fell more than eight per cent after a disappointing trading update, further weighing on the consumer discretionary sector.
ARN Media recovered early losses to finish the session with a 1.9 per cent improvement after its trading update revealed an advertising boycott of its Kyle and Jackie O radio show cost the company $26.4 million.
The Australian dollar is buying 72.50 US cents, up slightly from 72.49 US cents on Wednesday at 5pm.
ON THE ASX:
The S&P/ASX200 jumped 84.5 points, or 0.96 per cent, to 8,878.1
The broader All Ordinaries fell 90.9 points, or 1.01 per cent, to 9,107
The NZX 50 Lost -57.18 points (-0.43%) to 13213.43
Companies Holding Annual General Meeting (ASX 300):
QBE Insurance Group Limited
TPG Telecom Limited
Companies commencing Ex-Dividend Trading Today (ASX 300):
Westpac Banking Corporation
Overseas Market Report
[Morningstar with Dow Jones]:
U.S. stocks ended lower. The DJIA slipped 0.6% to 49,596.97, the S&P 500 fell 0.4% to 7,337.11 and the Nasdaq dropped 0.1% to 25,806.20.
Among S&P 500 companies, the top three gainers were Datadog Inc DDOG surging 31.29%, Fortinet Inc FTNT jumped 20.20%, and Axon Enterprise Inc AXON lifted 10.55%.
The biggest decliners were Zoetis Inc ZTS which dropped 21.50%, Tapestry Inc TPR fell 12.30%, and Teradyne Inc TER lost 7.42%.
Asia
Chinese shares closed higher. The benchmark Shanghai Composite Index added 0.5% to 4,180.09 and the Shenzhen Composite Index gained 1.2% to 2,872.24.
Hong Kong shares ended higher. The benchmark Hang Seng Index lifted 1.6% to 26,626.28.
Japanese shares ended higher. The Nikkei Stock Average rose 5.6% to 62,833.84.
India shares ended lower. The BSE SENSEX fell 0.1% to 77,844.52.
Europe
Stocks in the U.K. finished lower. The FTSE 100 Index dropped 1.5% to 10,276.95. In Europe, shares closed lower. The Germany's DAX fell 1% to 24,663.61, and the France's CAC 40 dropped 1.2% to 8,202.08
