Market Announcements
Market Summary
The New Zealand sharemarket closed down on Wednesday as healthcare giants Fisher & Paykel Healthcare and Infratil lost ground, while Sky TV continued to lift on Tuesday’s acquisition news. On the main board, the S&P/NZX 50 Index closed down 0.31% or 39.68 points, falling to 12,794.06, with 33.4 million shares changing hands to the value of $119.1m. The S&P/NZX 20 index closed at 7,493.76, down 0.37%, while the S&P/NZX 10 index ended the day at 12,494.02, falling 0.55%. There were 72 gainers and 64 decliners on the main board.
NZ’s largest stock, Fisher & Paykel Healthcare, fell for a second day after it hosted an investor day in Melbourne,. Fisher & Paykel Healthcare shares fell 28c to $36.41, after 328,025 shares changed hands to the value of $11.9m. Meanwhile, Infratil's share value fell 2.45% to $11.17, after 1,057,466 shares changed hands for a value of $11.8m.
Sky TV continued its positive momentum following the news that it had agreed to purchase TV3 for $1 on a cash-free, debt-free basis. On Wednesday, analysts at fund manager Octagon said the business will be worth 35c per share to its new owner, or just over $48m. Sky TV’s share price rose 6c to $3.12, after 1,068,866 shares changed hands, valued at $3.3m.
The Nasdaq retreated from a record on Tuesday on a mixed day for stocks as markets looked ahead to upcoming earnings reports from Google parent Alphabet and Tesla - the first of Wall Street’s “Magnificent Seven” equities to report this season.
Source: Business Desk
Australian Market Report
Ahead of the local open SPI futures were 19 points higher at 8582.
- close [Morningstar with AAP]: The Australian share market has extended its gains as the major banks snapped their losing run and miners continued to soar.
The benchmark S&P/ASX200 index on Wednesday gained 60 points, or 0.69 per cent, to 8,737.2, while the broader All Ordinaries rose 59.9 points, or 0.67 per cent, to 9,001.4.
Materials were the strongest of 10 of the 11 ASX sectors in the green, with iron miners moving higher for the third session this week, bolstered by reforms to China's steel industry.
BHP gained 0.8 per cent to $41.85, Rio Tinto climbed 1.0 per cent to $119.47 and Fortescue rose 2.3 per cent to $18.21.
Iluka Resources rose more than three per cent after achieving the full-year production guidance for zircon by June 30.
Major banks rebounded after a shaky start to the week, with the CBA turning its biggest one-day drop since early April into a 0.51 per cent rise, to $173.30.
Westpac moved 1.4 per cent higher to $33.11, ANZ climbed 2.5 per cent to $30.57, while NAB finished almost flat at $37.20.
Overseas, US president Donald Trump announced a trade deal with Japan in a Truth Social post overnight that had a positive impact on local trading.
The deal would result in Japan investing $76 billion into the US, lifting crude oil and Nikkei's 225 index.
While the details of the trade deal were limited and there might be some disagreement from the Japanese side, its impact appeared to be positive, IG market analyst Tony Sycamore said.
"Reaching an agreement there would significantly help to defuse the impact and lessen the importance of the August 1 deadline," he said on Wednesday in relation to a timeframe on reaching tariff deals.
In the energy sector, Woodside had climbed 1.5 per cent to $25.21 after Australia's largest oil and gas producer announced second-quarter production was up two per cent from the first quarter.
Woodside also announced its $16 billion Scarborough project gas project 375km off the coast of Western Australia was 86 per cent complete and on track to deliver its first LNG cargo in the second half of 2026.
Ampol grew 3.3 per cent to $27.77 as the petrol company said its convenience retail business had continued its track record of growing earnings in the first half.
Karoon Energy rose 1.6 per cent to $1.965 with the Brazil-focused oil and gas producer announcing CEO Julian Fowles would depart by mid-2026.
Paladin Energy dropped 1.3 per cent as the uranium miner announced a 33 per cent quarter-on-quarter rise in production at its Langer Heinrich mine in Namibia.
In health care, Telix Pharmaceuticals slid 15.1 per cent to $21.32 as US Securities and Exchange Commission issued the radiopharmaceutical company with a subpoena seeking information about disclosures related to the development of the company's prostate cancer therapies.
The Australian dollar was buying 65.65 US cents, from 65.14 US cents about 5pm on Tuesday.
ON THE ASX:
The benchmark S&P/ASX200 index on Wednesday gained 60 points, or 0.69 per cent, to 8,737.2
The broader All Ordinaries rose 59.9 points, or 0.67 per cent, to 9,001.4.
The NZX 50 added 8.26 points (0.06%) to 12802.32
Companies Holding Annual General Meeting (ASX 300):
Macquarie Group Limited
Overseas Market Report
[Morningstar with Dow Jones]:
U.S. stocks ended higher. The DJIA gained 1.1% to 45,010.29, the S&P 500 lifted 0.8% to 6,358.91 and the Nasdaq rose 0.6% to 21,020.02.
Among S&P 500 companies, the top three gainers were Lamb Weston Holdings Inc LW surging 16.11%, GE Vernova Inc GEV jumped 14.77%, and TE Connectivity PLC TEL lifted 11.87%.
The biggest decliners were Enphase Energy Inc ENPH which dropped 14.16%, Fiserv Inc FI fell 13.80%, and Texas Instruments Inc TXN lost 13.34%.
Asia
Chinese shares closed mixed. The benchmark Shanghai Composite Index was unchanged at 3,582.30 and the Shenzhen Composite Index dropped 0.5% to 2,177.21.
Hong Kong shares ended higher. The benchmark Hang Seng Index lifted 1.6% to 25,538.07.
Japanese shares ended higher. The Nikkei Stock Average rose 3.5% to 41,171.32.
India shares ended higher. The BSE SENSEX gained 0.7% to 82,726.64.
Europe
Stocks in the U.K. finished higher. The FTSE 100 Index lifted 0.4% to 9,061.49. In Europe, shares closed higher. The Germany's DAX rose 0.8% to 24,240.82, and the France's CAC 40 added 1.4% to 7,850.43
