NZ Sharemarket Ends Up 1.3%

The New Zealand sharemarket bounced out of the Easter break with a surprising rally of more than 1% yesterday, while the brinkmanship over the Middle East conflict continued. The S&P/NZX 50 Index traded all day steadily and closed at 13,069.66, a gain of 167.51 points or 1.3%. The index has fallen some 3.8% so far this year. There were 98 gainers and 45 decliners on the main board with 37.5 million shares worth $120.4m changing hands.

Across the Tasman, the S&P/ASX 200 Index had risen 1.59% to 8,716.10 points at 6pm NZ time.   The ANZ World Commodity Price Index rose 4.1% in March, the second-highest month on record, with only March 2022 higher following the Russian invasion of Ukraine. ANZ said the Middle East conflict drove most commodity prices higher, except horticulture, which was between seasons.  Dairy prices in March rose 5.9% as importers increased purchases to secure supplies; meat and fibre were up 2.4%, and aluminium prices rose 9.8%.

Market leader Fisher and Paykel Healthcare led the way, rising $1.39 or 3.79% to $38.09 on trade worth $12.14m. Other stocks rebounding from recent weakness included Mainfreight, up $2.12 or 3.59% to $61.11; Freightways, gaining 26c or 2.09% to $12.70; Ebos Group, increasing 35c to $23.35; and Skellerup, rising 29c or 5.58% to $5.49. Meridian Energy was up 11c or 2.02% to $5.56; Vector gained 8c to $4.86; Spark improved 5c or 2.4% to $2.13; Tower collected 4.5c or 2.37% to $1.94; and Hallenstein Glasson added 24c or 2.42% to $10.14. Port of Tauranga gained 16c or 2.03% to $8.05; Vulcan Steel increased 25c or 3.76% to $6.90; Air NZ rose 2c or 4.6% to 45.5c; and Property for Industry was up 5c or 2.27% to $2.25.

In the technology sector, Vista Group rose 8.5c or 5.18% to $1.72, and ikeGPS increased 4.5c or 4.92% to 96c.

Summerset Group, up 3c to $8.93, reported 365 sales in the quarter ending March, with 177 new, an increase of 34%, and 188 resales, a gain of 19%, compared with the same period last year. Sales contracts increased 13% over the last four weeks. The retirement village operator said it is on track to build a further 650-700 homes in NZ and 100-150 in Australia this year.

The dual-listed banking groups ANZ and Westpac were up $1.14 (2.59%) to $45.19 and $1.10 (2.28%) to $49.30, respectively.

Infant formula supplier a2 Milk was down 14c to $11.26 after telling the market it has settled a shareholder class action with a payment of A$62m (NZ$75m), met with available insurance proceeds and had no impact on full-year 2026 earnings. The proceedings in the Victorian Supreme Court began in late 2021 and related to a2 Milk’s disclosures and earnings guidance for the 2021 financial year. The company said it made no admission of liability in reaching the settlement. AFT Pharmaceuticals increased 14c or 4.17% to $3.50 after telling shareholders in a March quarter investor update that full-year 2026 sales would be a record following double-digit growth across all markets, and it confirmed operating earnings guidance of $20m-$24m. AFT said it was on track for $300m revenue in the 2027 financial year, and had signed a new partnership for pain relief Maxigesic tablets in the US with Cost Plus, a pharmacy chain backed by billionaire Mark Cuban.

Carpet maker Bremworth declined 9.5c or 12.1% to 69c after telling the market an extension past July 1 was required for its scheme of arrangement with US flooring company Mohawk Industries. This followed the NZ Commerce Commission's move to extend its decision on the statement of unresolved issues to May 29.

KMD Brands fell 1.3c or 14.77% to 7.5c as its retail rights offer opened at 6c a share and closed on April 16. Other decliners were Synlait, down 1.5c or 3.41% to 42.5c; Napier Port, shedding 7c or 2.03% to $3.38; and Briscoe, decreasing 8c or 1.77% to $4.45.

Source: Business Desk

Ahead of the local open SPI futures were 1 points higher at 8738.

- close [Morningstar with AAP]: The local share market has backed off from an early rally, with oil prices inching higher before a US ultimatum to Iran to make a deal or face further attacks on civilian infrastructure.

The S&P/ASX200 rose 149.3 points on Tuesday, up 1.74 per cent, to 8,728.8, as the broader All Ordinaries gained 146.3 points, or 1.67 per cent, to 8,921.2.

The leading indices notched their highest closes in four weeks, but there could be more volatility ahead with the US vowing to expand attacks on Iranian energy infrastructure if the Strait of Hormuz - a choke point for a fifth of global oil supplies - isn't re-opened by Wednesday 10am AEST.

With the deadline for an escalation of US attacks already pushed back several times, investors were looking for real developments in the conflict over hypotheticals, IG market analyst Tony Sycamore said.

"The questions which remained unanswered last week are going to remain largely unanswered to a degree this week, it's just whether (US President Donald) Trump decides to escalate," Mr Sycamore told AAP.

"We're all hoping for the best, but by the same token, the repricing of markets is preparing for the worst and there could be a lot more to go in that in that area if it does go down the drain rapidly tomorrow morning."

The heavily-weighted basic materials and financials sectors buoyed the bourse, with both segments up more than 2.1 per cent.

Gold producers were broadly higher, as the precious metal hovered near $US4,641 ($A6,707) an ounce.

Mega miners BHP and Rio Tinto each gained around three per cent as iron ore futures edged above $US107.70 a tonne, their highest value since mid-January.

Three of the big four banks notched gains of 2.4 per cent or more, while ANZ lagged with a 1.7 per cent lift to $37.26 and as Macquarie shot 3.2 per cent higher.

The energy segment also gained ground, up 1.4 per cent as oil prices edged higher during the session.??

Woodside was the biggest beneficiary, up 2.5 per cent to $35.80 in a quiet session for coal producers and uranium stocks.

ASX-listed IT stocks trailed a strong lead from US tech stocks overnight, the segment soaring almost four per cent higher, helped by a nearly 12 per cent rally in data centre group NextDC on the back of a $1 billion hybrid securities offer backed by La Caisse.

The traditionally defensive consumer staples sector was the weakest performer, eking a less-than 0.1 per cent improvement as A2 Milk tumbled after reaching an in principle agreement to settle a shareholder class action relating to guidance disclosure claims.

Consumer cyclicals had a better day, jumping 1.4 per cent with some strong large cap performances, and a 18 per cent charge from Mexican-inspired fast food chain Guzman Y Gomez on the back of a strong sales update.

The Australian dollar is buying 69.19 US cents, up from 68.68 US cents on Thursday at 5pm before the Easter break.

All eyes remained on Middle East, with investors keenly awaiting Wednesday's deadline and whether it would bring conflict escalation or a pathway to peace, eToro market analyst Josh Gilbert said.

"This face-off is the single biggest variable across every asset class, from oil to equities, meaning investors should be bracing for a volatile few days ahead," Mr Gilbert said.

"There's real uncertainty around how long this conflict will continue, which is naturally rattling even the most seasoned investors."

ON THE ASX:

The S&P/ASX200 gained 149.3 points, or 1.74 per cent, to 8,728.8.

The broader All Ordinaries rose 146.3 points, or 1.67 per cent, to 8,921.2.

The NZX 50 added 15.98 points (0.12%) to 13085.64

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

Myer Holdings Limited

[Morningstar with Dow Jones]:

U.S. stocks ended mixed. The DJIA slipped 0.2% to 46,584.46, the S&P 500 climbed 0.1% to 6,616.85 and the Nasdaq gained 0.1% to 22,017.85.

Among S&P 500 companies, the top three gainers were Paramount Skydance Corp PSKY surging 10.81%, UnitedHealth Group Inc UNH jumped 9.31%, and Humana Inc HUM lifted 7.94%.

The biggest decliners were Axon Enterprise Inc AXON which dropped 9.76%, The Trade Desk Inc TTD fell 6.78%, and The Campbell's Co CPB lost 5.20%.

Asia

Chinese shares closed higher. The benchmark Shanghai Composite Index rose 0.3% to 3,890.16 and the Shenzhen Composite Index lifted 0.8% to 2,518.39.

Hong Kong shares ended lower. The benchmark Hang Seng Index dropped 0.7% to 25,116.53.

Japanese shares ended flat. The Nikkei Stock Average was unchanged at 53,429.56.

India shares ended higher. The BSE SENSEX climbed 0.7% to 74,616.58.

Europe

Stocks in the U.K. finished lower. The FTSE 100 Index fell 0.8% to 10,348.79. In Europe, shares closed lower. The Germany's DAX slipped 1.1% to 22,921.59, and the France's CAC 40 dropped 0.7% to 7,908.74