Market Announcements
Market Summary
The New Zealand sharemarket took a cautious approach yesterday while offshore stock indices rose on hopes that a Middle East peace deal could still be reached. Following another strong day on Wall Street, the S&P/NZX 50 reached a morning high of 13,137.7 points but fell consistently in the afternoon until a late rise in the brokers’ matching session. The index closed at 13,017.26 points, down 2.92 points (0.02%). There were 92 gainers and 42 decliners on the main board with 34.7 million shares worth $126.4m changing hands.
US stocks rose after US President Donald Trump said Iran still wants to make a deal following a deadlock in negotiations last weekend. “We’ve been called by the other side … they’d like to make a deal very badly,” Trump said. The blockade of the Hormuz Strait has been imposed, but the US said it will not block ships using the strait to reach non-Iranian ports. Global investment manager BlackRock raised its outlook for US equities, saying that a “contained” macro impact from the Middle East war, as well as solid corporate earnings, could create a fertile ground for future gains.
Across the Tasman, the S&P/ASX 200 Index was up 0.63% to 8,982.4 points at 6pm NZ time, and the Japanese Nikkei 225 had increased 2.28%. The Brent Crude oil price fell below US$100 (NZ$170.23) a barrel, trading at US$98.57.
At home, Chorus was down 20c or 2.08% to $9.41; Mainfreight decreased 44c to $58.20; Gentrack shed 13c or 2.05% to $6.22; and South Port NZ declined 29c or 3.52% to $7.96.
A2 Milk was down a further 27c, or 2.75%, to $9.55 after downgrading its full-year earnings guidance due to supply chain issues that have resulted in constrained stock levels for sale in the fourth quarter.
Other decliners were Westpac, down $1.19 or 2.32% to $50.15; Foley Wines, falling 3c or 5.56% to 51c; and Third Age Health, decreasing 9c or 1.86% to $4.75. Fisher and Paykel Healthcare was up 23c to $38.05; Fonterra Shareholders’ Fund increased 23c or 3.74% to $6.38; Skellerup gained 11c or 1.98% to $5.66; Turners Automotive added 14c to $8.65; and Argosy Property improved 2c or 1.79% to $1.14.
Green Cross Health, owner of Unichem and Life Pharmacies, rose 26c, or 20.97%, to $1.50 after confirming it is in discussions about selling its medical division, The Doctors. The interested party is understood to be Sydney-based Adamantem Capital.
Scales Corp increased 16c or 2.74% to $6 after confirming its full-year net profit guidance of $50m-$55m at its annual meeting. Scales said the global proteins division was performing strongly, and picking and packing for the latest apple season was well advanced, with an expected crop of 3.5m tray cartons.
Michael Hill increased 3c, or 6.82%, to 47c after telling the market, during an investor day, that group sales were up 3.8% in the third quarter of the 2026 financial year and continued to build on the momentum from the first half.
Technology stocks Vista Group increased 12c or 6.8% to $1.88; Serko was up 5.5c or 3.06% to $1.85; and Blackpearl Group gained 2c or 2.6% to 79c. Retirement stocks Oceania Healthcare increased 4.5c or 6.47% to 74c; and Ryman Healthcare was up 4c or 1.97% to $2.07. Tourism Holdings rebounded 12c or 5.74% to $2.21; Sky TV was up 13c or 4.25% to $3.19; Napier Port increased 13c or 3.68% to $3.66; and NZME added 2.5c or 2.34% to $1.09. Winton Land, down 1c to $1.79, has received fast-track approval to develop the Ayrburn Screen Hub near Arrowtown, which will include studio buildings and 201 units for film workers and visitors.
Source: Business Desk
Australian Market Report
Ahead of the local open SPI futures were 35 points higher at 9010.
- close [Morningstar with AAP]: The local share market has rebounded as investors cling to hopes the US and Iran might soon return to the negotiating table rather than resume their war.??
The benchmark S&P/ASX200 index rose 44.8 points, or 0.5 per cent, to 8,970.8 on Tuesday, while the broader All Ordinaries gained 51.7 points, or 0.57 per cent, to 9,165.1.
In morning trade the ASX200 rose back above 9,000 for the first time since March 3, but gave back some of those gains in the afternoon to finish a touch below Thursday's closing level.??
In Washington, President Donald Trump told reporters outside the White House that Iran had been in touch after peace talks collapsed over the weekend.
"I can tell you we've been called by the other side. They'd like to make a deal very badly," the president claimed.
"We've been called this morning by the right people, the appropriate people."??
Wall Street rallied in response, with the S&P500 rising more than one per cent to recoup all of its losses since the war began on February 28.
But IG market analyst Tony Sycamore said domestic headlines had conspired to limit the bourse's advance.
Speaking in New York, Reserve Bank of Australia deputy governor Andrew Hauser warned the war could create a "nightmare" scenario of re-accelerating inflation with slowing economic growth.
Investor sentiment may have also been rattled by a trio of long-running surveys released on Tuesday that reported sharp declines in both Australian business conditions and consumer confidence, with the magnitude of the drop only equalled by the onset of COVID-19 and the global financial crisis.
Still six of the bourse's 11 sectors finished higher on Tuesday, while five ended lower.??
The tech sector was the biggest mover, rocketing 3.4 per cent higher, as Wisetech Global added 3.8 per cent, Xero gained 3.9 per cent and Megaport grew 4.5 per cent.
In the heavyweight mining sector, BHP rose 3.2 per cent to a six-week high of $56.10 after officials from China's state iron ore buyer reportedly eased restrictions on buying BHP's cargoes ?following a visit by the company's incoming CEO, Brandon Craig.
Fortescue climbed 1.6 per cent to $20.60, Rio Tinto gained 1.3 per cent to $174.29 and South32 added 1.1 per cent to $4.67.
Goldminers were mostly lower even as the precious metal changed hands for $US4,800 an ounce, up about $35 from Monday.
Northern Star dipped 0.1 per cent, Evolution slipped 0.2 per cent and Newmont slid 1.7 per cent.
In the financial sector, Westpac dropped 2.6 per cent to $41.48 after signalling its markets division would deliver lower income stemming from the war with Iran.
The other big banks were mixed, with ANZ dropping 1.0 per cent to $38.46 and NAB subtracting 0.6 per cent to $44.69, while CBA added 0.2 per cent to $183.52 and Macquarie climbed 3.7 per cent to $232.
In the energy sector, uranium developers posted strong gains, with Deep Yellow climbing 9.0 per cent, Boss Energy adding 7.8 per cent and Lotus Resources growing 9.7 per cent.
The successful start-up of a new nuclear reactor in South Korea capable of supplying 1.7 per cent of the country's total power generation may have boosted sentiment.
Woodside and Santos, meanwhile, dropped 0.6 per cent and 0.9 per cent, respectively, as Brent crude slipped back under $US100 a barrel.??
Brent was trading at $98.90 around 5pm, while the Australian dollar was changing hands at 70.96 US cents, from 70.44 US cents at 5 pm on Monday.
Earlier on Tuesday, the Aussie breached 71 US cents for the first time since mid-March, climbing as high as 71.02 US cents.
ON THE ASX:
The S&P/ASX200 gained 44.8 points, or 0.5 per cent, to 8,970.8.
The broader All Ordinaries 51.7 points, or 0.57 per cent, to 9,165.1.
The NZX 50 added 36.17 points (0.28%) to 13053.43
Overseas Market Report
[Morningstar with Dow Jones]:
U.S. stocks ended higher. The DJIA lifted 0.7% to 48,535.99, the S&P 500 gained 1.2% to 6,967.38 and the Nasdaq lifted 2% to 23,639.08.
Among S&P 500 companies, the top three gainers were Robinhood Markets Inc HOOD surging 10.35%, Micron Technology Inc MU jumped 9.17%, and Delta Air Lines Inc DAL lifted 6.94%.
The biggest decliners were Akamai Technologies Inc AKAM which dropped 6.50%, APA Corp APA fell 6.22%, and Wells Fargo & Co WFC lost 5.69%.
Asia
Chinese shares closed higher. The benchmark Shanghai Composite Index gained 1% to 4,026.63 and the Shenzhen Composite Index added 1.4% to 2,704.43.
Hong Kong shares ended higher. The benchmark Hang Seng Index climbed 0.8% to 25,872.32.
Japanese shares ended higher. The Nikkei Stock Average rose 2.4% to 57,877.39.
India shares ended lower. The BSE SENSEX slipped 0.9% to 76,847.57.
Europe
Stocks in the U.K. finished higher. The FTSE 100 Index lifted 0.2% to 10,609.06. In Europe, shares closed higher. The Germany's DAX added 1.3% to 24,044.22, and the France's CAC 40 gained 1.1% to 8,327.86
