Market Announcements
Market Summary
The New Zealand share market has closed up after a rally late yesterday pushed it to a small gain. The S&P/NZX 50 Index closed up 0.02% or 2.38 points on 13,570.86 after 42.7 million shares worth $157.5m were traded. The S&P/NZX 20 index was also flat, closing at 7,771.07 points, up 0.03%, while the S&P/NZX 10 index ended the day at 12,914.61, rising 0.20%. There were 81 gainers and 55 decliners on the main board.
A significant mover was Ryman Healthcare, following its second-quarter trading update, with its share price rising 3.56% or 10c to $2.91 after 1.59m shares traded on a turnover of $4.6m. The retirement village and aged care company reported a drop in half-year sales, but says it is tracking ahead of its full-year guidance target. Summerset Group, which rose sharply on Wednesday, gave back some of its gains, falling 2.13% or 25c to $11.50 on turnover worth $1.9m.
Fletcher Building’s share price also fell 6c to $3.35, while Property for Industry fell 2.67% or 7c to $2.55. Elsewhere, Mercury NZ saw its share price fall 18c or 2.65% to $6.60 on turnover worth $7.5m, giving back all of its gains made on Wednesday.
In other news, Australian mining company Uvre announced it would be listing on the NZX next week, on Oct 16.
Major US indices closed at record highs again on Wednesday, as markets look past the US government shutdown and focus on the artificial intelligence boom and expected Federal Reserve interest rate cuts. Major indices remain near record levels, with analysts attributing this to enthusiasm about artificial intelligence and expected Federal Reserve interest rate cuts. Gold, considered a safe investment in times of uncertainty, also reached an all-time high of nearly US$4060 an ounce on Wednesday. Silver also rose close to a record high.
Source: Business Desk
Australian Market Report
Ahead of the local open SPI futures were 24 points lower at 8950.
- close [Morningstar with AAP]: Australia's share market has notched its first positive close for the week, buoyed by the materials sector and a rebound in retail stocks.
The S&P/ASX200 gained 22.2 points on Thursday, up 0.25 per cent, to 8,969.8, as the broader All Ordinaries rose 31.8 points, or 0.34 per cent, to 9,276.6.
Despite fresh records overnight on Wall Street and indices like the Nikkei and South Korea's KOSPI, the local bourse is still struggling to find new highs, the path forward further clouded by the ongoing US government shutdown.
"We're kind of flying blind a little bit into the next Fed meeting right now," Capital.com senior market analyst Kyle Rodda told AAP.
In absence of key macroeconomic data, the best performing segments in global markets had been centred on narratives in big tech, artificial intelligence and AI infrastructure, he said.
"Financials, consumer discretionaries and kind of real economy stocks aren't doing quite as well."
Seven of 11 sectors ended the day higher, but raw materials stocks were a cut above the rest, rallying 1.8 per cent on the back of strong performances in copper and rare earths producers.
Supply disruptions have sparked a rally in copper prices while China, the world's biggest rare earths producer, has announced further restrictions on exports and equipment.
ASX-listed gold miners made some modest improvements after the precious metal was quickly bought up after it eased from an all-time high of $US4,059 ($A6,144) an ounce.
Gold producers have been slightly disconnected from the underlying commodity's velocity this week as investors weigh the sustainability of its record-smashing run.
"There seems to be mania out there, to be perfectly frank," Mr Rodda said.
The heavyweight financials sector slumped 0.5 per cent, as three of the four big banks grinded lower.
NAB and Commonwealth bank each lost more than 1.2 per cent each, CBA shares now trading roughly 15 per cent short of June's $192 record.
The consumer staples sector posted its first gain in six sessions, tracking with Coles and Woolies for a 0.7 per cent lift, but the segment remains in correction territory (down 10 per cent) compared to its 2025 peak reached in August.
Energy stocks were sluggish, up less than 0.1 per cent as oil prices recovered late in the session after dipping on news of a Gaza peace deal.
Coal miners Yancoal and Whitehaven each rose more than one per cent, while uranium plays were mixed as Paladin gained 1.1 per cent, but Deep Yellow and Silex Systems fell behind.
With a lack of US data to drive global markets, local investors are counting down towards key inflation figures at the end of October for hints at the Reserve Bank's next interest rates decision, Betashares chief economist David Bassanese said.
"It's really going to dictate whether the RBA can not only cut rates in November, but whether they can cut rates at all, or if we are done with the rate cut cycle," he told AAP.
"I think we're not, but that's what the markets are debating at the moment."
The Australian dollar is stronger against the greenback, fetching 66.03 US cents, compared to 65.65 US cents on Wednesday at 5pm.
ON THE ASX:
The S&P/ASX200 gained 22.2 points, or 0.25 per cent, to 8,969.8
The broader All Ordinaries rose 31.8 points, or 0.34 per cent, to 9,276.6
The NZX 50 Lost -47.33 points (-0.35%) to 13523.53
Companies Holding Annual General Meeting (ASX 300):
Inghams Group Limited
Perenti Limited
Overseas Market Report
[Morningstar with Dow Jones]:
U.S. stocks ended lower. The DJIA fell 0.5% to 46,358.42, the S&P 500 dropped 0.3% to 6,735.11 and the Nasdaq slipped 0.1% to 23,024.63.
Among S&P 500 companies, the top three gainers were Albemarle Corp ALB surging 5.25%, Kenvue Inc KVUE jumped 4.73%, and Delta Air Lines Inc DAL lifted 4.29%.
The biggest decliners were Dell Technologies Inc DELL which dropped 5.21%, PulteGroup Inc PHM fell 4.90%, and AppLovin Corp APP lost 4.67%.
Asia
Chinese shares closed higher. The benchmark Shanghai Composite Index gained 1.3% to 3,933.97 and the Shenzhen Composite Index climbed 1.2% to 2,549.96.
Hong Kong shares ended lower. The benchmark Hang Seng Index dropped 0.3% to 26,752.59.
Japanese shares ended higher. The Nikkei Stock Average climbed 1.8% to 48,580.44.
India shares ended higher. The BSE SENSEX lifted 0.5% to 82,172.10.
Europe
Stocks in the U.K. finished lower. The FTSE 100 Index dropped 0.4% to 9,509.40. In Europe, shares closed mixed. The Germany's DAX added 0.1% to 24,611.25, and the France's CAC 40 dropped 0.2% to 8,041.36
