The NZX achieved a significant milestone today, closing above 9000 points for the first time. We also saw Orion Healthcare jump 34% after shoring up their balance sheet. Ebos continued their upward trajectory after increasing their revenue by $1b. Synlait and a2 announced a new 5 year agreement.
New Zealand shares rose on Friday as Fletcher Building reassured its shareholders and A2 Milk played catchup. The NZX50 index climbed 93 point to 8,998.78, on turnover of $134 million. Fletcher Building rose 28c to $6.88. “No bad news is good news for a number of investors, having seen successive earnings downgrades and profit warnings over the past year,” Hamilton Hindin Greene investment adviser Tom McBride says. Fletcher unveiled a new operating model, coming into force from July 1, which...
New Zealand shares fell today, as Pushpay emerged from its trading halt and co-founder Elliot Crowther's sale of his entire stake in the payments software company. The NZX50 index sank 111 point to 8,863.24, on turnover of $242 million. Pushpay closed down 24c, or 5.5%, to $4.13. The stock was put in a trading halt yesterday afternoon as Mr Crowther announced his resignation from the company, effective Thursday, and the sale of his 9.03% stake, underwritten at $4.04 per share against...
Today Grant Davies talks to Grant Walker about the impact of a predicted rise in Interest Rates by the Federal Reserve, and what that will do to the share market. They also touch on the Tegel takeover offer, and the run of good results we had in May. Grant Davies also explains the impact of the new CEO appointment at Vodafone, and the effect that had on Spark and Sky TV on the market today.
New Zealand shares had a slight fall today, after a mixed bag of company results announcements. The S&P NZX 50 index was down nine points to 8635 on turnover of $132 million. Hamilton Hindin Greene investment adviser Tom McBride says the spotlight was on Orion Health’s “disappointing” result. The company reported a full-year loss of $40.4 million, which was in line with analyst expectations. Last year, it lost $33m. Later in the day, it said it is in talks with...
An MSCI index reshuffle sent shares for Fletcher Building soaring after it survived, but Mercury Energy shares fell as it was culled from the index. Overall, the NZX50 index dipped 4.45 points to 8,708.78, on turnover of $218 million. “Across the board what we’re seeing with these index changes is the influence of passive money in the market,” says Hamilton Hindin Greene investment adviser Grant Davies “The tracking of the index actually leading to share price movements makes it slightly...
Tom McBride talks to Grant Walker from the NBR about today's market news. We had more bad news for Fletcher Building, down 1.7% as SkyCity Entertainment are seeking damages for delays in the construction of the SkyCity International Convention Centre in Auckland. Meridian Energy have appreciated 1.19% for the day on the back of the NZ Aluminium Smelters (NZAS) signing a new contract with Meridian Energy for the supply of an additional 50MWh per hour. Moa have partnered with Constellation...
Grant Davies talks to Grant Walker from the NBR about today's market news. We had more bad news for AMP, down 4% as the Royal Commission in Australia continues revealing revelations of inappropriate conduct throughout the organisation. The shares are off 15% since news started to filter out last Tuesday (17th of April). Fletcher Building also continues to consolidate as their capital raising continues. Vocus have also decided to pull the sale of their New Zealand telecommunications assets citing that...
New Zealand shares stayed just above water today, with wins from Pushpay and IkeGPS overcoming further losses for Orion Health. The S&P/NZ50 Index gained 15.64 points, or 0.18%, to 8469. Turnover was $97 million. Orion Health was down 6.25%, to 75c, marking a slight turn into the red after yesterday’s 80c finish. Today’s close ends its surge on the back of trade sale speculation reported by NBR and that the company later confirmed was a possibility. “The market will certainly...
New Zealand shares rose today, with Green Cross Health and Meridian Energy gains overcoming a downgrade for Orion Health. The S&P/NZ50 Index gained 10.86 points, or 0.13%, to 8329. Turnover was $118 million. “We’ve had a poor trading day for Orion Healthcare, which had a negative revenue update this morning and a bit of a change in strategy so the market (is) not treating that too kindly,” Hamilton Hindin Greene investment adviser Grant Davies says. Orion Health led the index...
