Things advisers should be doing at claim time.NZ market gains on back of KMD's 'impressive result' » ![]() Tags: Market Close « NZ stocks slump in line with global markets Skellerup Holdings rebounded 18c or 3.73% to $5 Sk圜ity was up 5c or 2.16% to $2.36% Steel & Tube improved 3c or 2.63% to $1.17 Rakon rose 5c or 5.88% to 90c My Food Bag added 2.5c or 12.5% to 22.5c ikeGPS collected 3c or 3.53% to 88c. NZME was down 4c or 3.85% to $1 AFT Pharmaceuticals fell 14c or 4% to $3.36 Gentrack declined 10c or 3.61% to $2.67 and Green Cross Health decreased 3c or 2.14% to $1.37. Other decliners were Scales Corp down 10c or 3.23% to $3 Serko decreasing 7c or 2.92% to $2.33 Smartpay Holdings shedding 3c or 2.56% to $1.14 Eroad falling 5c or 6.25% to 75c and Winton Land down 5c or 2.5% to $1.95. Retailers Briscoe Group declined 11c or 2.24% to $4.80 Hallenstein Glasson was up 3c to $5.35 and KMD Brands gained 1c to 99c on the eve of reporting its latest financial result. Retirement village operators Ryman Healthcare decreased 9c to $5.03, and Arvida Group was down 2c or 2.02% to 97c. Synlait was down a further 19c or 7.01% to $2.52, and a 2 Milk declined 8c to $6.25, falling from $7.40 two weeks ago. The strong run by Fonterra Shareholders’ Fund ended with a fall of 18c or 5.07% to $3.37. Market leader Fisher and Paykel Healthcare was up 27c to $25.15 Auckland International Airport gained 12c to $8.82 Fletcher Building added 5c to $4.29 and Chorus collected 6c to $8. Property for Industry declined 2.5c to $2.20, and Precinct Properties decreased 1.5c to $1.255.Įbos Group shed 44c to $44.47 Mainfreight decreased $1.33 or 1.93% to $67.67 Spark was down 6c to $4.84 Napier Port declined 6c or 2.22% to $2.64 and Restaurant Brands fell 20c or 3.13% to $6.20. Goodman Property Trust, down 3.5c or 1.7% to $2,025, told the market it expects a $238m or 4.7% reduction in the valuation of its $4.8 billion portfolio for the 2023 financial year ending March. Property stocks on both sides of the Tasman are trading at 20 to 30% below their net tangible asset values.Ĭontact Energy fell 16c or 2.11% to $7.42 Meridian declined 10c or 1.94% to $5. The dual-listed banks are bouncing back, ANZ gaining 45c or 1.86% to $24.58, and Westpac rising 97c or 4.31% to $23.49.Īt home, the energy sector in the NZX 50 was down 0.68% and real estate declined 0.77%. ![]() Wall Street also rallied overnight with Dow Jones Industrial Average rising 1.2% to 32,244.58 points S&P 500 up 0.89% to 3951.57 and Nasdaq Composite gaining 0.39% to 11,675.54.Īcross the Tasman, the S&P/ASX 200 Index had risen 0.9% to 6960.8 points at 6pm NZ time. Most analysts now expect the Federal Reserve to raise interest rates by 25 basis points when it makes its next announcement on Thursday morning NZ time. “There doesn’t look to be contagion to the rest of the financial sector, but with liquidity being strained it may result in a pause in the US Federal Reserve quantitative tightening,” he said.
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