Market commentaries

WELLINGTON: New Zealand shares gained yesterday on regional strength, led higher by A2 Milk Co and Sky Network Television.

The S&P/NZX50 Index rose 32.57 points to 8933.89. Within the index, 31 stocks rose, 14 fell and five were unchanged. Turnover was $103.5 million.

Markets across Asia rose in the afternoon’s trading. At 5.30pm, Japan’s Nikkei 400 was up 0.3% and Hong Kong’s Hang Seng had risen 0.8%, while Australia’s ASX 200 was down 0.3%.

‘‘Obviously there was a pretty positive lead from the US overnight after a good result from Google which saw Wall Street climb,’’ Grant Davies, investment adviser at Hamilton Hindin Greene, said.

A2 Milk Co led the index higher, up 2.4% to $10.85. Sky Network Television rose 1.6% to $2.60, Heartland Bank gained 1.2% to $1.74, and Tourism Holdings advanced 1.1% to $6.26.

Genesis Energy was the worst performer, down 1.2% to $2.47. Stride Property fell 1.1% to $1.85 and Chorus dropped 0.8% to $4.285.

Outside the benchmark index, Abano Healthcare rose 2.9% to $8.88. It reported a 16% lift in annual profit on record revenue as its dental network improved performance in both Australia and New Zealand.

The company, which operates the Lumino The Dentists chain in New Zealand and Maven Dental Group in Australia, said profit rose to $12.6 million, or 50.95c per share, in the year to May 31, from $10.9 million, or 50.79c, in the prior year. Underlying profit increased 18% to a record $13.6 million.

‘‘It was pretty reasonable and in line with what the market was expecting, maybe slightly at the upper end,’’ Mr Davies said.

IkeGPS rose 1.8% to 58c. The unprofitable laser measurement tool maker said it had a solid first quarter and plans to ‘‘substantially accelerate’’ sales of its new IKE Analyze product.

ASXlisted Volpara Health Technologies was up 3.3% to A78c by late afternoon. It signed 28 new customers in the three months to June 30, the most in a quarter, and both its total contract value and its annual recurring revenue lifted.

The Australian sharemarket closed lower yesterday, hurt by banks, health care and consumerexposed stocks, including Woolworths and Wesfarmers.

The benchmark S&P/ASX200 index was down 18.2 points, or 0.29%, at 6247.6, while the broader All Ordinaries fell 13.5 points, or 0.21%, at 6341.7 points.

IG market analyst Kyle Rodda said there was lack of news to extend Tuesday’s 0.61% gain.

‘‘We lacked a lot of buying impetus. We didn’t get much excitement out of data through the inflation figures,’’ Mr Rodda said.

The consumer price index rose 0.4% in the three months to June, just short of market expectations of a 0.5% rise, taking the annual headline rate to 2.1%.

The nation’s big four banks all closed lower, amid future funding concerns, Mr Rodda said.

Westpac dropped 1.0% to $29.26, Commonwealth Bank fell 0.5% to $74.76, ANZ slipped 0.3% to $29.12 and National Australia Bank lost 0.25% to $28.13.

Retail giants Woolworths and Wesfarmers also gave up some of their recent gains, finishing 2.5% lower to $30.20 and 1.0% to $48.97, respectively.

Hearing implant maker Cochlear slumped 2.1% to $204.04 and biotechnology giant CSL fell 1.7% to $199.07.

Bucking the broader market was the materials sector, thanks to China’s recent stimulus news, Mr Rodda said.

China on Monday promised fiscal action to support the world’s secondlargest economy, which has buoyed global materials stocks around the world.

BHP Billiton jumped 2.2% to $33.75 and Rio Tinto rose 1.5% to $82.10. — BusinessDesk/AAP