Sharemarket flat after touching record
S&P/NZX 50 Index closes down 0.07 per cent after hitting a new intraday high
New Zealand shares touched a new record as Air New Zealand rose to a 16-year high, but finished the day flat as weaker blue chip stocks including Ryman Healthcare, Spark New Zealand and Auckland International Airport weighed on the bourse.
The S&P/NZX 50 Index dipped 5.5 points, or 0.07 per cent, to 7586.53, having touched a new intraday record of 7613.19. Within the index, 20 stocks rose, 21 fell and nine were unchanged. Turnover was $128 million.
Blue
Healthcare Spark
Auckland Airport Ryman
chip stocks fell 1.4 per cent to $8.35, dropped 1.3 per cent to $3.765 and declined 1.3 per cent to $6.95, while dual-listed lenders
Australia & New Zealand Banking Group Westpac Banking Corp
and decreased 0.8 per cent to $29.37 and 1 per cent to $31.89 respectively after Moody’s Investors Service downgraded its ratings for the big four Australian banks.
“Our market is just hovering along with very little news,” said Grant Williamson, a director at Hamilton Hindin Greene in Christchurch.
“We’re still in a bit of a range ... although we are pretty near the top of the range.”
the newest addition to the benchmark index, led the market lower falling 1.5 per cent to $3.28, while power company declined 1.5 per cent to $5.42, courier and information management firm
was down 1.2 per cent to $7.68 and transport fuels group
declined 1 per cent to $7.65. Stocks across Asia were mixed after Wall Street was buoyed by a recovery in tech stocks. Local tech companies and
were the biggest gainers on the NZX 50, up 3.6 per cent to $26 and 2.4 per cent to $6 respectively.
CBL Corp, Freightways Energy Xero International Air New Zealand Trustpower Z Vista Group
rose 1.9 per cent to $3.25, its highest level since early September 2001, and extending the 45 per cent rally so far this year. The national carrier yesterday reported another rise in monthly passenger numbers in its May operating metrics.
“Oil prices are still slipping on the international stage at the moment and that’s good news for the airlines,” Williamson said. rose 0.3 per cent to $4.08, a new record close, having benefited from a second upgrade to sales guidance last week. rose 1.3 per cent gained 1.3
A2 Milk Co Fletcher Building Ebos Group
to $7.97 and per cent to $17.90.
Port of Tauranga
gained 0.7 per cent to $4.52 after marking its millionth container handled in a year.
which owns a half share of the Northport operating company, was unchanged at $4.21 and was unchanged at $5.66.
Marsden Maritime Holdings, South Port New Zealand Kathmandu Holdings
gained 0.5
Group Scott Technology
to $2.85.
Warehouse
per cent to $1.96 and increased 1.5 per cent to $2.05 after data yesterday showed consumer confidence remained robust and households were still upbeat about making big-ticket purchases. Outside the benchmark index, rose 1.8 per cent US72.46c as at 5pm yesterday from US72.24c at 8am and from US72.78c on Monday. It was at A95.32c from A95.12c at 8am and from A95.50c on Monday. The New Zealand dollar was at 4.9498 Chinese yuan from 4.9570 yuan. It traded at €65.97c from
65.01c and 56.89 British pence from 56.96p on Monday. New Zealand’s two-year swap rate rose 1 basis point to 2.21 per cent while the 10-year swap rate fell 1 basis point to 3.14 per cent.