Jarden Brief: US markets in the red, Nasdaq down 2.4%
4 May, 2021 08:49 PM
7 minutes to read
US stocks were struggling this morning. Photo / Getty Images
NZ Herald
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New Zealand: On Tuesday, the NZX50 recorded a strong performance, increasing 1.1 per cent.
Ahead of the Global Dairy Trade Auction, milk powder producer A2 Milk and dairy company Synlait Milk increased 3.4 per cent to $7.99 and 3.0 per cent to $3.39 respectively, closing as the top performers of the day. Napier Port Holdings (+2.3 per cent to $3.57) rounded out the top performers, correcting some of the losses from Monday s session.
The GDT auction this morning saw fats down after additional butter supply was announced last week. AMF was down 4.2 per cent and butter was down 12.1 per cent. The large increases seen in US corn prices in the past 3-4 months have pushed US SMP prices higher and supported the values seen in other origins, including New Zealand. WMP was up 0.7 per c
The value of new home loan commitments shot to a record high of $30.2 billion in March, the Australian Bureau of Statistics reports.
Investor lending spiked 12.8% over the month to $7.8 billion, as Australia’s housing market continued its jaw-dropping run.
Loan commitments for housing construction fell 14.5%, as the $2.5 billion HomeBuilder scheme drew to a close.
Australian homebuyers signed on for a record $30.2 billion in new lending in March, as some housing markets soared to never-before-seen highs.
New data from the Australian Bureau of Statistics (ABS) shows owner-occupiers alone made $22.4 billion of new loan commitments over the month, a 3.3% increase from February, and a 55.6% jump from March 2020 levels.
The Australian share market finished session higher on Tuesday, 04 May 2021, after the Reserve Bank of Australia announced its decision to maintain its current policy settings, including keeping the cash rate at 0.1%.
At closing bell, the benchmark S&P/ASX200 added 39.06 points, or 0.56%, to 7,067.86. The broader All Ordinaries advanced 36.71 points, or 0.5%, to 7,323.54.
Shares of Treasury Wine Estates were up after announcement it inked a deal with America s second-largest drinks distributor Republic National Distributing Company (RNDC) to expand the reach of its wine labels throughout the U. S. market.
Shares in Super Retail Group gained after the outdoors retailing collective reported a 28% rise in total like-for-like sales across the first 44 weeks of the 2021 financial year. Sales also increased 26% from last year.