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NZX inches up 0 35 per cent, early boost from Wall Street wanes

Among the leaders on the NZX, A2 was the main heavyweight stock doing well. Shares in A2 closed up 5.47 per cent at $10.20, recovering after investors sold the stock off in the wake of a weak first-half profit. Of concern had been the effect of border closures on A2’s cross-border, or daigou, trade which relied on tourists and international students shipping its products to China. LAWRENCE SMITH/Stuff A2 was the main heavyweight stock on the doing well on the NZX. “A bit of vaccine news, and the potential reopening of borders – it’s hard to put a date on it but that day does seem to be coming – that’s positive for A2 with its daigou channel,” said McIntyre.

Market close: Bargain hunters lift stocks after weak session

My Food Bag s strong marketing will help share offer, broker says

SUPPLIED My Food Bag is selling shares at $1.85 each, valuing the meal kit delivery company at about $450 million. My Food Bag’s well-known brand and extensive marketing is expected to help the $450 million meal kit delivery company get enough support to list on the sharemarket next week, even though some brokers and investors don’t think it stacks up. The company wants to raise as much as $342m through an initial public offering and list on the NZX and ASX on March 5. It’s enlisted the help of three broker firms, its mailing lists of current and past customers, and advertisements on TV and YouTube to help it market the sale.

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