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Market close: NZ sharemarket 'treading water' as it awaits company results


Market close: NZ sharemarket treading water as it awaits company results
30 Apr, 2021 05:54 AM
4 minutes to read
The NZ sharemarket edged ahead to end the week. Photo / File
NZ Herald
By: Graham Skellern
The New Zealand sharemarket ended the week on a quiet note and a small gain, with one fund managing saying it is treading water awaiting the latest mini-reporting season.
The S&P/NZX 50 Index edged ahead
15.92 points or 0.13 per cent to 12,731.13, after falling to an intraday low of 12,661.10. There were 66 gainers and 73 decliners over the whole market, with 56.54 million shares worth $192.11 million changing hands.
Matt Goodson, managing director of Salt Funds Management, said the market has been very quiet. One concern is that New Zealand could see high inflation measurements here and overseas over the next several months, with price increases all over the place. ....

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Market close: Covid-battered stocks make strong headway


Market close: Covid-battered stocks make strong headway
16 Mar, 2021 04:40 AM
4 minutes to read
SkyCity Entertainment rose 16c or 4.78 per cent to $3.51. Photo / 123RF
NZ Herald
By: Graham Skellern
The re-opening stocks – those battered by the Covid pandemic – continued to make strong headway as the more confident New Zealand sharemarket posted its sixth successive day of rises.
The S&P/NZX 50 Index gained
96.79 points or 0.77 per cent to 12,689.05, after reaching an intraday low of 12,584.85. There were 83 gainers and 61 decliners with 50.4 million shares worth $200.76 million changing hands.
Matt Goodson, managing director of Salt Funds Management, said it was a day investors were willing to take risks and pay for re-opening stocks. Some of them are having strong runs. ....

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Newly listed rural land company dips its toe in the water with first dairy farm purchase


NZ Rural Land Company is poised to make its first dairy farm purchase since listing in December.
New Zealand Rural Land Company has agreed to buy its first dairy farm in Southland since listing.
The company raised $75 million in an initial public offering and listed on the sharemarket in December, which together with debt gave it about $100m to buy rural land. At the time, the company said it was eyeing 21 dairy farms in the South Island, covering 9239 hectares.
On Monday it announced its first planned purchase, a 456 hectare dairy farm in Mokoreta, Southland for $10.4m. It has agreed to lease the farm to Southland dairy farmer Fortuna Group for 10 years for $515,667 a year, representing a 4.97 per cent lease yield after transaction costs. ....

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Market close: Sharemarket slips despite spark in energy stocks


Market close: Sharemarket slips despite spark in energy stocks
21 Dec, 2020 04:35 AM
4 minutes to read
NZ Herald
By: Graham Skellern
The New Zealand sharemarket slipped more than half a per cent as the holiday season kicked in – though a spark in the energy stocks and the latest travails of the milk companies provided plenty
of interest.
The S&P/NZX 50 Index drifted to 12,607.74, down 74.26 points or 0.59 per cent, on volume of 51 million shares worth $191.15 million There were 64 gainers and 83 decliners over the whole market which includes another debutant, New Zealand Rural Land Company.
Shane Solly, portfolio manager with Harbour Asset Management, said there wasn t a lot of volume and news on the market, and the holiday mood is definitely kicking in. ....

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NZ Rural Land Company has quiet NZX debut


Photo: 123RF
Its shares touched a high of $1.31 in early trading compared with the issue price of $1.25 in the recent share float, before settling at $1.28 with only small volumes being traded.
The company raised $75 million in the public share float, which along with debt will give it about $100m for rural land buying.
NZRLC plans to buy rural land and lease it to farmers or other producers.
In its pre-listing statement, the company said it its initial focus would be on acquiring dairy properties, but in due course would be looking also at horticulture, viticulture, forestry, as well as sheep and beef. ....

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