Market close: NZX 50 at five-year high as OceanaGold, Kathmandu, Telecom gain

New Zealand shares rose, nudging the NZX 50 to a five-year high. OceanaGold, Kathmandu and Telecom led gainers.

The NZX 50 Index rose 13.17 points, or 0.3 percent, to 4103.54. Within the index, 24 stocks rose, 18 fell and eight were unchanged. Turnover was $130.8 million.

The local benchmark has been rising ahead of earnings in February.

Some companies have given favourable mid-quarter updates that have lifted expectations earnings will not disappoint and dividend yields on shares like Telecom make them attractive versus fixed income securities.

OceanaGold, which operates the Macraes gold field, rose 6.2 percent to $3.43 and Kathmandu, the outdoor supplies and clothing chain, gained 3.4 percent to $2.11.

Telecom, which has a dividend yield of 13.3 percent, rose 3.1 percent to $2.31. Sky City Entertainment, the casino and hotel company, rose 1.1 percent to $3.81. It has a dividend yield of 5.8 percent.

PGG Wrightson, the nation’s biggest rural services company, rose 2.2 percent to 47 cents.

Decliners were led by Skellerup, down 2.4 percent to $1.63, while Contact Energy, the biggest power utility on the NZX 50, fell 2.3 percent to $5.17.

Fletcher Building, the biggest company on the NZX 50, was unchanged at $8.45 with 2.8 million shares changing hands.

Guinness Peat Group, which is winding down its investment portfolio, rose 0.9 percent to 59.5 cents.

(BusinessDesk)


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NZ Market Snapshot

Forex

Sym Price Change
USD 0.7433 0.0114 1.56%
AUD 0.9158 0.0020 0.22%
EUR 0.6170 0.0067 1.10%
GBP 0.5448 0.0036 0.67%
HKD 5.7834 0.0771 1.35%
JPY 82.6480 1.0110 1.24%

Commods

Commodity Price Change Time
Gold Index 1310.9 3.470 2017-09-19T00:
Oil Brent 55.2 -0.260 2017-09-19T00:
Oil Nymex 49.5 -0.330 2017-09-19T00:
Silver Index 17.2 0.123 2017-09-19T00:

Indices

Symbol Open High Last %
NZX 50 7765.4 7819.2 7764.5 0.70%
NASDAQ 6465.6 6467.8 6454.6 0.10%
DAX 12550.9 12593.2 12561.8 0.06%
DJI 22349.7 22386.0 22331.3 0.18%
FTSE 7275.2 7289.9 7275.2 -0.05%
HKSE 28099.3 28149.4 28051.4 0.27%
NI225 20301.3 20339.4 20299.4 0.05%
ASX 5713.6 5713.6 5713.6 -0.08%