The New Zealand sharemarket put in a flat performance on Monday ahead of key economic data this week, as Pike River Coal went looking for more capital and Greenstone Energy concluded a successful bond sale.The benchmark NZX-50 index closed up 4.68 points,
The New Zealand sharemarket put in a flat performance on Monday ahead of key economic data this week, as Pike River Coal went looking for more capital and Greenstone Energy concluded a successful bond sale.
The benchmark NZX-50 index closed up 4.68 points, or 0.1%, at 3216.936.
Pike River Coal fell 2c to 109 after saying it is seeking a short-term working capital facility. Chairman John Dow said discussions were at an advanced stage with potential funders. Major shareholder NZ Oil & Gas fell 2c to 129.
Greenstone Energy, the company that purchased Shell's assets in New Zealand earlier this year, today raised $147 million in a bond sale, including $47 million of oversubscriptions. The six-year bonds will trade on NZDX. Greenstone shareholder Infratil was unchanged at 174.
"Greenstone provides new name diversification, access to a new infrastructure industry segment and supports its New Zealand ownership," said David Smith, director investment banking at First NZ Capital. First NZ Capital and ANZ were joint lead managers on the issue.
Current account data on Wednesday and gross domestic product data on Thursday will add to the debate about how fragile the recovery is.
Fletcher Building rose 3c to 850, Cavalier Carpets rose 10c to 310 and Tourism Holdings rose 2c to 80.
Port of Tauranga rose 8c to 680 and Sanford rose 4c to 400. Auckland Airport rose 1c to 208 and Nuplex rose 2c to 345. Fisher&Paykel Healthcare rose 4c to 305 and the appliances stock rose 2c to 62.
NZ Farming Systems Uruguay looks set to leave the market with Olam declaring its offer unconditional today. While Allied Farmers was little changed at 2.6c.
NZ Refining fell 10c to 370, Steel&Tube fell 1c to 239 and Mainfreight fell 9c to 710. Telecom was unchanged at 206.
