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Market report 8.4.21

Heavyweight stocks thrust the NZX market higher today, with the close at 12,632.60, a gain of 145 points. Earlier, the Dow Jones managed a small rise of 16 pts at 33,446.26 while market participants start to calculate the effect of new tax legislation concepts driven by the US Treasury seeking to find a way to fund the two trillion dollar stimulus package of the Biden administration. F&P Healthcare jumped 118c to $33.60, EBOS Healthcare was ahead by 45c to $30.10, Mainfreight pushed 71c higher to $68.40 and Delegat gained 8c to $14.74. a2 Milk continues to recover, today adding 33c to $8.89, while key supplier Synlait shed 6c to $3.50. Marsden Maritime gained 12c at $6.22 but South Port dropped 20c at $9. Scales was down 14c to $4.45 as concern grows over the shortages of export containers required for the fruit and meat season. Scott Tech rose 11c to $2.20 on an optimistic interim result. THL moved 7c up to $2.73 as investors start to back the tourism sector stocks thought likely to benefit when the Australia-NZ travel bubble begins later this month.

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