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Market Report Evening 18.5.12

The NZ sharemarket clings by a point to a position above the 3500 mark on the NZX index after a day of widespread declines. The market finished 20 points lower at 3501. The major listed banks were lower, ANZ by 35c at $27.40 and Westpac by 75c at $26.75. Auckland Airport declined 6c to $2.55, Freightways by 8c to $3.75, Mainfreight by 5c to $9.12 and SkyCity by 4c to $3.52. Fletcher was down 2c at $6.30. AMP shed 11c at $5.02 And Port of Tauranga fell 23c to $10.75. Trade Me gave up 3c at $4.02. Seeka had the largest percentage decline of the day, down only 5c but effectively 8.6% at $1.60. OceanaGold turned around and made a 15c advance to $2.42.

Market Report 19.5.12

U.S. stocks were lower for a fifth day Thursday, as investors continued to fret about Greece's future in the eurozone, reports First NZ Capital. The Dow Jones industrial average fell 87 points, or 0.7%, the S&P 500 lost 11 points, or 0.9%, and the Nasdaq shed 36 points, or 1.2%. European stocks declined for a fourth day as the region’s central bank paused lending to some Greek banks and speculation mounted that Spanish banks may have their credit ratings cut at Moody’s Investors Service. The Stoxx Europe 600 Index (SXXP) dropped 1.1 percent to 241.63 at the close of trading, for the longest losing streak since March 22, even as the Federal Reserve signaled further monetary easing remains an option if the U.S. economy worsens. National benchmark indexes declined in all 10 western European markets open today. ...

Market Report Evening 17.5.12

The NZ sharemarket improved today, rising 7 popi9nts on the NZX 50 index to 3522. The drive came from Fletcher Building up 9c to $6.32. Ryman added 9c to $3.34 a day after its impressive FY12 $84m net profit result was announced. SKYTV rebound 13c to $5.20 after some days in decline following unexpected interest by the Commerce Commission in what the channel charges consumers. Investors were concerned at the company becoming entangled in the sort of regulatory intervention that previously removed value from Telecom shares. Rakon fell 9.4% or 5c to 46c after its FY12 result. Trustpower lost 15c to $7.65 and Cavalier 8c to $1.52. ...

Market Report 17.5.12

U.S. stocks turned mixed Wednesday afternoon, as investors weighed strong U.S. economic data against ongoing uncertainty about Greece's political situation, reports First NZ Capital. The Dow Jones industrial average rose 20 points, or 0.2%, the S&P 500 added 1 point, or 0.1%, and the Nasdaq slipped 2 points, or 0.1%. European stocks dropped for a third day, to their lowest level this year, amid growing concern Greece will be forced to leave the euro area. The Stoxx Europe 600 Index slipped 0.6 percent to 244.4 at the close of trading, having earlier advanced as much as 0.3 percent and lost 1.4 percent. National benchmark indexes declined in 13 of western Europe’s 18 markets. ...

Market Report Evening 16.5.12

Equities turned southwards today, with the NZX 50 index shedding 20 points at 3575, amidst a hailstorm of selling that saw 84 stocks decline on the overall exchange. Some of the movements were on the heavier side especially SKY TV which dropped 38c in a 7% slide to $5.07. AMP lost 26c or 4.8% at $5.11 and ANZ was down 51c at $27.94. Fletcher shares fell 6c to $6.23 and both Freightways at $3.86 and Mainfreight at $9.23 were down 9c. Hallenstein lost 10c at $4 Amongst mid caps Abano shed 25c or 5.7% at $4, OPUS was down 7c at $2.12, South Port 8c at $3.47, and OceanaGold gave up a further 8c at $2.22. Tenon fell 8% or 6c to 68c. Xero was 5c weaker at $4.30. Gainers today included Contact Energy, up 7c at $4.90, Vector 7c at $2.73 and F&P Healthcare up 9c to $2.39. AWF was rewarded for an excellent result with a 20c rise (+8.3%) to $2.60. ...

Market Report 16.5.12

U.S. stocks struggled during a choppy trading Tuesday as investors digested mixed news out of Europe, reports First NZ Capital. With about an hour remaining in trading, the Dow Jones industrial average and S&P 500 were straddling the breakeven line, and the Nasdaq was 11 points, or 0.4%, higher. European stocks dropped for a second day, pushing the Stoxx Europe 600 Index to its lowest level since December, as Greece called a new election after the country’s politicians failed to form a government. The Stoxx 600 retreated 0.7 percent to 245.76 at the close in London, extending its drop from this year’s peak on March 16 to 9.8 percent. National benchmark indexes fell in every western-European market except Norway and Ireland. The U.K.’s FTSE 100 lost 0.5 percent and France’s CAC 40 lost 0.6 percent. Germany’s DAX retreated 0.8 percent. Greece’s ASE Index plunged 3.6 percent to its lowest level since November 1992. ...

Market Report Evening 15.5.12

A 6.5 cents decline by Telecom helped the NZ sharemarket to a soggy close today. The shares traded at 256.5c, and the stock is a major influence on the NZX50 gross index, which slipped 20 points to 3535. ANZ shed 14c at $28.45, OceanaGold had another lacklustre day, down 11c or 4.6% at $2.30 and Port of Tauranga came back 15c at $11.10. The transport duo Freightways and Mainfreight were both reined in after a strong early 2012: Freightways dropping 16c or 3.9% to $3.95 and Mainfreight down 18c at $9.32. Chorus shed 7c at $3.16. Against the trend Fletcher gained 3c at $6.29 and AMP added a further 15c or 2.9% at $5.37. ...

Market Report 15.5.12

US stocks declined overnight as Greece struggles to form a new government and speculation grew over the indebted nation leaving the euro, reports Forsyth Barr. At last glance, the S&P 500 had slipped -0.9% and the Dow Jones Industrial Average had fallen -0.9%. Concern about Europe’s crisis mounted as the cost of insuring against a Spanish default reached a record high. Banks retreated, led down by European lenders. JPMorgan fell -2.2%, Bank of America retreated -1.3% and Citigroup slipped -4.1%. Residential Capital, the unprofitable mortgage company filed for bankruptcy as parent Ally Financial attempts to repay a US government bailout. Energy and raw material producers sank as the S&P GSCI gauge of 24 commodities declined -1.5%. Symantec, security software retailer, retreated -0.8% after a recommendation downgrade. At the other end of the spectrum, Chesapeake Energy surged +4.7% after reaching loan agreements to help ease a cash shortfall. Yahoo! rose +2.4% after announcing CEO Scott Thompson will be stepping down. European stocks declined as the impasse deepened in Greece after President Karolos Papoulia failed to secure agreement on a unity government and avert new elections. The Stoxx Europe 600 lost -1.8%. Germany’s Chancellor Angela Merkel’s party lost an election in Germany’s most populous state, helping the Social Democrats tighten their grip on the country’s regional governments. Nokia fell -7.3% after a ratings downgrade. The FTSE 100 fell -2.0% to its lowest level this year. Barclays paced a selloff in banks, falling -6.4%. Royal Bank of Scotland slid -4.8% and Lloyds declined -5.5%. Shares in ...

Market Report Evening 14.5.12

The NZ sharemarket opened the new trading week with a sunny disposition, gaining 7 points to close at 3555, with 51 rises and 54 falls. AMP gained 9c at $5.22 and Trustpower another 8c at $7.80. Fletcher turned around strongly with a 14c gain to $6.26 and ANZ was up over 23c at $28.59. Diligent appointed Mark Weldon to its board today and the share price moved 8c higher to 43.43 on the news. Xero recovered 14c in a 5.3% move to $4.34, after falling off its heady pace following an analyst’s report that the stock was overheated. On the losing side were Sky City 0ff 8c at $3.64 and Sky TV down 7c at $5.48. OceanaGold shed a further 13c or 5.1% at $2.41. ...

Market Report 13.5.12

Stocks finished lower Friday, ending a down week for the major indexes, as weakness in the banking sector weighed on the market, says First NZ Capital. The Dow Jones industrial average fell 34 points, or 0.3%, to end at 12,820. The S&P 500 lost 5 points, or 0.3%, to 1,353. The Nasdaq inched up less than one point to end little changed at 2,934. European stocks declined for a second week after an inconclusive election in Greece left political parties struggling to form a government, increasing speculation that the nation might fail to implement austerity measures. The Stoxx Europe 600 Index retreated 0.4 percent to 251.97 this past week. National benchmark indexes fell in nine of the 18 western- European markets this week. The U.K.’s FTSE 100 declined 1.4 percent. France’s CAC 40 lost 1 percent as Francois Hollande was elected president. Germany’s DAX advanced 0.3 percent. Greece’s ASE Index plunged 11 percent to the lowest level since 1992 ...