NZX 50 closes in red; NTL and AIR gain; MPG, TRU lose

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NZX 50 closes in red; NTL and AIR gain; MPG, TRU lose

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 NZX 50 closes in red; NTL and AIR gain; MPG, TRU lose
Image source: © Dream20090820 | Megapixl.com

Highlights

  • The New Zealand share market closes in the red today (21 September).
  • The NZX 50 benchmark index was down 0.62%.
  • Gainers in today’s trade were NTL and AIR.

New Zealand’s share market ended in the red on Wednesday (21 September) due to weak global cues. Wall Street ended lower on Tuesday evening as investors waited for the US Federal Reserve’s (Fed) decision on interest rates. The Fed is expected to announce the rates Wednesday (US time) after a two-day monetary policy meet.  

The S&P/NZX50 benchmark index traded lower by 0.62% at 11,499. 

All indices were down intraday, including the S&P/NZX20 and the S&P/NZX10, down 0.86% and 0.65%, respectively.

Source: © Skypixel | Megapixl.com

The gainers on the NZX in today’s trade were New Talisman Gold Mines Limited (NZX:NTL),Air New Zealand (NZX:AIR), up 7.35% at NZ$0.730,  My Food bag (NZX: MFB), up 4.69%, RUA Biosciences Limited (NZX: RUA), up 3.77%, and Blis Technologies Limited (NZX: BLT), up 3.23%.   

The losers in today’s trade were Metro Performance Glass Limited (NZX:MPG), which lost 8.89%, and TruScreen Group Limited (NZX:TRU), which fell 6.25%. Other decliners on the NZX were ArborGen Holdings Limited (NZX:ARB), which lost 4.35%, Restaurant Brands Limited (NZX: RBD), down 3.55%, and Freightways Limited (NZX:FRE), which slipped 2.71%.

The other gainers were Arvida Group (NZX: ARV), up 3.47%, and Briscoe Group (NZX:BGP), up 1.12%. The other stocks that gained in today’s trade included Ebos Limited (NZX:EBOS), up 1.52%, and Oceania Healthcare (NZX:OCA), up 3.26%.

Global markets

US indices closed lower on Tuesday (September 20) ahead of the Fed’s decision to hike interest rates after the two-day monetary policy meeting. On 20 September, all US benchmarks were down. The Dow Jones closed 0.8% down and the S&P 500 was down 0.9%. The NASDAQ ended 0.7% down.

European markets fell as central banks started raising interest rates. The Stoxx Europe 600 fell 1.1% on expectations of a big rate hike in the US on Wednesday. The UK’s FTSE 100 slipped 0.6% after the long weekend.

On 21 September, Hong Kong’s Hang Seng was down 1.57%. The Nikkei 225 lost 1. 36%, while Taiwan’s T Sec 50 Index was down 0.86% (at the time of writing).

Australia’s ASX All Ordinaries index closed down 1.54%.

Oil up 

Oil prices were up on supply concerns on expectations of another rate hike. Brent crude rose 11 cents, or 0.1%, to US$90.73 a barrel (on 21 September) after falling to US$1.38 on 20 September.

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