- The New Zealand sharemarket ended 0.82% lower on Thursday as business confidence dipped.
- US stocks ended mostly lower in the overnight session while Asian stocks were trading mixed on Thursday.
- Oil prices rose, gold prices firmed while the cryptomarket was down.
The New Zealand sharemarket ended lower on Thursday as NZ business confidence dipped to a new low amid inflationary pressures and supply chain constraints. The ANZ Business Outlook survey revealed business confidence fell by 7 points to -63% in June, showing pessimism among firms on activity and profitability outlook.
The benchmark NZX 50 index ended 0.82% lower at 10,868.7, led by a substantial drop in material, industrial and utility stocks.
Top stock Fisher & Paykel Healthcare (NZX:FPH) gained 0.5% during the trading session. Chatham Rock (NZX:CRP) was the top gainer with shares ending 15.63% higher at the end of the day.
Source: © 2022 Kalkine Media®
Among leading stocks, Meridian Energy (NZX:MEL) fell 0.21%, Contact Energy (NZX:CEN) lost 2.54%, Mainfreight (NZX:MFT) was down 1.62%, Auckland International (NZX:AIA) fell 2.71% and Ryman Healthcare (NZX:RYM) ended 2.73% lower. Harmoney Corp Limited’s (NZX:HMY) shares fell the most by 8.89% in Thursday’s session.
US stocks end mostly lower, Asian stocks trade mixed
US stocks ended mostly lower in Wednesday’s trading session after many policymakers and experts suggested a quick hike in interest rates to lower soaring inflation. Moreover, US Q1 GDP was altered down to -1.6% from -1.5% earlier while GDP deflator soared to 8.3%, sparking recessionary concerns.
The S&P 500 fell 0.07%, the NASDAQ Composite dropped 0.03% while the Dow Jones Industrial Average saw a rise of 0.27% in the overnight session.
Asian stocks were trading mixed on Thursday. Japan’s Nikkei was down 0.78%, Australia’s S&P/ASX 200 was trading 0.95% lower and South Korea’s KOSPI was down 0.72%. However, Hong Kong’s Hang Seng was trading 0.26% higher during the day.
Oil prices rose, gold prices firmed
Oil prices were trading higher on Thursday but headed for their first monthly decline since November 2021. Oil prices took a hit in June due to increased economic growth worries as central banks raised interest rates to battle surging inflation.
Brent oil increased 0.32% to US$112.81 a barrel, while US crude oil WTI futures were up 0.15% to US$109.94 a barrel.
Gold prices softened during the day as US Treasury yields fell and the dollar gained on Wednesday. Spot gold was down 0.05% to US$1817.05 per ounce, while gold futures gained 0.01% to US$1817.65, at the time of writing.
The global cryptomarket cap has fallen 1.96% to US$892.37 billion in the last 24 hours. Major cryptocurrencies like Bitcoin, Cardano, Solana, Polkadot, etc., were trading lower on Thursday. However, Ethereum, XRP, BNB and TRON showed gains.