AUS
NZ
UK
CA
USA
IND
Highlights
- The New Zealand share market closed the day on a higher note, after two days of successive gains last week.
- The NZX 50 was up 0.4% at 11, 813
- The biggest gainers in today’s trade were MPG and ARB
The New Zealand share market closed higher (12 September) on cues from the US market that closed in the green on Friday.
New Zealand’s equity benchmark, the S&P/NZX50, closed 0.4% up at 11,813 with 90 rises and 50 falls. The market volume was 26.85 million and the turnover was NZ$104.95 million.
Among the major gainers on the NZX were Metro Performance Glass (NZX: MPG), which gained 10%, ArborGen Holdings Limited (NZX: ARB), up 6.82%, Fonterra Shareholders Limited (NZX: FCG), up 5.75%, Martin Global (NZX: MLN), up 4.81%, and Ampol Limited (NZX: ALD), up 4.75%.
The losers in today’s trade were Good Spirits Hospitality (NZX: GSH), down 9.43%, Blis Technologies Limited (NZX: BLT), down 6.45%, Harmoney Corp Limited (NZX: HMY), down 3.95%, and Barramundi Limited (NZX: BRMWG), down 3.85%.
Among blue chips, dairy companies were big gainers, with the A2 Milk Company (NZX: ATM) gaining almost 3% at NZ$6.400, Synlait Milk Limited (NZX: SML) up 1.15% to NZ$3.52.
Retail companies like Warehouse Group (NZX: WHS) were up 4% at NZ$3.480, and other heavyweights like Mainfreight (NZX: MFT) and Mercury NZ (NZX: MCY) were all up.
Global equity Indices
On Wall Street, Friday was a good day as US stocks ended in the green. The S&P 500 finished 61.2 points, or 1.5% up, at 4,067.4. The NASDAQ gained 250.2 points, or 2.1%. The Dow Jones Industrial Average finished 377 points higher, or 1.2%, to 32,151.7.
The current week will see the release of inflation data, and it is expected that inflation would come down from 8.5% to 8.1%. Even though core inflation is likely to go up, monthly inflation might also come down by 0.1%, as per expectations.
European investors kept worries aside and bought into equities on Friday. Accordingly, the Stoxx finished 1.5% higher and London’s FTSE 100 was up 1.3% when it opened on the first day after Queen Elizabeth’s death.
In Asia, the indices gained on Chinese inflation data.
Commodities
Gold futures were at US$1,727.90 as of 11 September 2022, and as crude inventories increased by 8.884 million last week, the export of crude took a drubbing. As of September 11, Crude oil Was at US$85.97/per barrel, and Brent oil was at US$92.10 per barrel.
Crude oil inventories increased by 8.844 million last week. Exports of US crude weakened to 3.433 million barrels per day last week from 3.967 million barrels per day.