NZX 50 ends lower; BLT, PEB shine; BRW, BRM slump

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NZX 50 ends lower; BLT, PEB shine; BRW, BRM slump

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 NZX 50 ends lower; BLT, PEB shine; BRW, BRM slump
Image source: © Adrijatika | Megapixl.com

Highlights:

  • The NZX 50 ends Monday’s trading session lower.
  • Blis Technologies and Pacific Edge were the top NZX gainers, while Bremworth and Barramundi were among the NZX losers.

The New Zealand stock market closed in the red after today’s trading session. The benchmark S&P/NZX50 index today closed at 11,619.040, down 0.10% or 11.650 points. Indices like the S&P/NZX All Health Care and the S&P/NZX All Consumer Discretionary ended the trading session lower 1.32% and 1.06%, respectively.

 

Source: © Littlemacproductions | Megapixl.com

Today’s top gainers were Blis Technologies Limited (NZX:BLT) and Pacific Edge Limited (NZX:PEB), whose shares were up 6.67% and 6.52%, respectively. Other gainers included NZME Limited (NZX:NZM), which rose 4.84%, and Greenfern Industries Limited (NZX:GFI), whose share price rose 4.73%, among others.

On the other hand, Bremworth Limited (NZX:BRW) was the biggest decliner of the day, which fell 6.67%. It was followed by Barramundi Limited (NZX:BRM), Vulcan Steel Limited (NZX:VSL), Savor Limited (NZX:SVR) and KMD Brands Limited (NZX:KMD), whose shares lost 4.76%, 4.75%, 4.65% and 3.74%, respectively.

At the closing bell today, the daily value traded was about NZ$92 million.

Global markets

Wall Street was in the red on 2 September, as the US data released on Friday showed higher-than-expected hiring in August but moderated wage growth and a higher unemployment rate. The NASDAQ lost 1.31%, while both the Dow Jones and the S&P 500 fell 1.07% each.

Asian markets showed mixed trends on Monday. While Singapore’s SGX Nifty was up 0.94% at the time of writing today, Hong Kong's Hang Seng is down 1.11%, majorly on account of losses by electric vehicle and tech stocks. South Korea’s Kospi and Japan’s Nikkei 225 fell 0.24% and 0.11%, respectively.

Oil climbs, gold down

Oil prices rise on Monday as investors await details on moves by OPEC+ producers to tweak production at a meeting later in the day. Currently, Brent Oil Futures are up 2.85% to US$95.71 a barrel.

The yellow metal is trading lower today amid the strengthening of the US dollar and the growing uncertainty over the Fed’s rate-hike path following mixed jobs data. On 5 September, at the time of writing this article, Gold Futures were down 0.10% to US$1720.80 an ounce.

 

 

 

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