NZX 50 rises after taking cues from Wall Street, NTL gains 50%

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NZX 50 rises after taking cues from Wall Street, NTL gains 50%

 NZX 50 rises after taking cues from Wall Street, NTL gains 50%
Image source: Source: © 2022 Kalkine Media®


  • The NZ share market upbeat on the opening day of the week
  • The benchmark index NZX 50 gains 1.02%
  • NZX witnesses 98 rises and 43 falls in today’s trade

The New Zealand share market regained what it had lost on Friday by ending higher. It began the week on a bullish note following strong trading on Wall Street. The US market had ended in the green on Friday ahead of the long weekend on account of Independence Day.

                                 Source: © 2022 Kalkine Media®

The benchmark NZX 50 ended 1.02% higher at 10,862 on Monday. Last Friday, the index had closed lower by 1.06%. There were 98 rises and 43 falls on the NZX and the market volume was above 30.81 million with a turnover of NZ$97.64 million

Among heavyweights, Air NZ (NZX:AIR), the leading carrier of NZ, was up more than 5.15% at NZ$0.615, Auckland International Airport (NZX:AIA) was up almost 1% in today’s trade at NZ$7.330, The A2 Milk Company (NZX:ATM) was up 2.27% at almost NZ$ 5,  Healthcare major Fisher and Paykel (NZX:FPH) was up 1.28% at NZ$19.800, Infratil Limited (NZX:IFT) was up 2% at NZ$7.770, and the biggest freight company Mainfreight Limited (NZX:MFT) was up 1.38% at NZ$69.950.

However, the top gainers on the NZX were small caps with the stock price at less than NZ$1. Among those, the top one was New Talisman Goldmines (NZX:NTL) that gained a whopping 50% in today’s trade at NZ$ 0.003, Me today (NZX:MEE) that gained 8.33% at NZ$0.01, Marlborough Wine estates Group (NZX:MWE) that gained a substantial 6% at NZ$0.170.

The top decliners were:  New Zealand Oil and Gas Limited (NZX:NZO), Sky Entertainment Limited (NZX:, SKC) and two technology stocks Wellington Drive Technologies Limited (NZX:WDT) and Geo Limited (NZX:GEO). The top loser (NZX:NZO) lost about 9% in today’s trade on news of increasing petrol prices.

Global markets

In US markets, the Dow Jones rose 1.05%, the S&P500 was up 1.05%, and the NASDAQ ended 0.9% higher.

In Europe, the Stoxx 50 fell 0.2%, the FTSE was flat, the DAX surged 0.2%, and the CAC ended 0.1% higher. The manufacturing activity in the euro zone saw its first decline in June since the initial wave of COVID-19 in 2020.

In Australia, the immediate neighbourhood, all eyes are on the upcoming monetary policy meeting on 5 July. The Reserve Bank of Australia might go for a substantial jump, lifting its official cash rate from 0.85% to 1.35% signifying a 50bps increase.

Oil and gold price dip

The yellow metal was trading low on Monday as the US dollar gained strength. The strength of the dollar slackened the demand for gold and also lost support from weakening treasury yields. Spot gold was down 0.2% at NZ$1,807 per ounce and US Gold futures fell 0.5%.

Oil prices also slipped paring gains from the previous session as fears of recession gripped markets. This is despite the fact that the supply remains less on the lower OPEC output and unrest in Libya. Brent crude futures slipped 35 cents, or 0.3%, to US$111.28 a barrel early today.


Major cryptocurrencies were trading flat today. The main crypto Bitcoin hovered in the range of Rs15.61 lakh. Ripple gained 2% while Meta is shutting its crypto wallet.




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