NZX50 ends flat; PYS, Me Today gain; CRP and MFB lose

September 06, 2022 06:40 PM AEST | By Manika

NZX50 ends flat; PYS, Me Today gain; CRP and MFB lose — Image source: © 2021 Kalkine Media Pty Ltd.

Highlights

The New Zealand market closed lower on Tuesday

The NZX50 ended down 0.17%

Infratil was up for the third consecutive day

New Zealand’s share market closed slightly lower on Tuesday with no cues from the US market as it was off on Monday due to Labour Day. Investors were directionless as Wall Street was closed, and the market remained almost flat throughout the trading session.

The NZX50 was down 0.17% at 11,566, with 67 rises and 65 falls, reflecting a low volume trade of 24.58 million shares and a total turnover of NZ$95.82 million.

The top gainers in today’s trade were fintech firm Paysauce Limited (NZX:PYS), up 7.55% at NZ$0.265, Me Today (NZX:MEE), up 5.88% at NZ$0.018, Scales Corporation Limited (NZX:SCL), up 4.55% at NZ$4.79, Metro Performance Glass Limited (NZX:MPG), up 4.55% at NZ$0.230, and Geneva Finance Limited (NZX:GFL), up 3.92% at NZ$0.530.

The losers in today’s trade were Chatham Rock Phosphate (NZX:CRP), down 5.88%, My Food Bag (NZX:MFB), down 4.29%, Michael Hill International Limited (NZX:MHJ), down 1.27%, and Rua Biosciences Ltd. (NZX:RUA), down 3.33%.

Among other big-wigs, energy companies had mixed fortunes with Meridian Energy ending up flat. While Contact Energy rose 0.8%, Mercury NZ Limited fell 0.7%. Manawa also rose 0.3% in today’s trade.

Infratil has been gaining since the beginning of the month. In today’s trade, it closed 0.3% up at NZ$9.51 after opening much higher. Auckland Airport was down 0.1% and Spark New Zealand, the telecom major, was up 0.09%.

Global Markets

While Wall Street was closed due to a holiday, European equities made losses as Russia kept its oil supplies closed. The Stoxx lost 0.6% and the German DAX was down 2.2% after Russia’s Gazprom confirmed that it wouldn’t resume pumping gas after a maintenance shutdown, which was supposed to resume on Saturday. On the other hand, London’s FTSE 100 was up 0.1%.

In Asia, the Shanghai Composite rose 0.4%, but the CSI 300 was down 0.2% and Hong Kong’s Hang Seng was down 1.2%. The Nikkei 225 slid 0.1% and the Kospi was down 0.2%. Across the Tasman, Australia’s S&P/ASX200 Index was down a further 0.2% in late afternoon trading.

Oil prices

On energy markets, Brent crude, which is used to price international oil, lost 81 cents to US$94.93 per barrel in London.

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