NZX Stock Markets
New Zealand shares fell in quiet trading ahead of a busy mid-week
reporting period, led lower by Sky Network Television and Mercury NZ,
while Synlait Milk and a2 Milk Co rose.
The S&P/NZX50 Index declined 10.06 points, or 0.1 percent, to 8,115.25.
Within the index, 22 stocks rose, 20 fell and eight were unchanged.
Turnover was $67 million.
Sky TV led the index lower, down 2.5 percent to $2.73, with Mercury falling 2 percent to $3.265.
Freightways fell 1.2 percent to $7.44. It reported a gain in first-half revenue although profit fell 8 percent to $31.4 million on the impact of a year-earlier one-time gain and a narrower earnings margin at its express package and business mail division. Sales rose 7.1 percent to $292 million.
NZX dipped 0.9 percent to $1.10. It boosted annual profit 62 percent, cutting costs by trimming down its agri publishing unit and refocusing on its core markets business which relied on a glut of new debt listings to offset the lack of new equity initial public offerings and several delistings in the year.
Synlait was the best performer, up 5.2 percent to $7.05.
The company has not made any new announcements and the stock traded about 2 percent higher through the morning but rose above $7 after 3pm, hitting an intra-day high of $7.09 before pulling back a little towards the close.
A2 itself rose 0.4 percent to $9.28, and hit a record $9.44 during the session.
Outside the benchmark index, Evolve Education fell 19 percent to 61 cents after the early childhood education group gave its second full-year profit warning and said it is likely to write down goodwill on acquisitions and cut its dividend.
Net profit before one-time items is expected to be $11 million to $12 million in the 12 months ending March 31, down from previous guidance of $14 million to $15 million.
The S&P/NZX50 Index declined 10.06 points, or 0.1 percent, to 8,115.25.
Within the index, 22 stocks rose, 20 fell and eight were unchanged.
Turnover was $67 million.
Sky TV led the index lower, down 2.5 percent to $2.73, with Mercury falling 2 percent to $3.265.
Freightways fell 1.2 percent to $7.44. It reported a gain in first-half revenue although profit fell 8 percent to $31.4 million on the impact of a year-earlier one-time gain and a narrower earnings margin at its express package and business mail division. Sales rose 7.1 percent to $292 million.
NZX dipped 0.9 percent to $1.10. It boosted annual profit 62 percent, cutting costs by trimming down its agri publishing unit and refocusing on its core markets business which relied on a glut of new debt listings to offset the lack of new equity initial public offerings and several delistings in the year.
Synlait was the best performer, up 5.2 percent to $7.05.
The company has not made any new announcements and the stock traded about 2 percent higher through the morning but rose above $7 after 3pm, hitting an intra-day high of $7.09 before pulling back a little towards the close.
A2 itself rose 0.4 percent to $9.28, and hit a record $9.44 during the session.
Outside the benchmark index, Evolve Education fell 19 percent to 61 cents after the early childhood education group gave its second full-year profit warning and said it is likely to write down goodwill on acquisitions and cut its dividend.
Net profit before one-time items is expected to be $11 million to $12 million in the 12 months ending March 31, down from previous guidance of $14 million to $15 million.
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