New Zealand Stock Markets
New Zealand shares gained, led by Air New Zealand and Fletcher Building, with Z Energy and CBL dropping.
The S&P/NZX50 Index rose 31.42 points, or 0.4 percent, to 8,415.29. Within the index, 23 stocks rose, 17 fell and 10 were unchanged. Turnover was $168 million.
Air New Zealand led the index, up 2.6 percent to $3.13. This week the airline posted December operating figures, showing gains in passengers and revenue passenger kilometres.
Fletcher Building rose 2.1 percent to $7.96, Mainfreight gained 1.5 percent to $26.40, and Tourism Holdings jumped 1.4 percent to $5.84.
Z Energy was the worst performer, down 2.1 percent to $7.41, weakening off throughout the day following a significant line of stock changing hands at $7.45 before the market opened.
Infratil dropped 1.4 percent to $3.17 and Metro Performance Glass fell 1.1 percent to 93 cents.
CBL declined 0.9 percent to $3.17 before being put in a trading halt ahead of an earnings update on Monday.
Outside the benchmark index, Briscoe Group gained 2.9 percent to $3.50. It says full-year sales topped $600 million for the first time, helped by stronger revenue from sporting goods in the fourth quarter, and it expects to report a record annual profit of about $61 million.
Total sales rose 2.6 percent to about $194 million in the 13 weeks ended Jan. 28. Homeware sales climbed 1.3 percent to $124.8 million, although on a same-store basis they were down 0.3 percent, while sporting goods sales rose 5.1 percent to $69 million, or a 4.9 percent same-store gain.
The New Zealand dollar is heading for a 0.4 percent weekly gain against the greenback, which is trading around its lowest levels in more than three years against a basket of currencies.
The kiwi traded at 73.63 US cents as at 5pm in Wellington from 73.66 cents late yesterday and from 73.37 cents a weak ago. The trade-weighted index was at 74.99 from 74.96 late yesterday.
The Reserve Bank is scheduled to release its monetary policy statement next Thursday.
No change is expected to the official cash rate, now 1.75 percent, although inflation has printed weaker than its most recent projections back in November, the trade-weighted index is stronger, and historical gross domestic product data has been revised up.
The kiwi didn't move much after reports showed a pickup in consumer confidence in January, an increase in December home-building consents and a slight dip in annual net migration from near record levels.
New Zealand's two-year swap rate was unchanged at 2.16 percent, while 10-year swaps rose 3 basis points to 3.27 percent.
The S&P/NZX50 Index rose 31.42 points, or 0.4 percent, to 8,415.29. Within the index, 23 stocks rose, 17 fell and 10 were unchanged. Turnover was $168 million.
Air New Zealand led the index, up 2.6 percent to $3.13. This week the airline posted December operating figures, showing gains in passengers and revenue passenger kilometres.
Fletcher Building rose 2.1 percent to $7.96, Mainfreight gained 1.5 percent to $26.40, and Tourism Holdings jumped 1.4 percent to $5.84.
Z Energy was the worst performer, down 2.1 percent to $7.41, weakening off throughout the day following a significant line of stock changing hands at $7.45 before the market opened.
Infratil dropped 1.4 percent to $3.17 and Metro Performance Glass fell 1.1 percent to 93 cents.
CBL declined 0.9 percent to $3.17 before being put in a trading halt ahead of an earnings update on Monday.
Outside the benchmark index, Briscoe Group gained 2.9 percent to $3.50. It says full-year sales topped $600 million for the first time, helped by stronger revenue from sporting goods in the fourth quarter, and it expects to report a record annual profit of about $61 million.
Total sales rose 2.6 percent to about $194 million in the 13 weeks ended Jan. 28. Homeware sales climbed 1.3 percent to $124.8 million, although on a same-store basis they were down 0.3 percent, while sporting goods sales rose 5.1 percent to $69 million, or a 4.9 percent same-store gain.
The New Zealand dollar is heading for a 0.4 percent weekly gain against the greenback, which is trading around its lowest levels in more than three years against a basket of currencies.
The kiwi traded at 73.63 US cents as at 5pm in Wellington from 73.66 cents late yesterday and from 73.37 cents a weak ago. The trade-weighted index was at 74.99 from 74.96 late yesterday.
The Reserve Bank is scheduled to release its monetary policy statement next Thursday.
No change is expected to the official cash rate, now 1.75 percent, although inflation has printed weaker than its most recent projections back in November, the trade-weighted index is stronger, and historical gross domestic product data has been revised up.
The kiwi didn't move much after reports showed a pickup in consumer confidence in January, an increase in December home-building consents and a slight dip in annual net migration from near record levels.
New Zealand's two-year swap rate was unchanged at 2.16 percent, while 10-year swaps rose 3 basis points to 3.27 percent.
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