New Zealand Stock Markets
New Zealand shares gained, led higher by Fisher & Paykel
Healthcare Corp and Kathmandu Holdings in quiet trading due to the
Auckland Anniversary Day.
The S&P/NZX50 Index gained 16.17 points, or 0.2 percent, to 8,237.59. Within the index, 21 stocks rose, 20 fell and nine were unchanged. Turnover was $72.5 million.
F&P Healthcare led the index higher, up 2.7 percent to $13.25. Kathmandu gained 2.5 percent to $2.44 and Australia & New Zealand Banking Group rose 1.8 percent to $31.55.
Trustpower rose 0.5 percent to $5.60. The stock lost 6 percent over Thursday and Friday after cornerstone shareholder Tauranga Energy Consumer Trust proposed it ditch customer rebates in five years in favour of funding community projects.
TECT only pays the dividend of $400 to $500 a year to Trustpower customers in Tauranga, allowing it to dominate the local market.
Auckland International Airport was the worst performer, down 2.2 percent to $6.56, with Trade Me Group dropping 1.5 percent to $7.60.
Synlait Milk fell 1.8 percent to $6.97. The NZX-listed milk processor said it expects to achieve its forecast milk price payout to farmers so long as commodity prices continue to firm for the remainder of the season.
The dairy company reaffirmed its forecast milk price of $6.50 per kilogram of milk solids for the 2017/18 season which runs from June 1 to May 31.
However, the company signalled in a statement to the NZX that this forecast is dependent on commodity prices continuing to firm for the rest of the season.
Its forecast compares with Fonterra Cooperative Group's expectation of $6.40/kgMS for the current season.
The S&P/NZX50 Index gained 16.17 points, or 0.2 percent, to 8,237.59. Within the index, 21 stocks rose, 20 fell and nine were unchanged. Turnover was $72.5 million.
F&P Healthcare led the index higher, up 2.7 percent to $13.25. Kathmandu gained 2.5 percent to $2.44 and Australia & New Zealand Banking Group rose 1.8 percent to $31.55.
Trustpower rose 0.5 percent to $5.60. The stock lost 6 percent over Thursday and Friday after cornerstone shareholder Tauranga Energy Consumer Trust proposed it ditch customer rebates in five years in favour of funding community projects.
TECT only pays the dividend of $400 to $500 a year to Trustpower customers in Tauranga, allowing it to dominate the local market.
Auckland International Airport was the worst performer, down 2.2 percent to $6.56, with Trade Me Group dropping 1.5 percent to $7.60.
Synlait Milk fell 1.8 percent to $6.97. The NZX-listed milk processor said it expects to achieve its forecast milk price payout to farmers so long as commodity prices continue to firm for the remainder of the season.
The dairy company reaffirmed its forecast milk price of $6.50 per kilogram of milk solids for the 2017/18 season which runs from June 1 to May 31.
However, the company signalled in a statement to the NZX that this forecast is dependent on commodity prices continuing to firm for the rest of the season.
Its forecast compares with Fonterra Cooperative Group's expectation of $6.40/kgMS for the current season.
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