New Zealand Stock Markets
New Zealand shares rose in heavy turnover amidst index rebalancing,
with Comvita and Sky Network Television gaining while Pushpay and A2
Milk Co dropped.
The S&P/NZX 50 Index gained 9.75 points, or 0.1 percent, to a record 8,477.08. Within the index, 20 shares rose, 19 fell and 11 were unchanged. Turnover was $345 million.
Both the local benchmark index and the S&P/ASX indices were rebalanced today. Moving out of the NZX 50 was Metro Performance Glass, replaced by Gentrack Group. Metro Glass was unchanged at 77 cents while Gentrack rose 3.4 percent to $6.70.
A2 dropped 2 percent to $13.62 today, though it has gained 415 percent in the past year.
Comvita led the index higher, up 7.6 percent to $7.80, while NZX rose 2.8 percent to $1.10.
Sky Network Television gained 6.5 percent to $2.29, and was the most heavily traded stock by volume today, with some 34.3 million shares traded, making up about a third of total shares traded.
Pushpay Holdings was the worst performer, down 2.3 percent to $4.24, while Metlifecare dropped 1.5 percent to $5.78.
Outside the benchmark index, Veritas Investments was unchanged at 4 cents. Shareholders voted to sell the business and assets of the Mad Butcher franchisor to its chief executive Michael Morton for $8 million at a special meeting held today in Auckland.
Prior to the meeting, independent adviser Simmons Corporate Finance said the $8 million price tag falls within its estimated value of between $7.2 million and $9.4 million and that the transaction is fair to shareholders not associated with Morton.
The S&P/NZX 50 Index gained 9.75 points, or 0.1 percent, to a record 8,477.08. Within the index, 20 shares rose, 19 fell and 11 were unchanged. Turnover was $345 million.
Both the local benchmark index and the S&P/ASX indices were rebalanced today. Moving out of the NZX 50 was Metro Performance Glass, replaced by Gentrack Group. Metro Glass was unchanged at 77 cents while Gentrack rose 3.4 percent to $6.70.
A2 dropped 2 percent to $13.62 today, though it has gained 415 percent in the past year.
Comvita led the index higher, up 7.6 percent to $7.80, while NZX rose 2.8 percent to $1.10.
Sky Network Television gained 6.5 percent to $2.29, and was the most heavily traded stock by volume today, with some 34.3 million shares traded, making up about a third of total shares traded.
Pushpay Holdings was the worst performer, down 2.3 percent to $4.24, while Metlifecare dropped 1.5 percent to $5.78.
Outside the benchmark index, Veritas Investments was unchanged at 4 cents. Shareholders voted to sell the business and assets of the Mad Butcher franchisor to its chief executive Michael Morton for $8 million at a special meeting held today in Auckland.
Prior to the meeting, independent adviser Simmons Corporate Finance said the $8 million price tag falls within its estimated value of between $7.2 million and $9.4 million and that the transaction is fair to shareholders not associated with Morton.
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