News | Rural
18 Mar 2018 5:21
NZCity News
NZCity CalculatorReturn to NZCity

  • Start Page
  • Personalise
  • Sport
  • Weather
  • Finance
  • Shopping
  • Jobs
  • Horoscopes
  • Lotto Results
  • Photo Gallery
  • Site Gallery
  • TVNow
  • Dating
  • SearchNZ
  • NZSearch
  • RugbyLeague
  • Make Home
  • About NZCity
  • Contact NZCity
  • Your Privacy
  • Advertising
  • Login
  • Join for Free

  •   Home > News > Rural

    NZ shares down as Pushpay, Fonterra drop

    New Zealand shares fell in light volume on Monday as holiday trading continued, with Pushpay Holdings and Fonterra Shareholders Fund leading the losses.


    New Zealand shares fell in light volume on Monday as holiday trading continued, with Pushpay Holdings and Fonterra Shareholders Fund leading the losses.

    The S&P/NZX50 Index dropped 30.98 points, or 0.4 per cent, to 8211.37. Within the index, 22 stocks fell, 14 rose and 14 were unchanged. Turnover was $61 million.

    "There's not a lot happening in the markets today - there were a couple of quite strong trading days last week, but we've started off today like everyone's gone back on holiday," said Peter McIntyre, investment adviser at Craigs Investment Partners.

    "We're in a bit of a holding pattern. We're not going to get any direction overnight because the US market is going to be closed for Martin Luther King Jr Day.''

    Fonterra dropped 2.1 per cent to $6.52.

    "A number of farmers had to share up by last Friday, that's why we saw some strength in those shares last week," Mr McIntyre said.

    "They were definitely one of the best performers last week, they increased by about 3 per cent. It's a bit weaker today, but on really light volume."

    Pushpay Holdings led the index lower, down 2.9 per cent to $4.01, with Tourism Holdings falling 1.7 per cent to $5.69.

    Fletcher Building was the best performer, up 1.7 per cent to $7.70. Sanford rose 1.2 per cent to $8.40.

    Mercury was unchanged to $3.38. It has selected Tesla as the provider for a scalable national grid-connected battery trial.

    Sky Television was unchanged at $2.81. It has settled with Mediaworks and Fairfax a copyright dispute.

    Outside the benchmark index, Xero gained 0.8 per cent to $32.72. Chief financial and operating officer Sankar Narayan sold A$883,482 of stock to meet a personal tax bill accruing from the share component of his pay packet.

    The company will delist from the NZX on January 31.


    © 2018 NZN, NZCity

     Other Rural News
     09 Mar: Skim milk price spike sparks GDT probe
     07 Mar: Dairy prices slip on increased supply
     05 Mar: Fonterra GM becomes ambassador to Korea
     22 Feb: Shares gain as investors take a2 above $9b
     22 Feb: A2 Milk a $10b company, eclipsing Fonterra
     21 Feb: A2 shares jump 25pc on Fonterra deal
     21 Feb: GDT prices slip for first time this year
     Top Stories

    Highlanders beat Crusaders in lively derby More...

    RBNZ expected to hold rate at review More...

     Today's News

    Labor declares victory in the Batman by-election 4:35

    Highlanders beat Crusaders in lively derby 21:55

    John Boyega misses "everything" about London 21:40

    Rugby League:
    Warriors still undefeated after NRL win 21:15

    Mandy Moore never wanted a "big" engagement ring 21:10

    Selena Gomez was "so scared she might die" when she had her kidney transplant 20:40

    Jennifer Lopez was once asked by a director to take her top off 20:10

    Queen Elizabeth has given her official blessing for Prince Harry and Meghan Markle to marry 19:40

    Rugby League:
    Hayne needs to find more ball: Arthur 19:35

    Law and Order:
    Hall wins Winter Paralympics gold for NZ 19:25

     News Search

    Power Search

    © 2018 New Zealand City Ltd