Results season confidence drives NZ sharemarket up
'There was a bit of a strange lead from the US overnight. Their market rallied quite strongly despite the fact that inflation data was a touch higher than expected.'
On the main board, Goodson pointed to Napier Port's strong nine-month result, despite its share price falling 1.89% to $3.12.
The business reported its revenue increased 16.4% to $42.5m from $36.5m in the same period last year.
'They're clearly seeing extremely good export volumes at present, so they've reiterated guidance at the top end of their guidance range.
'The stock has been very strong in recent months, partly on the improved macro outlook, partly on index inclusions, but I think that result certainly strengthened the name.'
Elsewhere, Infratil had a minor independent valuation update. Its share price dipped 0.005c to $11.78.
Vital Healthcare Property Trust's share price lifted 0.51% to $1.99 after it released its full-year financials.
Goodson said Vital's gearing was relatively high at almost 42% on a committed basis, with no significant progress on further investments.
'The Australian healthcare property sector is in a real state of turmoil at the moment due to the receivership of Healthscope, the second-largest hospital chain in Australia.
'Investors just have some question marks about the rental affordability for some of the hospital tenants and the valuations attached to some of the hospital assets in Australia.'
Meanwhile, My Food Bag investors sold off in high volume today after the company gave an update to the market at its annual general meeting.
While the business's revenue growth continued – with sales up 3.8% over the first four months of trading compared with the same period last year – gross margins for the first half of 2026 were expected to be below those for the first half of this year because its price increases have lagged food price inflation.
My Food Bag shares fell 4% or 1c to 24c after 545,194 shares changed hands.
Wall Street stocks surged to fresh records on Tuesday local time after US data showed stable inflation despite worries over President Donald Trump's tariffs, lifting expectations for Federal Reserve interest rate cuts.
Major indices spent the entire session in positive territory, with both the broad-based S&P 500 and the tech-rich Nasdaq Composite Index finishing at fresh records.
'We're in a bull market,' said Adam Sarhan of 50 Park Investments. 'The bulls are strong and getting stronger.'
The Dow Jones Industrial Average finished up 1.1% at 44,458.61.
The S&P 500 also gained 1.1% to 6445.76, while the Nasdaq jumped 1.4% to 21,681.90.
The consumer price index rose 2.7% from a year ago in July, the same rate as in June.
– Additional reporting AFP
Tom Raynel is a multimedia business journalist for the Herald, covering small business, retail and tourism.
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