‘Very quiet': NZX up 0.45% as investors await earnings
The benchmark S&P/NZX 50 closed 0.45% higher on Monday at 12,910.74 points. The index has steadily gained since June, but remains over 1% down in the year-to-date.
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NZ Herald
15 hours ago
- NZ Herald
‘Very quiet': NZX up 0.45% as investors await earnings
The New Zealand stock market edged up on a slow day of trading as investors paused before the upcoming earnings season. The benchmark S&P/NZX 50 closed 0.45% higher on Monday at 12,910.74 points. The index has steadily gained since June, but remains over 1% down in the year-to-date. With 22.7
Mint
19 hours ago
- Mint
Banks boost Aussie shares higher; investors brace for corporate earnings
July 28 (Reuters) - Australian shares rose on Monday, led by gains in financial stocks, while investors braced for the start of the local corporate earnings season this week. The S&P/ASX 200 index rose 0.4% to 8,703.7 points by 0049 GMT, putting it less than 100 points below the lifetime high of 8,776.4 hit in mid June. The benchmark had dipped 0.5% on Friday. The earnings season begins this week, with mining major Rio Tinto set to lead the way when it reports its half-year results on July 30. Meanwhile, investors are awaiting the local inflation print, also due on Wednesday, for clues on the Reserve Bank of Australia's (RBA) path for interest rate cuts. On the local bourse, financials rose 0.5%, with the country's "Big Four" banks gaining between 0.2% and 0.7%. Technology stocks added 0.8%, tracking advances in Wall Street futures after the United States struck a trade deal with the European Union. Gold stocks climbed 1.2%, supported by a 4.7% rise in Bellevue Gold after its strong quarterly production update. Healthcare stocks grew 1.3%, while real estate stocks rose 0.8%, broadly in line with the benchmark. Miners lost 0.4% as iron ore prices fell. Energy stocks shed 0.5%, dragged down by uranium miner Boss Energy, which plummeted as much as 40.3% after warning of higher costs for its Honeymoon project in FY26 due to a decline in average tenor. Among individual stocks, logistics software maker WiseTech Global rose as much as 0.6% after naming chief of staff Zubin Appoo as its permanent chief executive, succeeding billionaire co-founder Richard White. New Zealand's benchmark S&P/NZX 50 index added 0.6% to 12,928.96 points. (Reporting by Adwitiya Srivastava in Bengaluru; Editing by Sumana Nandy)
Mint
7 days ago
- Mint
Australian shares rise on mining and gold boost; Insignia jumps on takeover deal
July 22 (Reuters) - Australian shares rose on Tuesday, helped by mining and gold stocks, as investors awaited minutes of the central bank's latest policy meeting for rate cues, while Insignia Financial jumped after agreeing to an A$3.3 billion takeover bid. The S&P/ASX 200 index climbed 0.3% to 8,692.5 by 0030 GMT, after closing 1% lower on Monday. The Reserve Bank of Australia (RBA) will release later in the day minutes of its July policy meeting where it may offer some insights into a rare split among policymakers before deciding to hold interest rates steady at 3.85%. A surprisingly soft jobs report last week has seen markets move to price a 90% chance that the central bank will cut rates next month. On the resources-heavy bourse, miners led the charge with a 2.4% rise, after iron ore futures closed higher overnight. Top miners BHP and Rio Tinto climbed 2.5% and 2.2%, respectively, while Fortescue advanced 2.1%. Gold stocks gained 3.1%, after bullion prices hit a five-week high overnight. Gold miner Northern Star Resources rose 2.7%, while Genesis Minerals advanced 5.7%. Limiting the benchmark index's gain, financials slipped 0.6%, while energy stocks declined 0.7%, tracking weakness in oil prices. Among individual stocks, Insignia Financial jumped 16% after the wealth manager agreed to an A$3.3 billion ($2.15 billion) takeover by investment manager CC Capital Partners. Champion Iron advanced 4.6% after the company said Nippon Steel and Sojitz Corp would invest an initial C$245 million ($179.08 million) in its Kami iron ore project in Canada for an aggregate 49% interest. New Zealand's benchmark S&P/NZX 50 index fell 0.7% to 12,874.11. ($1 = 1.5335 Australian dollars) ($1 = 1.3681 Canadian dollars) (Reporting by Roshan Thomas in Bengaluru; Editing by Subhranshu Sahu)
