Latest news with #NZX50
Business Recorder
15-07-2025
- Business
- Business Recorder
Australian shares rise to record close as investors shrug off US tariff fears
Australian shares settled at a record high closing level on Tuesday, driven by gains in banks, healthcare and technology stocks, as investors shrugged off tariff worries. The S&P/ASX 200 index ended 0.7% higher at 8,630.30 points. The benchmark traded flat on Monday. Investors were unfazed by tariff concerns, having grown accustomed to U.S. President Donald Trump's unpredictable trade announcements and last-minute reversals. 'Traders now view the tariff threats as a bargaining tool and perhaps believe they'll settle at something digestible,' said Philip Pepe, senior analyst with Shaw and Partners. In Sydney, heavyweight financials led the surge with a 0.8% rise with the 'Big Four' banks rising between 0.2% and 0.7%. Citi analysts said the improving earnings outlook was boosting banks' shares, as the near-term prospects appeared more promising. 'We expect earnings to hold up this year as the impact from lower rates takes time to manifest in bank earnings,' Citi analysts wrote in a note. IT stocks rose 2.3%, having gained 2.5% earlier in the session. The sub-index mirrored its U.S. peers, with tech-heavy Nasdaq ending at a record high. Australia shares drift in tight range as tariff jitters drive safe-haven demand On the Sydney bourse, tech giant WiseTech rose 2.1%. Healthcare stocks added 2.1%, led by biotech giant CSL, which rose 3.6% to hit the highest since May 29 after it confirmed that it will trim its research and development division. Among other sectors trading in green, energy stocks rose 0.6% while consumer staples advanced 0.5%. The mining sub-index, however, fell 0.5% on profit-taking, snapping three sessions of consecutive gains. Mining giant BHP Group fell 1% while iron ore miner Rio Tinto lost 1.5%, a day ahead of its quarterly production results. New Zealand's benchmark S&P/NZX 50 index ended the day flat at 12,689.63 points.
Mint
15-07-2025
- Business
- Mint
Australian shares rise to record close as investors shrug off US tariff fears
CSL hit its highest level since May 29 July 15 - Australian shares settled at a record high closing level on Tuesday, driven by gains in banks, healthcare and technology stocks, as investors shrugged off tariff worries. The S&P/ASX 200 index ended 0.7% higher at 8,630.30 points. The benchmark traded flat on Monday. Investors were unfazed by tariff concerns, having grown accustomed to U.S. President Donald Trump's unpredictable trade announcements and last-minute reversals. "Traders now view the tariff threats as a bargaining tool and perhaps believe they'll settle at something digestible," said Philip Pepe, senior analyst with Shaw and Partners. In Sydney, heavyweight financials led the surge with a 0.8% rise with the "Big Four" banks rising between 0.2% and 0.7%. Citi analysts said the improving earnings outlook was boosting banks' shares, as the near-term prospects appeared more promising. "We expect earnings to hold up this year as the impact from lower rates takes time to manifest in bank earnings," Citi analysts wrote in a note. IT stocks rose 2.3%, having gained 2.5% earlier in the session. The sub-index mirrored its U.S. peers, with tech-heavy Nasdaq ending at a record high. On the Sydney bourse, tech giant WiseTech rose 2.1%. Healthcare stocks added 2.1%, led by biotech giant CSL, which rose 3.6% to hit the highest since May 29 after it confirmed that it will trim its research and development division. Among other sectors trading in green, energy stocks rose 0.6% while consumer staples advanced 0.5%. The mining sub-index, however, fell 0.5% on profit-taking, snapping three sessions of consecutive gains. Mining giant BHP Group fell 1% while iron ore miner Rio Tinto lost 1.5%, a day ahead of its quarterly production results. New Zealand's benchmark S&P/NZX 50 index ended the day flat at 12,689.63 points. This article was generated from an automated news agency feed without modifications to text.
Business Recorder
15-07-2025
- Business
- Business Recorder
Banks lift Australian shares; US-EU trade talk hopes buoy sentiment
Australian shares rose on Tuesday, driven by financial stocks, while glimmers of optimism returned to markets after U.S. President Donald Trump signalled a readiness to negotiate tariffs with the European Union, easing fears of a trade war. The S&P/ASX 200 index rose 0.5% to 8,615.1 points, as of 0039 GMT. The benchmark ended 0.1% lower on Monday. Trump escalated trade tensions over the weekend, threatening a 30% tariff on most EU and Mexican imports from August 1, setting a tight deadline for potential trade deals. The EU accused the U.S. of stalling and warned of retaliation, following which Trump signalled openness to talks, with EU officials set to visit Washington for trade negotiations, providing a positive push to markets worldwide. On the local bourse, heavyweight financial stocks gained 0.8%, with the country's 'big four' banks up between 0.6% and 0.9%. Technology stocks jumped about 1.5%, tracking overnight gains in Wall Street peers. Australia shares drift in tight range as tariff jitters drive safe-haven demand On the other hand, mining stocks declined 0.7%, as iron ore prices were subdued after hitting multi-month highs in the previous few sessions. BHP, the world's largest listed miner, dipped 0.7%, while Rio Tinto and Fortescue fell 1% and 0.8%, respectively. Meanwhile, miners also evaluated Australian Prime Minister Anthony Albanese's call for closer Australia–China cooperation on green steel during his six-day visit to China. Australia risks losing up to half its iron ore revenue if it doesn't pivot to producing green iron, a low-emissions alternative, as global steelmakers shift to renewable energy, a think tank warned last year. In New Zealand, the benchmark S&P/NZX 50 index rose 0.2% to 12,709.97 points.
NZ Herald
14-07-2025
- Business
- NZ Herald
IkeGPS continues run, up 8.6%; NZX 50 performance still bumpy
Kiwi Property Group led the way, rising 1.04% to $0.97, with Goodman Property not far behind, up 0.98% to $2.07. Singh also highlighted Briscoe Group, which gained 2.65% to $5.81. 'I think that's just a bit of volatility since it's been added into the NZX 50 recently,' Singh said. Gentrack was among the day's largest decliners, down 4.23% to $12 on volumes exceeding $1.7m in value traded. Ahead of close, Singh said there were 'two big trades that equate for about 95% of the volume'. Tech small caps IkeGPS Group shares lifted 8.6% to $1.01 after it announced it had successfully raised about A$18m (NZ$19.6m) through a fully underwritten share placement. The software company said its offer was strongly supported by existing investors and attracted several new long-term institutional investors from the ASX. The firm is trading at 52-week highs and is up above $1 for the first time since 2021. Black Pearl Group shares were up 7.08% to $1.21 after it said it had agreed to buy 100% of United States-based AI sales company B2B Rocket Inc. B2B Rocket uses AI agents to automate outbound sales for small and mid-sized businesses. It generates about US$2.1m (NZ$3.4m) in annual recurring revenue and is growing quickly in the US market. Chief executive Nick Lissette called the acquisition a 'classic 1 + 1 = 3″. In October last year, Black Pearl tapped investors for $10m to fund further expansion in the US. Like IkeGPS, the stock is up over 100% year on year. Elsewhere In a Forsyth Barr investor note, analysts Aaron Ibbotson and Benjamin Crozier raised their Ryman Healthcare target price by 20 cents to $2.85 because of earnings upgrades released late last week. Ibbotson and Crozier said forward-looking sales have improved to about 90% of their two-year average, up from 75% last quarter. 'One swallow does not make a summer, but we view this as an important step in de-risking the investment case.' The exchange's other two retirement operators, Summerset Group and Oceania Healthcare, were up 0.77% to $11.72 and down 1.32% to 75c, respectively. Singh said the industry would be watching the Real Estate Institute of NZ's (REINZ) data release on Tuesday, which would help the market see whether Ryman was a standout or part of a wider trend. He added that the index's largest constituent, Fisher & Paykel Healthcare, was yet to be visibly affected by US President Donald Trump's renewed tariffs on Mexico, where the firm manufactures many of its products. The stock lifted 0.79% to $35.90 on volumes worth nearly $6m. 'FPH did not move much today, despite that, because at the moment, the products that they ship out of Mexico are still exempt under a free-trade agreement,' he said. 'This kind of builds on that expectation that at some point there could be a hit in terms of the Mexican production that FPH has.'
NZ Herald
11-07-2025
- Business
- NZ Herald
F&P Healthcare drop leads NZX lower, rural stocks show strength
Declines in some leading stocks drove the New Zealand sharemarket lower, masking a positive tone in many stocks with exposure to the rural sector. The benchmark S&P/NZX 50 index ended 73.52 points or 0.58% down at 12,686.68, with 23.5 million shares worth $101.05 million trading. There were 70 rises and
