tmmonline.nz  |   landlords.co.nz        About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds

NZ's Financial Adviser News Centre

GR Logo
Last Article Uploaded: Saturday, December 21st, 2:19PM

Investments

rss
The Markets

Aussie investors spot value in A2 Milk

New Zealand's main share index rose as an Australian stockbroker recommended investors buy shares in A2 Milk saying demand for its products was showing signs of recovery.

Tuesday, April 13th 2021, 6:25PM

by BusinessDesk

The S&P/NZX 50 Index rose 137.71 points, or 1.1%, to 12,656.42. Within the index, 27 stocks fell, 18 rose and five were unchanged. Turnover was $190.8 million.

The index’s biggest stock, Fisher & Paykel Healthcare, drove much of the headline gain as the volatile stock jumped 3.8% to $33.39, also driven by buying from Australian investors.

A2 Milk had the day’s more significant change as its shares climbed 3.7% to $8.89, with more than 1 million shares changing hands. The stock is up more than 6% in the past week.

Brokerage and advisory firm, Bell Potter today said daigou trade channels are showing signs of life after being effectively shut down during the pandemic.

A2 Milk’s profit expectations have plummeted without the ‘grey market’ exporters who are a key sales channel for the milk marketing firm.

Bell Potter said infant milk formula exports to China had increased for two consecutive months which was “positive signal” that demand for A2 Milk’s products may be returning.

The broker added more than $700 million to its valuation of the company, recommending a share price of A$9.50, or $10.30 in New Zealand dollars.

Pushpay Holdings had the day’s biggest decline, falling 2% to $1.93, as investors continued to digest a highly critical report from Forsyth Barr which said the church donation platform had missed its chance to win market share during the pandemic.

Shares in SkyCity Entertainment declined 1.2% to $3.43. The casino operator today announced it will stop dealing with junket operators to avoid being caught up in money laundering schemes. 

The decision is in reaction to Crown Resorts, Australia's largest gambling group, being found declared “unfit” to operate a A$2.2 billion gaming resort after it was linked to international criminal gangs.

NZ Refining has also caught the attention of regulators, with NZX’s independent arm asking the oil company why it hasn’t updated shareholders on its negotiations with Z Energy and Mobil about converting the refinery into an import terminal.

The market seemed less concerned, and its shares increased 1.1% to 48 cents.

The kiwi dollar was trading 70.08 US cents at 5pm in Wellington, down from 70.24 cents yesterday.

The trade-weighted index was at 73.74 at 5pm, from 73.93 yesterday. The kiwi traded at 92.23 Australian cents from 92.41 cents, 76.90 yen from 76.97 yen, 58.94 euro cents from 59.10 cents, 51.02 British pence from 51.34 pence, and 4.5889 Chinese yuan from 4.6031 yuan.

Tags: Market Close

« Shares sink on shock CEO resignationsMarket ‘perfectly priced’ for placeholder monetary review »

Special Offers

Comments from our readers

No comments yet

Sign In to add your comment

 

print

Printable version  

print

Email to a friend
News Bites
Latest Comments
  • [The Wrap] The year that was - and what may happen next year
    “Hope you have a good recovery Phil. Interesting points 1.Box ticking already happening with SOA 's that look identical...”
    10 hours ago by Very Frustrated Adviser
  • [The Wrap] The year that was - and what may happen next year
    “Nice summary Phil. In short: . Consumers will expect more from the industry for less . Advisers will be increasingly time...”
    10 hours ago by Pragmatic
  • The good guys get told off
    “I can't quite reconcile the rationale, or lack thereof, with the comments so far. Pathfinder were found to have made misleading...”
    3 days ago by John Milner
  • The good guys get told off
    “As a follow on to this conversation: I'm assuming that the Regulator will be consistent by 'naming and shaming' the other...”
    3 days ago by Pragmatic
  • The good guys get told off
    “FMA does not understand the consequences of these type of actions A number of Insurance Companies were taken to court and...”
    3 days ago by LNF
Subscribe Now

AM Update - Your morning business news update

Previous News

MORE NEWS»

Most Commented On
Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
AIA - Back My Build 4.94 - - -
AIA - Go Home Loans 7.49 5.79 5.49 5.59
ANZ 7.39 6.39 6.19 6.19
ANZ Blueprint to Build 7.39 - - -
ANZ Good Energy - - - 1.00
ANZ Special - 5.79 5.59 5.59
ASB Bank 7.39 5.79 5.49 5.59
ASB Better Homes Top Up - - - 1.00
Avanti Finance 7.90 - - -
Basecorp Finance 8.35 - - -
BNZ - Classic - 5.99 5.69 5.69
Lender Flt 1yr 2yr 3yr
BNZ - Mortgage One 7.54 - - -
BNZ - Rapid Repay 7.54 - - -
BNZ - Std 7.44 5.79 5.59 5.69
BNZ - TotalMoney 7.54 - - -
CFML 321 Loans ▼5.80 - - -
CFML Home Loans ▼6.25 - - -
CFML Prime Loans ▼7.85 - - -
CFML Standard Loans ▼8.80 - - -
China Construction Bank - 7.09 6.75 6.49
China Construction Bank Special - - - -
Co-operative Bank - First Home Special - 5.69 - -
Lender Flt 1yr 2yr 3yr
Co-operative Bank - Owner Occ 6.95 5.79 5.59 5.69
Co-operative Bank - Standard 6.95 6.29 6.09 6.19
Credit Union Auckland 7.70 - - -
First Credit Union Special - 5.99 5.89 -
First Credit Union Standard 7.69 6.69 6.39 -
Heartland Bank - Online 6.99 5.49 5.39 5.45
Heartland Bank - Reverse Mortgage - - - -
Heretaunga Building Society ▼8.15 ▼6.50 ▼6.30 -
ICBC 7.49 5.79 5.59 5.59
Kainga Ora 7.39 5.79 5.59 5.69
Kainga Ora - First Home Buyer Special - - - -
Lender Flt 1yr 2yr 3yr
Kiwibank 7.25 6.69 6.49 6.49
Kiwibank - Offset 7.25 - - -
Kiwibank Special 7.25 5.79 5.59 5.69
Liberty 8.59 8.69 8.79 8.94
Nelson Building Society 7.94 5.75 5.99 -
Pepper Money Advantage 10.49 - - -
Pepper Money Easy 8.69 - - -
Pepper Money Essential 8.29 - - -
SBS Bank 7.49 6.95 6.29 6.29
SBS Bank Special - 5.89 5.49 5.69
SBS Construction lending for FHB - - - -
Lender Flt 1yr 2yr 3yr
SBS FirstHome Combo 4.94 4.89 - -
SBS FirstHome Combo - - - -
SBS Unwind reverse equity ▼9.39 - - -
TSB Bank 8.19 6.49 6.39 6.39
TSB Special 7.39 5.69 5.59 5.59
Unity 7.64 5.79 5.55 -
Unity First Home Buyer special - 5.49 - -
Wairarapa Building Society 7.70 5.95 5.75 -
Westpac 7.39 6.39 6.09 6.19
Westpac Choices Everyday 7.49 - - -
Westpac Offset 7.39 - - -
Lender Flt 1yr 2yr 3yr
Westpac Special - 5.79 5.49 5.59
Median 7.49 5.79 5.69 5.69

Last updated: 18 December 2024 9:46am

About Us  |  Advertise  |  Contact Us  |  Terms & Conditions  |  Privacy Policy  |  RSS Feeds  |  Letters  |  Archive  |  Toolbox  |  Disclaimer
 
Site by Web Developer and eyelovedesign.com