Here are the key things you need to know about in the NZX markets over the past 24 hours. Changes are as at 3:00 pm and may change when the market closes at 4:45 pm.
WHAT THE NZX50 IS DOING
Following a late surge from yesterday the NZX50 gained another +0.5% today to finish the week up +0.8%. This puts the index up +11% year-on-year.
THE MAIN GAINERS
There are 37 gainers to finish the week in the NZX equity markets. a2 Milk (ATM, #10) finished on a high surging +11.5% currently at $6.80 per share. a2 Milk gained +18.3% for the week, taking its year-on-year gain to +47%. Kathmandu Brands (KMD, #48) jumped +8.7% with the company looking to turn its year around from a 1Y decline of -40.5%. Serko (SKO, #45) gain +5.1% today, ending the week up +9.2% followed by Vista Group (VGL, #36) up +4.2%. Back on the gainers list again the groups strong performance continues, ending the week up +9.2%. This puts VGL's 1Y gain at a massive +101.4%.
A2 Milk
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THE MAIN DECLINERS
There are 47 decliners on the market. Fletcher Building's (FBU, #18) struggles worsen down -2.8%. Fletcher's year-on-year decline goes to -37%. Scales Corp (SCL, #39) have the next biggest decline falling -2.3%, ending the week down -2.8%. Turners Automotive (TRA, #46) decline -2.2% but finish the week level. Over the last year the company gains an impressive +20%. Lastly comes Spark (SPK, #9) down -2.1%. If you missed yesterdays announcement by Spark, its Finance Director Stephan Knight resigned, effective in December. Year-on-year SPK has slumped -36%.
Fletcher Building
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SMARTSHARES EFTs
| 1-day | 5-day | 6-month | YTD | 1Y | |
| NZ Top 50 ETF (FNZ) | +0.2% | +0.5% | +3.9% | +4.9% | +9.4% |
| NZ Top 10 ETF (TNZ) | +0.7% | +1.5% | +1.5% | +2.5% | +3.9% |
| S/P NZX50 ETF (NZG) | +1.2% | +0.9% | +4.1% | +5.8% | +8.5% |
| NZ Dividend ETF (DIV) | -0.4% | -0.6% | -3.6% | -4.4% | -3.6% |
KEY ANNOUNCEMENTS
The Warehouse Group (WHS, #42) announced that it will hold its Annual Shareholders' Meeting on Friday, November 22, 2024. Currently the Director nominations are open, and will close on the 11th of October.
Air New Zealand's (AIR, #20) Chief Operational integrity and Safety Officer has stepped away from his Leadership position today. Captain David Morgan, who has served at Air New Zealand for over 40 years, will no longer work a part of Air NZ's corporate division, instead continuing his role in flying for the company. Air New Zealand CEO Greg Foran commented on the announcement saying “When people think of Air New Zealand, many Kiwi will know or have heard of Captain David Morgan. He’s represented the airline on the ground and in the skies with the highest level of excellence, and I speak on behalf of all Air New Zealanders past and present when I say a heartfelt thank you for his service."
Air New Zealand
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NZX50 Industrial Sector
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Click on the chart title to find more about this sector, including its components.
2 Comments
A2 are now in a trading halt, ASX announcement states they are going to announce an acquisition (by them, not of them).
Disappointing to see the apparent trading front-running the news, but must be something interesting to get that kind of pop. Usually the acquirer doesn't jump, just the acquired. Maybe there was just some ambiguous noise around the company and people assumed they were the target?
The tide's going out fast on "sinecure" directors. Spark, like Fletchers, had been treading water, but tough times are exposing their flab. Their finance director has resigned...I wonder why?
Also, interesting this week was Bruce Hassall, ex-chair of Fletcher Building, withdrawing his nomination from election to the Vector Board.
Vector's announcement said: "Mr Hassall reached this decision after recent feedback from some Vector shareholders given his previous role as chair of Fletcher Building."
How on earth's name was his nomination even accepted by Vector in the first place? It reflects bably on the Vector board that he was allowed to get his foot in the door.
Retire quietly and gracefully Mr Hassall, the days of cosy directorships are over, hopefully.
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