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BusinessDesk: Stocks to Watch: Air New Zealand, Cavotec MSL, Goodman Fielder, Heartland New Zealand, Pumpkin Patch, Sanford, Skellerup

BusinessDesk: Stocks to Watch: Air New Zealand, Cavotec MSL, Goodman Fielder, Heartland New Zealand, Pumpkin Patch, Sanford, Skellerup

The following stocks may be active on the New Zealand exchange after developments since the close of trading. All prices are in New Zealand dollars unless specified.

Themes of the day: Europe's unfolding debt crisis will likely hog the spotlight again today, with no local data of importance expected today. Global equities rose for a second session amid signs that euro zone policy markets are looking to expand the size of the European Financial Stability Fund through leverage. On Wall Street, the Standard & Poor's 500 Index rose 1.2%, while in Europe the Stoxx 600 Index rose 1.9%, and the 19-commodity Thompson Reuters Jefferies CRB Index rose 0.4% to 303.10.

Air New Zealand Ltd. (AIR): The national carrier has lifted its stake in partner Virgin Blue Holdings, taking advantage of the Australian airline’s weak share price. Air NZ paid A$32.8 million, or 29.7 cents per share, to lift its stake 5 percentage points to 19.99%. Since buying the initial Virgin stake in January, Air NZ has made a paper loss of A$42.8 million. AIR shares were unchanged yesterday at $1.08.

Cavotec MSL Holdings (CCC): The global engineering company said its application to list on the NASDAQ OMX Stockholm has been approved by the securities market operator, and its scheme of arrangement to delist from the NZX has been cleared by the New Zealand High Court. CCC shares were unchanged yesterday at $2.45.

Goodman Fielder Ltd. (GFF): The food manufacturer plans to raise new capital and has asked for a trading halt. Trading in the dual-listed company’s shares and bonds has been stopped ahead of the announcement of a capital raising plan, the company said in a statement. It expects to resume trading on Friday. GFF shares rose 1.3% yesterday to 76 cents.

Heartland New Zealand Ltd. (HNZ): The financial services company looking to transform itself into a bank is in line to benefit by between $5 million and $6 million dollars from a deferred tax credit. The company said the one-off gain will boost its profit target of $20 million to $24 million for the June 2012 year. HNZ shares fell 5.7% yesterday to 50 cents.

Pumpkin Patch (PPL): the children’s clothing chain is scheduled to release full-year earnings. The shares were at 89 cents yesterday.

Sanford Ltd. (SAN): The government has approved an increase to hoki fishing quotas in the coming season, despite calls from fisheries company Sanford for the current levels to remain in place, according to a Fairfax Media report. Fisheries minister Phil Heatley said research indicated the hoki numbers had fully recovered from its decline and the current population could support an even greater catch increase. SAN shares were unchanged yesterday at $5.04.

Skellerup Holdings (SKL): The rubber goods manufacturer announced it will ask shareholders to approve a 50% hike in non-executive directors’ fees, which it said was needed to attract and retail talent on its board. The company said it is looking to increase the total fee pool to $475,000 from $320,000, effective from July 1. SKL shares fell 0.9% yesterday to $1.17.

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 Fear, fear - when the world turns crazy – and does stupid things – daily ! Be prepared the world is changing fast !



Andrew - I didn't know you already submitted that video earlier, but Gummy made me aware of it with his comments about the guy.

Scary stuff anyway, because

  Looking into current developments on many fronts – the world will never recover again, simply because among the powerful in societies ethic and moral requirements and standards don’t prevail


Walter : That isn't " Andrew " you're responding to , it's yourself ! ... You're blogging to yourself again , Kunzie . Not a good sign , that ..... is it Gummy ? .. No it isn't !


..and when employment goes - good bye societies - riots will rule -

 …and I see a high number of young people walking the street doing nothing – recession ?

...and I see the PM - Ministers Joyce and Brownlee saying: All imported, because it is cheaper.

 ...and I see more idiots saying the same. ...and I see more young people walking the streets doing nothing.

 ...and I see young people getting together forming gangs - not working gangs constructing our most needed infrastructures in factories - but destructing.

 … and I see Joyce/ Brownlee saying in parliament we do need more police.

…and I see the public saying – Yes, we do need more police.

….and we do have more police. …and we do build more prisons.

…and we build more prisons not factories.

...and I see  Joyce/ Brownlee saying in parliament we do need more money.

..and the public says: Yes, Joyce and Brownlee are right we do need money.

… and the recession is here and we are stuffed as a nation – because there is no money !


Vote for Goofy & the Goofettes , then . They'll create money enough for everyone . All can get a benefit ... no one need miss out . Free money .

..... and the miracle cure , Walter ? ........ A comprehensive Capital Gains Tax !

Yes , that will fix everything . Only the rich need fear the wrath of Labour ! .. everyone else gets a free ride .