New Zealand shares rose to a month high as they rallied out of the Christmas holiday, notching up a weekly gain of 2.3%, its biggest in five weeks, even with the shortened trading period.
The S&P/NZX 50 index climbed 130.36 points, or 1%, to 13,205.10 – its highest close since Nov 27.
Ryman Healthcare led the benchmark index higher, rising 4.3% to $4.64, with health stocks broadly stronger. Pacific Edge climbed 5.6% to 13 cents, Green Cross Health advanced 2.4% to 84 cents and healthcare products firm Ebos Group increased 1.7% to $37.95. Vital Healthcare Property Trust posted the biggest decline on the top 50, slipping 2.2% to $1.79.
The kiwi dollar fell to 56.15 US cents at 5pm in Auckland from 56.31 cents at 7am and 56.42 cents on Christmas eve as rising US Treasury yields sapped investor demand for the antipodean currencies. It traded at 90.35 Australian cents from 90.46 cents on Tuesday.
International tailwind
That was broadly helpful for exporters, with Fisher & Paykel Healthcare – which is under pressure with the rise of weight-loss drugs being used to treat sleep apnoea and the incoming White House administration threatening tariffs on Mexican manufacturing – rising 0.7% to $38.60. Rubber goods maker Skellerup gained 4% to $4.20, while Tourism Holdings increased 1.9% to $2.10 and Air New Zealand advanced 1.7% to 59.5 cents.
A stronger gold price supported would-be miner Santana Minerals, which was up 5.8% at 54.5 cents.
Auckland International Airport was the most traded stock on a volume of 1.6 million. It rose 2.7% to $8.75.
Retailers were mixed after Worldline data showed a stronger Boxing Day sales followed a tepid Christmas runup for retail spending. Hallenstein Glasson declined 1.9% to $8.31, while KMD Brands rose 1.2% to 44 cents and Warehouse Group advanced 1% to $1.06. Briscoe Group was unchanged at $5.04 while Michael Hill International was unchanged at 65 cents.
Reporting by Paul McBeth. Image from Curious News.
