Sharechat Logo

Stocks to watch: AMP, Fisher & Paykel, Air NZ, ALF, AIA, CCC, KPF

Tuesday 20th April 2010

Text too small?

NAB's bid for AXA Pacific Holdings has been ruled out, allowing AMP to merge with it instead. Fisher & Paykel Appliances faces product reliability complaints and Air New Zealand says its schedules haven’t been too affected by the Iceland volcanic ash eruption.

AMP (NZX: AMP ): Australia’s competition watchdog has ruled out NAB’s bid for AXA Pacific Holdings, allowing AMP to merge with it instead. The Australian Competition and Consumer Commission said “allowing NAB and AXA to merge would significantly diminish incentives to compete for retail investment platforms used by investors that have complex financial needs.” AMP shares dropped 15 cents yesterday to $8.30.

Fisher & Paykel Appliances (NZX: FPA ): The home appliance manufacturer has faced complaints about the reliability of its products on a US consumer website, Consumeraffairs.com, which allows people to submit complaints, the NZ Herald reported. Consumer NZ research manager Hamish Wilson said FPA’s products typically returned ‘average’ results in its reliability surveys, the report said. The shares fell 1.7% to 58 cents.

Air New Zealand (NZX: AIR ): The national carrier said as it only has 12 flights a week to Britain, its own network schedules haven’t been too affected by the Iceland volcanic ash eruption. However its shares declined 2.8% to $1.37 yesterday as the global airline industry assessed the cost of disruptions.

Allied Farmers (NZX: ALF ): The finance company said a 44% slump in its stock price since March 1 was probably a reaction to its first-half results and reduced valuation of its assets. The company made the comments in answer to an NZX share price inquiry yesterday. The stock rose 1.8% to 5.7 cents yesterday.

Auckland International Airport (NZX: AIA ): New Zealand’s biggest gateway is rated ‘outperform’ by First NZ Capital analyst Rob Bode, according to the ShareChat website. He said earnings will rebound in the year through June 2011 and beyond. The airport's domestic passenger movements will rise about 10% in September and October next year as a result of the Rugby World Cup. The shares fell 1 cent to $2 yesterday.

Cavotec MSL Holdings (NZX: CCC ): The engineering group whose products include a system for mooring ships said it has a record order book and sees signs of a global recovery, the BusinessDay website reported. The order book was US$73.4 million at March 31. The shares slipped 0.4% to $2.80 yesterday.

Kermadec Property Fund (KPF): The investor said the value of its property portfolio fell 3.9%, or $4.7 million in the 12 months ended March 31, reflecting two unexpected vacancies. The shares last traded at 48 cents.

 

Economic themes of the day: Figures today are expected to show inflation accelerated in the first quarter, helping determine the pace of interest rate hikes by the Reserve Bank, which reviews monetary policy next week.

The Consumer Price Index probably rose 0.6% in the first quarter for an annual pace of 2.3%, according to a Reutrers survey.

Wall Street gained as fears eased about fraud charges against Goldman Sachs Group and Citigroup Inc. posted better-than-expected first-quarter earnings.

The kiwi dollar lifted against the greenback to close at 70.97 from 70.68 overnight.

 

 

Businesswire.co.nz



  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

VCT - Operational performance for the year ended 30 June 2024
Challenge to banks the way to go
Bigger returns or lower risk?
NPH - Director Appointment
July 19th Morning Report
Wellington International Airport Ltd (“WIA040”) - Maturity
Devon Funds Morning Note - 18 July 2024
CNU - Commerce Commission releases draft Price Quality decision
Precinct FY24 Annual Results and Webcast Details
Scott Technology appoints new CEO