Monday 19th January 2009 |
Text too small? |
Themes of the day: Trading may be reduced by Wellington Anniversary Day, which will keep some firms away from the market today, and the Martin Luther King Day holiday in the US on Monday. The price of metals such as copper rebounded on Friday in the US while oil climbed before the close-out of the February Futures contract.
Pumpkin Patch (PPL): Jan Cameron, the cashed-up former owner of the Kathmandu chain, increased her stake in the retailer of children's clothing to 9.1% from 6.3% via on-market purchases, according to a filing to the NZX. Pumpkin Patch was one of the biggest decliners on the NZX 50 in the past 12 months and traded at 96 cents on Friday.
New Zealand Farming Systems Uruguay (NZS): The European Union is reviving export subsidies for its dairy farmers this week, a move that may accelerate a slide in prices for milk products lower. Export subsidies will be reinstated for butter, cheese and skimmed milk powder, according to EU Agriculture Commissioner Mariann Fischer Boel. Shares of the company, which develops dairy farms in South America based on New Zealand's intensive farming techniques, were last at 60 cents and have dropped 59% in the past 12 months.
New Zealand Oil & Gas (NZO): Crude oil for February delivery rose 3.1% to US$36.51 a barrel on the New York Mercantile Exchange on Friday. NZOG's stock was last at $1.23.
Restaurant Brands New Zealand (RBD): The franchise holder for Pizza Hut and KFC outlets may benefit as the recession spurs more people to 'trade-down' to takeaway meals from more expensive dining. The downturn is change New Zealanders spending habits, with a preference for takeaways and supermarket purchases over restaurant meals, Coriolis Research analyst Tim Morris said, according to the Dominion Post. Last month Restaurant Brands posted third-quarter sales growth of 0.8%. The company's shares were last at 67% and are down 25% in the past 12 months.
Warehouse Group (WHS): Government figures this week may show retail sales fell 0.9% in November from the previous month, according to the median estimate in a Reuters survey. Excluding autos, sales growth probably stalled after climbing 0.8% in the previous month. Warehouse stock last traded at $3.60 and are down 37% in the past 12 months.
No comments yet
EBOS announces appointment of new Chief Financial Officer
AM Best affirms Tower Limited's A- (Excellent) FSR
MCK enters into conditional agreement for Whangarei land
April 26th Morning Report
SPG - Change to Executive Team
BGI - Forgiveness of $200,000 of secured indebtedness
General Capital Subsidiary General Finance Market Update
AFT,Massey Ventures,Gilles McIndoe to develop scar treatmen
April 24th Morning Report
Cheers to many fewer grape harvest spills