Sharechat Logo

Stocks to watch: New Zealand equity preview

Wednesday 9th July 2008

Text too small?
The following stocks may be active on the New Zealand exchange after developments since the close of trading yesterday.

Themes of the day: US stocks gained as the price of crude oil extended its slide. Fannie Mae and Freddie Mac, the biggest US mortgage finance companies, rebounded from 13-year lows after a regulator said the mortgage-finance companies shouldn't have to need to raise more capital. At home, economists are predicting inflation will peak at more than the central bank has forecast as companies raise prices to make up for soaring costs of raw material.

AFFCO Holdings (AFF): The meat processorís 44% owned Dairy Trust yesterday announced a deal with Singapore-based agricultural products distributor Olam International to build a nationwide milk processor capable of challenging Fonterra.

Cavotec MSL Holding (CCC): Shares of the developer of ship tethering systems rose 5.7% yesterday after the company said it won an order to supply 12 of its MoorMaster automated mooring units for the APM Terminals container facility at the Port of Salalah in Oman.

New Zealand Refining Ltd (NZR): New Zealandís only oil refiner fell 3 cents to NZ$6.97 yesterday. The price of crude oil has extended its slide in New York trading yesterday.

Telecom Corp (TEL): New Zealandís largest phone company yesterday said its sale of 200 million Swiss francs of bonds was fully subscribed and that investors were attracted to the companyís strong cash flows. The stock rose to NZ$3.47 yesterday.

By Jonathan Underhill

  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
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:

28th October 2021 Morning Report
Wellington Drive Technologies Limited (NZX: WDT) Performs Strongly in Q3-2021
Ryman Healthcare Limited (NZX: RYM) Acquires Extensions to Two Existing Victorian Sites
Promisia Healthcare Limited (NZX: PHL) Banking Covenant Update
Pictor Limited Announces Start of US Clinical Trials for SARS-CoV-2 Serology Test
Arvida Group Limited (NZX: ARV) Opening of Rights Offer
Move Logistics Group Limited (NZX: MOV) Announces $40m Capital Raise
27th October 2021 Morning Report
The a2 Milk Company Limited (NZX: ATM) Investor Day 2021
Contact Energy Limited (NZX: CEN) Considers Green Capital Bond Offer