Sharechat Logo

Stocks to Watch: New Zealand Equity Preview

Tuesday 30th December 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: Crude oil rose 6.1% to $40.01 a barrel on the New York Mercantile Exchange amid escalating tensions in the Gaza Strip. Trading on the NZX amounted to just NZ$24 million yesterday and will likely remain subdued ahead of the New Year’s holiday.

AFFCO Holdings Ltd. (AFF): The North Island meat processor, which has widened its investments to include dairy products, has a strong balance sheet and will continue to develop as a broad food group, the company said in its annual report this week. The shares last traded on Dec. 24 at 38 cents and have gained about 15% this year.

Fisher & Paykel Healthcare Corp. (FPH): The manufacturer of breathing masks and respirators has gained about 4% in the past month, amid expectations demand for its medical products will continue unabated as global growth slows. The shares rose 3.2% to NZ$3.20 yesterday.

Fletcher Building (FBU): The nation’s largest construction company fell 3.5% to NZ$5.60 yesterday, extending last week’s slide after figures showed the biggest drop in U.S. home sales for 21 years. The stock is down almost 50% this year.

Kirkcaldie & Stains (KRK): The Wellington-based department store expects a subdued 2009 and the slowdown could last 18 months, according to managing director John Milford. Tax cuts, lower interest rates and falling prices for petrol were the start of a recovery of confidence, he said, according to the Dominion. The shares last traded at NZ$2.30 on Dec. 24.

New Zealand Oil & Gas (NZO): The oil company has built a 15% stake in Tui oilfield partner Pan Pacific Petroleum, increasing its exposure to the field. The shares were unchanged at NZ$1.22 yesterday and have gained 6% this year.

Sanford Ltd. (SAN): The fishing company is the biggest gainer on the NZX 50 Index this year, rising 22% while then benchmark fell 33%. Sanford has benefited from strong prices for fish in world markets and a weakening New Zealand dollar, which swells export returns. The shares were unchanged at NZ$5 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
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:

FreshLeaf: Cannabis on course to be 'medicine of the masses'
Arvida Group Limited (NZX: ARV) to Acquire Arena Living Retirement Living Portfolio
My Food Bag Group Limited (NZX: MFB) Market Update and HY Results Announcement Date
Harmoney Corp Limited (NZX: HMY) Delivers Record September Quarter
Vital Healthcare Property Trust (NZX: VHP) Announces Successful Completion of $115m Placement
14th October 2021 Morning Report
General Capital Limited (NZX: GEN) Completes Greenfern Listing
LISTING AND QUOTATION NOTICE: NZX MAIN BOARD - GREENFERN INDUSTRIES LIMITED
13th October 2021 Morning Report
Hotel Montreal: Patterson Family Buys Christchurch's Hotel Montreal