Here are the key things you need to know about in the NZX markets over the past 24 hours. Changes are as at 3:00 pm and may change when the market closes at 4:45 pm.
WHAT THE NZX50 IS DOING
The NZX50 is up +0.5% Friday, ending the week down -1%. Over the month the index is up +0.15%, and up +5.8% for the year-to-date.
THE MAIN GAINERS
There are currently 44 gainers on the board today, Fletcher Building (FBU, #18) leads gaining +10%, ending the week up +3.6%. Heartland Group (HGH, #34) follows in second place up +5.8%, down -3.5% for the week. Freightways Group (FRW, #21) has the next biggest gain up +3.2%, followed by SkyCity (SKC, #26) up +2.8%.
THE MAIN DECLINERS
There are less decliners than gainers today now currently at 30 companies. The biggest decline is from Vista Group (VGL, #36) down -2.3%. VGL will now end the week with a gain of +0.7%. Air New Zealand (AIR, #20) has the next biggest decline down -1.8%, followed closely by Kathmandu Brands (KMD, #47) down -1.7%.
THE KEY ANNOUNCEMENTS
Fletcher Building (FBU, #18) has announced a "Joint Industry Response (JIR)" involving subsidiary Iplex Australia in order to address the current plumbing issues some homes are facing in Western Australia (WA). FBU is expecting to provide roughly A$155 million (NZ$168 million) for the response. JIR will be available to all homes in WA where a Pro-Fit pipe manufactured with Typlex resin is installed. Acting CEO Nick Traber has commented saying; "We acknowledge the efforts of Minister Ellery and the WA Government in facilitating a mediated outcome for the benefit of WA homeowners. We welcome this in-principle agreement with the WA Government and the many builders involved to address the WA plumbing failures. We further acknowledge the WA Government’s recognition that a product recall is not an appropriate response given the circumstances involved."
SECTOR HIGHLIGHT
NZX50 Industrial Sector
Select chart tabs
Click on the chart title to find more about this sector, including its components.
We welcome your comments below. If you are not already registered, please register to comment.
Remember we welcome robust, respectful and insightful debate. We don't welcome abusive or defamatory comments and will de-register those repeatedly making such comments. Our current comment policy is here.