The following stocks may be active on the New Zealand exchange after developments since the close of trading. All prices are in New Zealand dollars unless specified.
Themes of the day: The government is set to release growth figures for the second quarter today, with the market betting the New Zealand economy grew at a pace of 0.5 in the three months to June 30. Global equities fell sharply after the U.S. Federal Reserve failed to unveil further monetary stimulus at its Federal Open Market Committee Meeting. On Wall Street, the Standard & Poor's 500 Index fell 2.9%, while Europe's Stoxx 600 closed 1.7% lower.
Air New Zealand (AIR): The national carrier looks to be one of the major beneficiaries from the Rugby World Cup, with 4,400 additional tourists arriving in New Zealand specifically for the sporting event, according to Statistics New Zealand. AIR shares were unchanged yesterday at $1.09.
Claridge Capital Ltd. (CLA): An annual meeting showdown looms between two of the company's directors and an activist shareholder. Substantial shareholder Flinders Holdings has put forward resolutions to dump chairman Evan Davies and independent director Roger Gower, and replace them with accountant Donald Gibson and Brett Wilkinson. CLA shares last traded at 0.7 cents apiece on Aug. 19.
Kathmandu Holdings (KMD): The outdoor clothing and equipment maker rose 0.5% yesterday to $2.20 delivered a full year net profit of $39.1 million, up from $25.2 million last year. Pretax profits rose 32 percent in the year to $64 million on the back of a 24.5 percent improvement in sales to $306.1 million, more or less in line with a forecast by Goldman Sachs.
NZF Group (NZF): The receivers of NZF Money, the deposit-taking subsidiary of NZF Group, said debenture holders are likely to face a shortfall due to "material" impairments it expects to make to the $28.3 million loan book. Debenture holders are owned $16.4 million. NZF share were unchanged yesterday at 3.5 cents.
OceanaGold Corp. (OGC): The miner, which operates the Macraes and Reefton gold fields, rose 4% to $3.41 yesterday with the stock’s inclusion into the NZX 50 benchmark last week forcing fund managers whose investment track the index to buy the company's New Zealand-listed stock.
Telecom Corp. (TEL): New Zealand's phone company has sweetened its offer to bond holders owed $541 million in a bid to get the proposed demerger over the line. The company raised the fee on offer to its Telebond holders to 0.5% from 0.25% previously, and committed to topping up annual interest payments by 0.5 percentage points if its credit rating is cut below the ‘A’ band. TEL shares rose 1.2% yesterday to $2.60.
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