NZ Herald
  • Home
  • Latest news
  • Herald NOW
  • Video
  • New Zealand
  • Sport
  • World
  • Business
  • Entertainment
  • Podcasts
  • Quizzes
  • Opinion
  • Lifestyle
  • Travel
  • Viva
  • Weather

Subscriptions

  • Herald Premium
  • Viva Premium
  • The Listener
  • BusinessDesk

Sections

  • Latest news
  • New Zealand
    • All New Zealand
    • Crime
    • Politics
    • Education
    • Open Justice
    • Scam Update
  • Herald NOW
  • On The Up
  • World
    • All World
    • Australia
    • Asia
    • UK
    • United States
    • Middle East
    • Europe
    • Pacific
  • Business
    • All Business
    • MarketsSharesCurrencyCommoditiesStock TakesCrypto
    • Markets with Madison
    • Media Insider
    • Business analysis
    • Personal financeKiwiSaverInterest ratesTaxInvestment
    • EconomyInflationGDPOfficial cash rateEmployment
    • Small business
    • Business reportsMood of the BoardroomProject AucklandSustainable business and financeCapital markets reportAgribusiness reportInfrastructure reportDynamic business
    • Deloitte Top 200 Awards
    • CompaniesAged CareAgribusinessAirlinesBanking and financeConstructionEnergyFreight and logisticsHealthcareManufacturingMedia and MarketingRetailTelecommunicationsTourism
  • Opinion
    • All Opinion
    • Analysis
    • Editorials
    • Business analysis
    • Premium opinion
    • Letters to the editor
  • Politics
  • Sport
    • All Sport
    • OlympicsParalympics
    • RugbySuper RugbyNPCAll BlacksBlack FernsRugby sevensSchool rugby
    • CricketBlack CapsWhite Ferns
    • Racing
    • NetballSilver Ferns
    • LeagueWarriorsNRL
    • FootballWellington PhoenixAuckland FCAll WhitesFootball FernsEnglish Premier League
    • GolfNZ Open
    • MotorsportFormula 1
    • Boxing
    • UFC
    • BasketballNBABreakersTall BlacksTall Ferns
    • Tennis
    • Cycling
    • Athletics
    • SailingAmerica's CupSailGP
    • Rowing
  • Lifestyle
    • All Lifestyle
    • Viva - Food, fashion & beauty
    • Society Insider
    • Royals
    • Sex & relationships
    • Food & drinkRecipesRecipe collectionsRestaurant reviewsRestaurant bookings
    • Health & wellbeing
    • Fashion & beauty
    • Pets & animals
    • The Selection - Shop the trendsShop fashionShop beautyShop entertainmentShop giftsShop home & living
    • Milford's Investing Place
  • Entertainment
    • All Entertainment
    • TV
    • MoviesMovie reviews
    • MusicMusic reviews
    • BooksBook reviews
    • Culture
    • ReviewsBook reviewsMovie reviewsMusic reviewsRestaurant reviews
  • Travel
    • All Travel
    • News
    • New ZealandNorthlandAucklandWellingtonCanterburyOtago / QueenstownNelson-TasmanBest NZ beaches
    • International travelAustraliaPacific IslandsEuropeUKUSAAfricaAsia
    • Rail holidays
    • Cruise holidays
    • Ski holidays
    • Luxury travel
    • Adventure travel
  • Kāhu Māori news
  • Environment
    • All Environment
    • Our Green Future
  • Talanoa Pacific news
  • Property
    • All Property
    • Property Insider
    • Interest rates tracker
    • Residential property listings
    • Commercial property listings
  • Health
  • Technology
    • All Technology
    • AI
    • Social media
  • Rural
    • All Rural
    • Dairy farming
    • Sheep & beef farming
    • Horticulture
    • Animal health
    • Rural business
    • Rural life
    • Rural technology
    • Opinion
    • Audio & podcasts
  • Weather forecasts
    • All Weather forecasts
    • Kaitaia
    • Whangārei
    • Dargaville
    • Auckland
    • Thames
    • Tauranga
    • Hamilton
    • Whakatāne
    • Rotorua
    • Tokoroa
    • Te Kuiti
    • Taumaranui
    • Taupō
    • Gisborne
    • New Plymouth
    • Napier
    • Hastings
    • Dannevirke
    • Whanganui
    • Palmerston North
    • Levin
    • Paraparaumu
    • Masterton
    • Wellington
    • Motueka
    • Nelson
    • Blenheim
    • Westport
    • Reefton
    • Kaikōura
    • Greymouth
    • Hokitika
    • Christchurch
    • Ashburton
    • Timaru
    • Wānaka
    • Oamaru
    • Queenstown
    • Dunedin
    • Gore
    • Invercargill
  • Meet the journalists
  • Promotions & competitions
  • OneRoof property listings
  • Driven car news

Puzzles & Quizzes

  • Puzzles
    • All Puzzles
    • Sudoku
    • Code Cracker
    • Crosswords
    • Cryptic crossword
    • Wordsearch
  • Quizzes
    • All Quizzes
    • Morning quiz
    • Afternoon quiz
    • Sports quiz

Regions

  • Northland
    • All Northland
    • Far North
    • Kaitaia
    • Kerikeri
    • Kaikohe
    • Bay of Islands
    • Whangarei
    • Dargaville
    • Kaipara
    • Mangawhai
  • Auckland
  • Waikato
    • All Waikato
    • Hamilton
    • Coromandel & Hauraki
    • Matamata & Piako
    • Cambridge
    • Te Awamutu
    • Tokoroa & South Waikato
    • Taupō & Tūrangi
  • Bay of Plenty
    • All Bay of Plenty
    • Katikati
    • Tauranga
    • Mount Maunganui
    • Pāpāmoa
    • Te Puke
    • Whakatāne
  • Rotorua
  • Hawke's Bay
    • All Hawke's Bay
    • Napier
    • Hastings
    • Havelock North
    • Central Hawke's Bay
    • Wairoa
  • Taranaki
    • All Taranaki
    • Stratford
    • New Plymouth
    • Hāwera
  • Manawatū - Whanganui
    • All Manawatū - Whanganui
    • Whanganui
    • Palmerston North
    • Manawatū
    • Tararua
    • Horowhenua
  • Wellington
    • All Wellington
    • Kapiti
    • Wairarapa
    • Upper Hutt
    • Lower Hutt
  • Nelson & Tasman
    • All Nelson & Tasman
    • Motueka
    • Nelson
    • Tasman
  • Marlborough
  • West Coast
  • Canterbury
    • All Canterbury
    • Kaikōura
    • Christchurch
    • Ashburton
    • Timaru
  • Otago
    • All Otago
    • Oamaru
    • Dunedin
    • Balclutha
    • Alexandra
    • Queenstown
    • Wanaka
  • Southland
    • All Southland
    • Invercargill
    • Gore
    • Stewart Island
  • Gisborne

Media

  • Video
    • All Video
    • NZ news video
    • Herald NOW
    • Business news video
    • Politics news video
    • Sport video
    • World news video
    • Lifestyle video
    • Entertainment video
    • Travel video
    • Markets with Madison
    • Kea Kids news
  • Podcasts
    • All Podcasts
    • The Front Page
    • On the Tiles
    • Ask me Anything
    • The Little Things
  • Cartoons
  • Photo galleries
  • Today's Paper - E-editions
  • Photo sales
  • Classifieds

NZME Network

  • Advertise with NZME
  • OneRoof
  • Driven Car Guide
  • BusinessDesk
  • Newstalk ZB
  • Sunlive
  • ZM
  • The Hits
  • Coast
  • Radio Hauraki
  • The Alternative Commentary Collective
  • Gold
  • Flava
  • iHeart Radio
  • Hokonui
  • Radio Wanaka
  • iHeartCountry New Zealand
  • Restaurant Hub
  • NZME Events

SubscribeSign In

Advertisement
Advertise with NZME.
Home / Business / Economy

NZ shares in 'catch-up' fall

BusinessDesk
8 Jan, 2016 06:37 AM4 mins to read

Subscribe to listen

Access to Herald Premium articles require a Premium subscription. Subscribe now to listen.
Already a subscriber?  Sign in here

Listening to articles is free for open-access content—explore other articles or learn more about text-to-speech.
‌
Save

    Share this article

Nuplex Industries, Xero, Chorus and 37 other stocks fell, while A2 Milk Co gained after a week of declines.

Nuplex Industries, Xero, Chorus and 37 other stocks fell, while A2 Milk Co gained after a week of declines.

New Zealand's benchmark NZX 50 Index fell as the market caught up with global losses on a day of relatively subdued trading.

Nuplex Industries, Xero, Chorus and 37 other stocks fell, while A2 Milk Co gained after a week of declines.

The S&P/NZX 50 Index fell 55.29 points, or 0.9 percent, to 6158.1. Within the index, 40 stocks fell, six were unchanged and four rose.

Turnover was $86.3 millionThe decline came as shares across Asia were largely positive, with China's Shanghai Shenzhen CSI 300 Index rising 2.8 percent in afternoon trading, Hong Kong's Hang Seng up 1.2 percent, and Japan's Nikkei 225 Index up 0.1 percent.

Australia's S&P/ASX 200 fell 0.5 percent on the afternoon's trading, seeing its fifth straight day of decline with concerns about slowing Chinese growth continuing to weigh on equity markets.

Advertisement
Advertise with NZME.
Advertisement
Advertise with NZME.

"It's a little bit of a correction," said Grant Davies, investment adviser at Hamilton Hindin Greene.

"While New Zealand may be one of the worst-performing markets in the area today, we've been the best performing market in the past year. We haven't come back as far as Australia over the last couple of days, so this is a bit of a catch-up.

"The lack of volume today also suggests it's a bit overblown, there's a lack of buyers and liquidity rather than people rushing for the exits," he said.

Advertisement
Advertise with NZME.

"New Zealand is a reasonably small market, and some people are taking profit to move into other markets overseas."

Nuplex led the index lower, dropping 3.6 percent to $4.50. Xero fell 3.3 percent to $17.50, and Chorus declined 2.3 percent to $3.90.There is "no reason to panic" about Xero, Davies said. T the stock is notoriously volatile, and a 3 percent move either way isn't unusual. Fisher and Paykel Healthcare fell 2.2 percent to $8.37.

Freightways dropped 1.9 percent to $6.13, a five-week low, and Warehouse Group fell 1.9 percent to $2.60. New Zealand Refining fell 1.9 percent to $3.63.NZX dropped 1.9 percent to $1.03.

The listing of local government bonds and share sales by Australian banks to bolster their balance sheets eclipsed capital raised from initial public offerings in 2015, according to NZX's shareholder metrics released today.

A total of $1.7 billion of new capital was raised from IPOs and compliance listings last year, down from $4.7 billion in 2014, while $8.1 billion of new debt was listed, up from $1.7 billion.

Metro Performance Glass fell 1.8 percent to $1.66 and Trustpower dropped 1.8 percent to $7.71.

The handful of stocks which rose today were led by A2 Milk Co, which had tumbled in the first week of trading fro 2016 as nervousness about China sapped the stock's pre-Christmas momentum.

A2 rose 2.3 percent today to $1.78, having fallen nearly 22 percent from its Dec. 29 record high of $2.27.Steel & Tube Holdings rose 2.2 percent to $2.30, and Meridian rose 0.2 percent to $2.30.

Air New Zealand was the only other stock to rise today, up 0.2 percent to $2.95. Outside the benchmark index, IkeGPS was unchanged at 70 cents, valuing the company at $35 million.

The laser measurement tool developer had its stock halted pending a placement of shares to some institutional and wholesale investors. The stocks have declined 14 percent in the past 12 months.

Advertisement
Advertise with NZME.

Michael Hill International stock was unchanged at 98 cents. Much of the stock is held by members of the Hill family, giving it a free float of $160.7 million, according to Reuters data.

The listed jewellery retailer increased first-half sales 8.7 percent and maintained its gross margin even as the US dollar strengthened.

VMob shares fell 1.9 percent to 51 cents today, valuing the company at $41.8 million, after it reached an eight-month high of 52 cents yesterday.

The mobile advertising firm is migrating to the main board of the NZX after its stock gained enough to lift its market capitalisation over the required $40 million mark.

VMob has surged 46 percent in the past two weeks and is now well above the 34 cents apiece investors paid in the most recent fund-raising round.

Save

    Share this article

Latest from Economy

Premium
Business

Venture capital market hot again, Icehouse Ventures boss says, as new fund feeds on golden visas

Premium
Tax

Tax break? Govt urged to make it cheaper for employers to provide health insurance

Interest rates

Lower interest rates, more money printing - RBNZ considers response to ageing population


Sponsored

Solar bat monitors uncover secrets of Auckland’s night sky

Advertisement
Advertise with NZME.

Latest from Economy

Premium
Premium
Venture capital market hot again, Icehouse Ventures boss says, as new fund feeds on golden visas
Business

Venture capital market hot again, Icehouse Ventures boss says, as new fund feeds on golden visas

A new seed fund raises half of its $30m target in a month.

15 Jul 05:00 PM
Premium
Premium
Tax break? Govt urged to make it cheaper for employers to provide health insurance
Tax

Tax break? Govt urged to make it cheaper for employers to provide health insurance

15 Jul 01:02 AM
Lower interest rates, more money printing - RBNZ considers response to ageing population
Interest rates

Lower interest rates, more money printing - RBNZ considers response to ageing population

14 Jul 10:00 PM


Solar bat monitors uncover secrets of Auckland’s night sky
Sponsored

Solar bat monitors uncover secrets of Auckland’s night sky

06 Jul 09:47 PM
NZ Herald
  • About NZ Herald
  • Meet the journalists
  • Newsletters
  • Classifieds
  • Help & support
  • Contact us
  • House rules
  • Privacy Policy
  • Terms of use
  • Competition terms & conditions
  • Our use of AI
Subscriber Services
  • NZ Herald e-editions
  • Daily puzzles & quizzes
  • Manage your digital subscription
  • Manage your print subscription
  • Subscribe to the NZ Herald newspaper
  • Subscribe to Herald Premium
  • Gift a subscription
  • Subscriber FAQs
  • Subscription terms & conditions
  • Promotions and subscriber benefits
NZME Network
  • The New Zealand Herald
  • The Northland Age
  • The Northern Advocate
  • Waikato Herald
  • Bay of Plenty Times
  • Rotorua Daily Post
  • Hawke's Bay Today
  • Whanganui Chronicle
  • Viva
  • NZ Listener
  • Newstalk ZB
  • BusinessDesk
  • OneRoof
  • Driven Car Guide
  • iHeart Radio
  • Restaurant Hub
NZME
  • About NZME
  • NZME careers
  • Advertise with NZME
  • Digital self-service advertising
  • Book your classified ad
  • Photo sales
  • NZME Events
  • © Copyright 2025 NZME Publishing Limited
TOP