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 / Companies

Market close: T&G Global, Contact Energy stand-outs as NZX rises

By Graham Skellern
NZ Herald·
6 Aug, 2020 05:35 AM3 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

    Reminder, this is a Premium article and requires a subscription to read.

T&G Global climbed 20c or 7.69 per cent to $2.80. Photo / 123RF

T&G Global climbed 20c or 7.69 per cent to $2.80. Photo / 123RF

The local sharemarket, now just 300 points off its high recorded on February 21, has taken a breather as it awaits a probable mixed earnings season.

Trading was flat as the S&P/NZX 50 Index settled at 11,764.59 points, up 6.87 points or 0.6 per cent. The index reached 12,073.34 points in February.

A total of 62.21 million shares worth $166.09 million were traded today, and there were 95 gainers and 46 decliners over the whole market of 182 stocks. The standouts were T&G Global and Contact Energy.

Jeremy Sullivan, investment adviser with Hamilton Hindin Green, said there's no clear direction in the market and everyone is eagerly awaiting the earnings results over the next couple of weeks.

Advertisement
Advertise with NZME.

He said the market has continuous disclosure and companies normally announce beforehand if they are more than 10 per cent out from their guidance. But many of them have removed guidance because of the uncertainty caused by the Covid pandemic.

"There will be more surprises and volatility in the earnings season than prior ones. Some companies will be winners and others losers as a result of Covid-19," Sullivan said.

T&G Global (formerly called Turners and Growers) announced a positive result early and climbed 20c or 7.69 per cent to $2.80. T&G, now concentrating on moving premium fresh produce, tripled its operating profit to $19.5m on increased revenue of $671.3m for the first six months of this year. This compared with profit of $6.2m for the same period last year

The company said "our decision to charter a ship early in the season to move apples to Europe and the United Kingdom meant we got ahead of any potential logistical challenges and could support our customers in maximising retail sales."

Advertisement
Advertise with NZME.

The day's other big gainers were Metro Performance Glass increasing 1.5c to 22c; ikeGPS Group up 5c to 92c; Sky Network Television up 0.8c to 13.8c; and Hallenstein Glasson rising 18c to $3.37. But the stocks moved on very low trading.

For instance, Metro – which announced its Melbourne-based Australian Glass Group was still operating in the lockdown – increased 7.32 per cent on 46 trades worth $30,772. Hallenstein, no doubt spurred on by the latest Paymark figures which saw retail spending increase 11.4 per cent in July compared with the same month last year, had 110 trades worth $134,061.

Contact led the energy stocks, rising 33c or 5.54 per cent to $6.29 with nearly $8.2m worth of shares changing hands, while Meridian was up 13c to $5 on $7m worth of trading. Vector was up 6c to $3.90, Trustpower increased 3c to $6.83, and Mercury and Genesis fell slightly.

Offshore, Wall Street had another good day, but gold is having the time of its life. It stayed in the US$2000 an oz zone for the second day running, having risen from $1477 an oz on March 18. At 5.30pm today gold was trading at $2047.55 an oz. Silver was also up at $27.49 an oz, having more than doubled from March 18 when it traded at $11.74 an oz.

The Dow Jones Industrial Index rose 373 points or 1.39 per cent to 27,201.52 as optimism around passing a bipartisan second Covid stimulus package outweighed bleak jobs data. According to the latest ADP report, United States added 167,000 private payrolls in July, well below the 1.2m estimate from economists. There was a 4.3m increase in June.

Save

    Share this article

    Reminder, this is a Premium article and requires a subscription to read.

Latest from Companies

Premium
KiwiSaver

'Opening a can of worms': Govt considers allowing KiwiSaver withdrawals for farms

10 Jun 05:00 PM
Premium
Technology

Tech Insider: $529 phone, bought in March, can only make 3G calls; IRD's AI warning; $16K Google Cloud refund

10 Jun 03:14 AM
Agribusiness

ASB offers $150,000 interest-free loans for farm solar systems

09 Jun 11:51 PM

Why Cambridge is the new home of future-focused design

sponsored
Advertisement
Advertise with NZME.

Latest from Companies

Premium
'Opening a can of worms': Govt considers allowing KiwiSaver withdrawals for farms

'Opening a can of worms': Govt considers allowing KiwiSaver withdrawals for farms

10 Jun 05:00 PM

Finance Minister Nicola Willis is seeking advice from Inland Revenue.

Premium
Tech Insider: $529 phone, bought in March, can only make 3G calls; IRD's AI warning; $16K Google Cloud refund

Tech Insider: $529 phone, bought in March, can only make 3G calls; IRD's AI warning; $16K Google Cloud refund

10 Jun 03:14 AM
ASB offers $150,000 interest-free loans for farm solar systems

ASB offers $150,000 interest-free loans for farm solar systems

09 Jun 11:51 PM
Premium
Fletcher begins marathon court case against subbies over SkyCity convention centre fire

Fletcher begins marathon court case against subbies over SkyCity convention centre fire

09 Jun 10:33 PM
Clean water fuelling Pacific futures
sponsored

Clean water fuelling Pacific futures

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
  • What the Actual
  • Newstalk ZB
  • BusinessDesk
  • OneRoof
  • Driven CarGuide
  • 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