Bed Bath & Beyond dropped 24.2 per cent after the company once again warned it may need to file for bankruptcy as it proposed a US$300 million stock offering.
EV charging network EVgo rose 23.5 per cent after a fourth-quarter revenue release and the highlighting of strong year on year growth in network.
Mobile computing firm Zebra Technologies was up 2.9 per cent at the time of writing after Zebra Technologies announced a change in leadership.
Rest of the World
H&M shares climbed more than 16 per cent after the company reported first-quarter profit.
Commodities
Brent Oil is currently trading 1.2 per cent higher at US$79.20 a barrel, following a US crude drawdown, while gold is trading up 0.8 per cent to US$1,979.10 per ounce.
The US 10-year Treasury bond eased off one basis point to 3.57 per cent.
Bitcoin declined 0.9 per cent to US$28,139.00.
New Zealand
The NZX 50 rose 1.7 per cent yesterday.
With rising interest rates dampening house prices, the number of new residential building consents declined 29 per cent from a year ago to the lowest level since February 2018, and down 9.5 per cent on pre-pandemic levels. Fletcher Building rose 4.4 per cent yesterday.
Business confidence was unchanged in February from January. A significant 86 per cent of businesses expect further cost increases over the year ahead. ANZ Consumer Confidence is set to be released today which will provide insight into consumer views on the current macroeconomic environment.
Continuing the trend of data centre expansion in New Zealand, Microsoft has received OIO approval to purchase 6.5ha of land at an undisclosed location to construct a ~$180m data centre, to be staffed by 50 full-time employees.
Australia
The ASX 200 traded up 1.0 per cent on Thursday.
Mincor Resources delivered an operations update which included withdrawing financial year 2023 production guidance following an elevated arsenic to nickel ratio in the ore blend being delivered to BHP.
This week, BHP refused Mincor’s request to alter the supply contract in a way that would have given Mincor more flexibility around product quality standards. Mincor Resources declined 5.7 per cent yesterday.
Gaming company Aristocrat Leisure announced Electronic Arts will lay off ~6% of workforce. Share price rose 0.9 per cent yesterday.
Healthco Healthcare and Wellness announced the acquisition of a A$1.2bn, 11-asset private hospital portfolio from Medical Properties Trust and operated by Healthscope.
Telstra shares hit A$4.24 yesterday, their highest level since July 2017.
Coming up today
US: Core Personal Consumption Expenditure (the Fed’s preferred inflation gauge); Chicago Purchasing Managers’ Index (PMI) which determines the economic health of manufacturing in and around Chicago.
Eurozone: CPI, Unemployment Rate.
UK: Q4 GDP.
China: China Composite Purchasing Managers’ Index.
Australia: Private Sector Credit: AMP AGM.
NZ: ANZ Consumer Confidence.
For more information on the latest market moves, get in touch with Jarden.
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