Sanford rounded off the day's underperformers, decreasing by 4.2 per cent - reversing some of the gains made in previous sessions.
Casino operator SkyCity Entertainment Group also underperformed after a soft investor day presentation from its Australian counterpart, Crown. SkyCity stock declined 3.2 per cent.
On the other hand, the best performer of the NZX 50 on Tuesday was Sky Network Television, increasing 4 per cent. The sports and entertainment services provider has seen big percentage swings since its positive earnings guidance upgrade last week.
Next in line was Vital Healthcare Property Trust, rising 2.1 per cent. The health sector property investor continued its upward trend, which kicked off at the start of December.
Auckland International Airport rounded out the leader board, up 1.7 per cent, one day ahead of Auckland's border restrictions being loosened.
Aucklanders that can produce a negative test or proof of double vaccination will be allowed to leave Auckland from today. Although international travel currently remains restricted, traffic through Auckland Airport is likely to pick up due to domestic travellers.
International Markets:US:
US equities were down for a second day with the S&P 500, Dow Jones Industrial Average, and the Nasdaq falling 1.2, 0.5, and 1.8 per cent, respectively. The November read for the US PPI (Producer Price Index) showed a year-on-year price increase of 9.6 per cent, not only the fastest pace on record but also above economist expectations of 9.2 per cent.
Financials and energy were the only sectors to rise, up 0.3 and 0.1 per cent, respectively.
Healthcare company Centene Corp gained 3.8 per cent to a new 52-week high. The CEO announced that he is retiring next year after 21 years.
Charter Communications rose 3.2 per cent. The broadband connectivity company rose following an announcement of its deal with Comcast's NBCUniversal to provide access to Peacock Premium for free to subscribers.
Exerting downwards pressure on the S&P 500 was technology and real estate, falling 2.4 and 1.8 per cent, respectively.
Adobe declined 7.6 per cent. It appears the company did not impress the market after unveiling its first comprehensive package of design software for non-professional purposes, such as Instagram and Facebook stories.
Cyber security company Fortinet lost 6.5 per cent.
Rest of the World Markets:
Asian indices were in the red overnight with the Hang Seng trading lower by 1.3 per cent, the Shanghai Composite down 0.5 per cent, and the Nikkei down 0.7 per cent.
Commodities:
In commodities this morning, gold has fallen 0.8 per cent to US$1,774.40 per ounce. WTI crude oil fell 2.2 per cent, now priced at US$69.74 per barrel as Omicron concerns continue to dominate with the potential to dent global demand recovery.
The US 10-year is now trading at 1.44 per cent as the market continues to await the Federal Reserve's December policy meeting.
In cryptocurrencies, Bitcoin rose 0.9 per cent to US$47,064.80 and Ethereum gained 1.3 per cent to US$3,796.63. Both making partial recoveries from yesterday's dips.
Australian Markets:
Australian equities closed flat following Tuesday's trading session as the market remained unchanged, finishing at 7,378.4 points.
Macroeconomic data included Commonwealth Bank's weekly credit card spend, which showed slowing momentum throughout the second week of December.
This can likely be attributed to a bumper November and December start which included Black Friday sales, with overall spend averaging 25 per cent above 2019 levels.
Furthermore, National Australia Bank (NAB) business confidence also saw an easing, as the index moved from +20 in October to +12 in November. This is still well above the long run average.
Leading sectors included real estate and technology, each making gains of 1 per cent and 0.8 per cent, respectively.
The single stock winners were led by healthcare company Polynovo, which jumped 15.4 per cent on the back of strong US sales data. Its second quarter sales saw a 133 per cent increase year-on-year to A$4.66m.
Blackmores Group, also a healthcare company, joined Polynovo with its own 6.7 per cent gain.
Property investment company Charter Hall continued its stellar run to finish in third place – up another 5.3 per cent following its 5.6 per cent rally on Monday after the company upgraded its guidance.
Consumer cyclicals and energy were the laggard sectors of the day, falling 3.7 and 1 per cent.
Healthcare and medical device company Mesoblast dropped 17.4 per cent with the news that biotech giant Novartis had terminated its contract with the company regarding the use of one of its products, the Remestemcel-L, after Covid-19 complications.
Supermarket staple Woolworths also had a rough session, down 7.7 per cent amidst updated earnings guidance, citing supply chain issues as a reason for increasing costs.
Lastly, Whitehaven coal lost 4.1 per cent to round off the underperformers of Tuesday.
In M&A news, Australian large cap biotech company CSL has bid in excess of A$16.4 billion for Swiss pharmaceutical company Vifor Pharma Group.
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Disclaimer: The Jarden Brief is provided for general information purposes only. It reflects views and research available at the time of publication, using external sources, systems and other data and information we believe to be accurate, complete and reliable at the time of preparation. We make no representation or warranty as to the accuracy, correctness and completeness of that information, and will not be liable or responsible for any error or omission. The Jarden Brief is not to be relied upon as a basis for making any investment decision. Please seek specific investment advice before making any investment decision. Jarden Securities Limited is an NZX Firm. A financial advice disclosure statement is available free of charge at https://www.jarden.co.nz/our-services/wealth-management/financial-advice-provider-disclosure-statement/ Full disclaimer available at: https://www.jarden.co.nz/wealth-sales-and-research-disclaimer
