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 / Markets

Jarden Brief: GameStop jumps on stock split, US energy companies resurgent

NZ Herald
7 Jul, 2022 08:01 PM6 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.

Video game retailer GameStop, famous for a 2021 short squeeze co-ordinated on Reddit, jumped 14 per cent overnight. Photo / 123RF

Video game retailer GameStop, famous for a 2021 short squeeze co-ordinated on Reddit, jumped 14 per cent overnight. Photo / 123RF

Keeping you up to date with the latest market moves, in association with Investment firm Jarden

International
US

All the major US indices were in the green at the time of writing. The S&P 500 lifted 1.4 per cent, Nasdaq climbed 2.3 per cent and the Dow Jones Industrial Average inclined 0.9 per cent.

All sectors except two were all up. The top gainers were energy (+3.8 per cent), consumer discretionary (+2.4 per cent) and technology (+1.9 per cent). The underperformers were consumer staples (-0.3 per cent) and real estate (-0.1 per cent).

Advertisement
Advertise with NZME.

Outperformers were led by power solutions company ON Semiconductor Corp, rising 9.4 per cent.

Energy companies made a return in the gainers, with APA Corp gaining 8.3 per cent. Other energy companies with gains included Enphase Energy (+6.3 per cent), Diamondback Energy (+5.8 per cent) and Marathon Oil Corp (+6.2 per cent).

At the time of writing, Moderna was up 7.6 per cent. Conversely, Colgate-Palmolive declined 2.8 per cent.

Holding company Charter Communications fell 2.6 per cent and professional services company Aon dropped 2.5 per cent.

Advertisement
Advertise with NZME.

GameStop jumped 14.0 per cent following an announcement of the board approving a 4-for-1 stock split. At market close on 18 July, shareholders who own stock in the company will receive a dividend of three additional shares for each stock owned, to be distributed 21 July. Trading will be adjusted for the split the following trading day.

The US Census Bureau and the US Bureau of Economic Analysis released the May 2022 International Trade in Goods and Services report. The goods and services deficit decreased US$1.1 billion to US$85.5 billion in May. Exports increased to US$255.9 billion, and imports grew to US$341.4 billion.

In the Federal Open Market Committee minutes released in the US on Thursday, officials revealed their desire to continue increasing rates until inflation slows down, even at the risk of slowing down the economy.

Rest of the World

Asian markets rose overnight. The Shanghai Composite was up 0.3 per cent, the Nikkei improved 1.5 per cent and the Hang Seng lifted 0.3 per cent.

Beijing has increased Covid-19 restrictions following the re-emergence of cases in parts of China this week, including Beijing and Shanghai. Restrictions include vaccine requirements for entry into many venues.

European markets also closed higher. The FTSE gained 1.1 per cent, the DAX climbed 2.0 per cent and the CAC rose 1.6 per cent.

The Swiss National Bank delivered a rate hike for the first time in 15 years on Thursday, following many other countries in efforts to tighten monetary policy and avoid recent inflation.

Advertisement
Advertise with NZME.

Commodities

Gold traded 0.1 per cent higher at US$1,739 per ounce, while silver rose a slim 0.1 per cent to US$19.18 per ounce.

WTI Crude Oil gained back 4.7 per cent to US$103.18 per barrel, back over $100 for the first time this week.

Bitcoin rose 3.3 per cent and Ethereum inclined 6.3 per cent.

The US 10-Year Treasury rate increased nine basis points to 3.004 per cent alongside an eight-point incline in the 30-Year rate, to 3.195 per cent.

New Zealand

The NZX 50 closed for the first time this week with a 0.3 per cent decline. The main detractors came from industrials and utilities, which were down 0.7 and 0.4 per cent respectively.

Eroad continued to lead the index with a further 13.0 per cent jump in its share price. This brings the stock over 40 per cent up this week.

Following Wednesday's 5.6 per cent increase, travel management and expense technology company Serko climbed 3.0 per cent, bringing it 9.7 per cent up over the past week.

Many Real Estate Investment Trusts (REITs) also closed in the green, with Investore Property, Stride Property and Kiwi Property up 2.5, 2.4 and 1.5 per cent respectively.

Overall, the real estate sector was up 0.6 per cent.

On the other hand, Auckland International Airport experienced the biggest losses with a 2.4 per cent decline it its share price.

Contact Energy and Meridian Energy both closed in the red, down 1.8 and 1.5 per cent respectively.

Air New Zealand has released that it is trying to hire a further 1,100 staff to avoid potential travel chaos. The share price closed 0.8 per cent down.

Australia

The ASX 200 closed at 6,648.0 points yesterday, up 0.8 per cent.

Materials led sector growth with a 2.5 per cent increase. The consumer discretionary and financial sectors followed with gains of 1.3 and 0.9 per cent, respectively.

Industrials fell 0.8 per cent, followed by information technology (-0.5 per cent) and telecommunications services (-0.3 per cent).

Biotechnology company Imugene led single stocks with a 9.1 per cent lift.

Pinnacle Investment Management Group gained 7.6 per cent. The investment firm announced that 10 of its affiliates crystallised performance fees for the year ended 30 June 2022, equating to roughly A$57.1 million.

Of this sum, A$38.3 million crystallised during the second half of the 2022 financial year (FY22). Pinnacle estimates a net return on principal investments of approximately A$0.1 million for FY22.

Chalice Mining's share price was up 6.7 per cent. The miner announced the intersection of a new nickel-copper-platinum group element (PGE) sulphide zone at the Dampier Target, located at Chalice's Julimar Project in Western Australia.

Given the positive result, Chalice said it had prioritised nearby targets for immediate drilling.

Payment technology provider EML Payments dropped 9.9 per cent. Miner Lynas Rare Earths slipped 6.2 per cent and bookmaker Pointsbet Holdings fell 6.0 per cent.

Australia's trade surplus expanded to A$16 billion in May, an increase of A$2.7 billion for the month. Exports grew 9.5 per cent on the back of gains in coal, coke, & briquette exports, along with other mineral fuels.

Imports climbed 5.8 per cent, driven by increases in fuel and lubricant and non-industrial transport equipment imports.

In the month to 11 June, payroll jobs rose 0.1 per cent according to the Australian Bureau of Statistics. This compared to a 0.4 per cent fall for the same period in 2021, which was recorded during a lockdown in the Australian state of Victoria.

• For more information on the latest market moves, get in touch with Jarden.

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

Save

    Share this article

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

Latest from Markets

Premium
Shares

Market close: SkyCity loses spot on the 20

10 Jun 05:56 AM
Premium
TechnologyUpdated

Tech Insider: A $529 phone, bought in March, can only make 3G calls; IRD’s AI warning; Musk’s pain is Beck’s gain; a self-employed Wellington man scores a $16K Google Cloud refund

10 Jun 03:14 AM
Premium
Shares

Market close: Index reshuffle lifts Briscoe Group

09 Jun 05:57 AM

Why Cambridge is the new home of future-focused design

sponsored
Advertisement
Advertise with NZME.

Latest from Markets

Premium
Market close: SkyCity loses spot on the 20

Market close: SkyCity loses spot on the 20

10 Jun 05:56 AM

Scales Corporation shares are up after it upgraded guidance.

Premium
Tech Insider: A $529 phone, bought in March, can only make 3G calls; IRD’s AI warning; Musk’s pain is Beck’s gain; a self-employed Wellington man scores a $16K Google Cloud refund

Tech Insider: A $529 phone, bought in March, can only make 3G calls; IRD’s AI warning; Musk’s pain is Beck’s gain; a self-employed Wellington man scores a $16K Google Cloud refund

10 Jun 03:14 AM
Premium
Market close: Index reshuffle lifts Briscoe Group

Market close: Index reshuffle lifts Briscoe Group

09 Jun 05:57 AM
Premium
NZ's power system well-placed for winter - analyst

NZ's power system well-placed for winter - analyst

08 Jun 11:00 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