Sky Network Television was the best performer of the session, jumping 17.7 per cent. The sport and entertainment media services provider published a significantly improved earnings guidance to the market yesterday.
After undertaking a rigorous cost review the company is forecasting EBITDA of $150-$160 million (vs $115 -$130 million previously) and NPAT of $40-$48 million (vs $17.5-27.5 million previously) for its financial year 2022. Sky is aiming to save $35 million in FY22 including $9m of one-off savings.
Next in line was casino operator Skycity Entertainment Group, rallying 3.3 per cent, closely followed by Air New Zealand, up 3 per cent.
The airline released its 2021 Sustainability Report yesterday, outlining four priorities. These include: "Caring for New Zealanders", "Genuine climate action", "Driving towards a circular economy", and "Sustainable tourism".
For the bottom movers, Ryman Healthcare was the underperformer of the day, dropping 2.7 per cent. Napier Port Holdings also closed in the red, decreasing 1.6 per cent.
Rounding out the session's underperformers was church donation platform Pushpay Holdings, down 1.5 per cent.
International
US
US equities rallied for a second day with the S&P 500, Nasdaq, and Dow Jones Industrial Average trading higher by 2.1, 3, and 1.5 per cent each, at the time of writing. The market appears to be looking past the potential of Omicron as a handbrake to economic activity.
All sectors rose again, with technology making a strong recovery, up 3.4 per cent, and energy rising 2.9 per cent.
Fortinet rose 8.5 per cent. The cyber security solutions company made a partial recovery following last week's sell-off.
Autozone gained 7.4 per cent to a new 52-week high. It reported quarterly profit of US$25.69 per share, beating consensus estimates by more than 20 per cent. Revenue rose 13.6 per cent.
Qorvo rose 6.9 per cent. The company provides technology and radio frequency for mobile, defence and aerospace applications.
On the flip side, media and technology company Comcast declined 5.6 per cent and Charter Communications fell 4.6 per cent, the latter is a broadband connectivity company. Both appear to be stocks that may benefit from people working from home. Western Union Co lost 3.2 per cent.
Rest of the world
Asian indices were up overnight as Wall Street rallied on Omicron optimism. The Hang Seng traded higher by 2.7 per cent, the Shanghai Composite gained a slim 0.2 per cent, and the Nikkei rose 1.9 per cent.
Commodities
In commodities this morning, gold rose 0.4 per cent to US$1,786.90 per ounce. WTI crude oil also strengthened, now priced 4.6 per cent higher, and above US$70, at US$72.70 per barrel.
The US 10-year is now seven basis points higher at 1.45 per cent.
In cryptocurrencies, Bitcoin and Ethereum are trading strongly, up 4.4 and 2.5 per cent, respectively priced US$51,211 and US$4,320, at the time of writing.
Australia
Australian equities traded higher at Tuesday's close with the S&P/ASX 200 finishing the day at 7,313.9 points, up 0.9 per cent.
Markets traded with Tuesday's Reserve Bank of Australia (RBA) meeting, where Governor Phillip Lowe decided to maintain the current cash rate at 10 basis points, also holding quantitative easing measures at A$4 billion a week. Both no-change decisions were in line with expectations.
Outperforming sectors included educational services and energy, which made gains of 4.9 and 2 per cent respectively.
Sector growth was buoyed by impressive performances from both online betting company Pointsbet Holdings and payment services provider Zip Co - both finishing the day up 9.9 per cent.
News included Zip Co releasing transaction volume for the month of November, showing a 52 per cent increase from the previous month at over A$900 million. Zip reports its half-year earnings on the 23 February 2022.
In contrast, downward pressure on indices was drawn from Tuesday's only sector loss from utilities, down 0.2 per cent.
The day's underperforming stocks were led by Magellan Financial Group (-6.4 per cent), as the company announced it had appointed interim CEO Kirsten Morton in the wake of the resignation of their previous CEO. Furthermore, the company released funds under management totals for the month end November, at A$116 million.
Lastly, mining companies Nickel Mines and Lynas Rare Earths fell 4.3 and 3.2 per cent with weaker underlying metals prices.
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