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

NZ shares rise as investors catch up with Australian gains

By Dan Brunskill
BusinessDesk·
7 Feb, 2020 04:32 AM4 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

Kathmandu lead the market higher, rising 12.8 per cent to $3.44. Photo / Supplied

Kathmandu lead the market higher, rising 12.8 per cent to $3.44. Photo / Supplied

New Zealand shares rose today, as investors played catch up to the Australian market which rose sharply on Thursday while the local market was closed for Waitangi Day.

The S&P/NZX 50 Index rose 156.8 points, or 1.4 per cent, to 11,760.88. Within the index, 31 stocks rose, 17 fell and two were unchanged. Turnover was $219.8 million.

Overnight, global equities rebounded on the news that China's Ministry of Finance would halve additional tariffs levied against 1,717 US goods and following better-than-expected US corporate earnings results and data.

Despite no conclusive signs the tide has turned against coronavirus, global markets have taken on a bolder mood regarding risk.

Matthew Goodson, director of Salt Fund Management, said the local market was catching up to the Australian S&P/ASX 200 Index which closed up 1.1 per cent.

Advertisement
Advertise with NZME.
Advertisement
Advertise with NZME.

"We were closed yesterday during a strong up day, so this is a period of catch up," he said.

"Interestingly, the Australian market, having been very strong the last several days, is actually down half a percent, with people refocusing on coronavirus and the sharp rise in the number of passengers on the cruise ship anchored off Japan that have caught it."

This new wave of coronavirus anxiety had dampened markets across Asia, though hadn't filtered through to New Zealand which was effectively running a day behind the region.

Advertisement
Advertise with NZME.

In early trading, the S&P/ASX 200 was down 0.5 per cent, Hong Kong's Hang Seng was down 1 per cent and Shanghai's Composite Index was down 0.6 per cent.

Kathmandu lead the market higher, rising 12.8 per cent to $3.44 on an above average volume of 1.6 million shares, following an announcement that sales rose 1.5 per cent, although margins declined.

Goodson said investors had been selling the stock as there was some nervousness about how the brand had performed during Christmas trading, since rival brand Macpac had been affected by the Australian bushfires.

"Kathmandu seems to have delivered moderate same-store sales growth, albeit at the expense of a little bit of gross margin," he said.

Discover more

New Zealand

Coronavirus: Good news for evacuees

07 Feb 04:00 PM
Construction

Trapped for 115 days: 180 cars still under Convention Centre

12 Feb 10:32 PM

"So, a risk some investors have been fearing has been taken off the table."

Another stock with strong links to the Australian market, A2 Milk, rose 5 per cent to $15.36 on a volume of 823,000 shares.

Goodson said A2 milk, which is also listed on the ASX, saw big gains in Australia yesterday which was bringing the stock higher locally.

Fonterra Shareholders' Fund fell 1.3 per cent to $3.85 and Synlait Milk fell 1.5 per cent to $8.13.

Tourism stocks saw a bounce today, Auckland International Airport rose 2.9 per cent to $8.75 on an above average volume of 3.3 million shares, Air New Zealand rose 2 per cent to $2.80, SkyCity Entertainment Group rose 0.8 per cent to $3.62 on more than ten times its 90-day average volume trading almost 5 million shares, Tourism Holdings held at $3.

The airport scrambled late on Friday to respond to an urgent safety warning to airline pilots issued by their international representative body, claiming unplanned runway closures had been increasing. The airport said that it is undertaking a review.

Advertisement
Advertise with NZME.

Utilities were mostly strong today; Meridian Energy rose 3.2 per cent to $5.52, Mercury NZ rose 4 per cent to $5.30 and Contact Energy rose 0.4 per cent to $7.23.

Infratil fell 1.5 per cent to $5.45, letting go of some of Wednesday's gain from the announcement the company was investing in European green energy.

A stock tipped for growth in 2020, Pushpay Holdings, continued its upward trajectory rising 0.9 per cent to $4.54 on an above average volume of 1.1 million shares.

Another technology stock, Gentrack Group also rose, by 2.3 per cent to $2.19 on a volume of 975,000 shares.

Heartland Group posted the days biggest loss, falling 1.6 per cent to $1.85.

Salt's Goodson said earnings season starting next week could be difficult for the market as economic headwinds have been slowing corporate growth.

Advertisement
Advertise with NZME.

"Its not going to be the easiest of earnings seasons, given the economy has been relatively soft. It has been ultra-low rates and valuation multiple expansion rather than earnings that have been driving this market," he said.

Save

    Share this article

Latest from Business

Premium
Media Insider

Stop the presses: Stuff closing about 15 Auckland, regional community newspapers

04 Jul 07:56 AM
Premium
Media Insider

Ex-TV host Matt Chisholm's bold new career; 'Hugely unpopular' - battle royale brews inside Stuff

04 Jul 07:55 AM
Premium
Shares

Market close: Tourism Holdings drops as NZ sharemarket ends week on high

04 Jul 06:17 AM

Audi offers a sporty spin on city driving with the A3 Sportback and S3 Sportback

sponsored
Advertisement
Advertise with NZME.

Latest from Business

Premium
Stop the presses: Stuff closing about 15 Auckland, regional community newspapers

Stop the presses: Stuff closing about 15 Auckland, regional community newspapers

04 Jul 07:56 AM

Titles such as the North Shore Times and Central Leader have been published for decades.

Premium
Ex-TV host Matt Chisholm's bold new career; 'Hugely unpopular' - battle royale brews inside Stuff

Ex-TV host Matt Chisholm's bold new career; 'Hugely unpopular' - battle royale brews inside Stuff

04 Jul 07:55 AM
Premium
Market close: Tourism Holdings drops as NZ sharemarket ends week on high

Market close: Tourism Holdings drops as NZ sharemarket ends week on high

04 Jul 06:17 AM
Premium
Surge in new vehicle sales: Industry insiders explain three factors behind spike

Surge in new vehicle sales: Industry insiders explain three factors behind spike

04 Jul 05:00 AM
Gold demand soars amid global turmoil
sponsored

Gold demand soars amid global turmoil

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
  • Newstalk ZB
  • BusinessDesk
  • OneRoof
  • Driven Car Guide
  • 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