NZ shares edge up ahead of earnings season

NEW Zealand shares edged up in relatively light trading as investors looked ahead to the earnings season.

The NZX 50 Index rose 3.287 points, or 0.1 per cent, to 4560.054. Within the index, 27 stocks rose, 16 fell and seven were unchanged. Turnover was worth $120 million.

Ebos rose 2.9 per cent to a record close of $9.99. The medical and pet supplies distributor's stock is up 34 per cent this year and the gains accelerated after it agreed to buy Australia's Symbion and raised capital to do so.

"Ebos has changed vastly with that deal," said David Price, a broker at Forsyth Barr. "The capital raising has been well received."

Ryman, the nation's biggest listed retirement village operator, rose 1.9 per cent to $6.98, also a record close. Rival Summerset Group gained 0.7 per cent to $3.02.

The biggest companies on the bourse fell. Telecom dropped 3 per cent to $2.25 and Fletcher Building fell 1.3 per cent to $8.55.

Mr Price said they were among stocks driven higher on Wednesday by buying at the close and had since given back those gains.

"It is relatively quiet leading into the results season," he said. "The market is trading on relatively high multiples so companies need to deliver on expectations."

The Warehouse Group, the biggest listed retailer, was unchanged at $3.75, clothing chain Hallenstein Glasson was down 0.6 per cent to $4.94 and outdoor equipment group Kathmandu fell 0.8 per cent to $2.58. Pumpkin Patch gained 1.2 per cent to 82 cents.

Manufacturers gained after BNZ-BusinessNZ figures showed the sector's activity continued to grow last month, albeit at a slower pace from May when it reached a nine-year high.

Skellerup gained 1.5 per cent to $1.32, Nuplex Industries advanced 1 per cent to $3.09, Moa Group rose 1.7 per cent to $1.18 and Goodman Fielder climbed 1.2 per cent to 85 cents.

Anda sedang membaca artikel tentang

NZ shares edge up ahead of earnings season

Dengan url

http://laptoptua.blogspot.com/2013/07/nz-shares-edge-up-ahead-of-earnings.html

Anda boleh menyebar luaskannya atau mengcopy paste-nya

NZ shares edge up ahead of earnings season

namun jangan lupa untuk meletakkan link

NZ shares edge up ahead of earnings season

sebagai sumbernya