{"id":52706,"date":"2025-08-08T10:56:10","date_gmt":"2025-08-08T10:56:10","guid":{"rendered":"https:\/\/www.newsbeep.com\/au\/52706\/"},"modified":"2025-08-08T10:56:10","modified_gmt":"2025-08-08T10:56:10","slug":"late-selling-drives-nz-sharemarket-down-market-close","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/au\/52706\/","title":{"rendered":"Late selling drives NZ sharemarket down \u2013 Market close"},"content":{"rendered":"

\u201cIt\u2019s been a good week and the markets seem to be taking the US tariffs in their stride as we head into the reporting season next week,\u201d he said.<\/p>\n

\u201cWe are confident that we\u2019ll see an Official Cash Rate cut from the Reserve Bank [on August 20], which I think will be good for the market and the economy overall.<\/p>\n

\u201cWe\u2019ve managed to get through this week without any profit warnings, so that\u2019s good,\u201d Lister said.<\/p>\n

AdvertisementAdvertise with NZME.<\/a><\/p>\n

Spark firmed 4c or 1.6% to $2.59 after a difficult period.<\/p>\n

Lister said the telco appeared to be enjoying the beginnings of a recovery after two years in the investment wilderness.<\/p>\n

\u201cIt\u2019s still got a long way to go, but I think there is a general feeling among the analyst community that there might be a little bit of value there because it\u2019s fallen as much as it has,\u201d he said.<\/p>\n

Also firming were KMD Brands, up 1c at 25c, and Sky TV, up 6c at $3.02.<\/p>\n

Infratil dropped by 18c or 1.59% to $11.84.<\/p>\n

The infrastructure investor earlier announced that it and the NZ Superannuation Fund had entered a binding agreement to sell their 100% interest in RetireAustralia to Invesco Real Estate, for A$845m ($925m).<\/p>\n

As of March 31, the carrying value of Infratil\u2019s investment in RetireAustralia was $404m, with the transaction expected to result in an accounting loss on sale of about $80m, the company said.<\/p>\n

Market heavyweight Fisher & Paykel Healthcare, which has a 16% weighting on the S&P\/NZX50 index, fell 31c to $36.69.<\/p>\n

AdvertisementAdvertise with NZME.<\/a><\/p>\n

Retirement village operator Summerset dropped by 25c (2.25%) to $11.08.<\/p>\n

Transport software specialist Eroad took back some of Thursday\u2019s gains, which were on the back of New Zealand\u2019s plan to introduce universal road user charges, the stock dropping 6c to $1.95.<\/p>\n

In the second-tier stocks, major apple exporter T&G Global rallied by 15c (6.7%) to $2.40 after posting a turnaround in its first half to a $1.7m profit from a loss of $18.76m in the previous comparable period.<\/p>\n

\u201cAs we head into the second half of the year, T&G is in a strong position to build on this momentum,\u201d the company said.<\/p>\n

\u201cWe\u2019re confident in our ability to continue delivering improved financial performance.\u201d<\/p>\n

T&G\u2019s majority owner, Germany\u2019s BayWa, has put its stake up for review.<\/p>\n

BayWa, which has interests ranging from food to construction and energy, first made its play in 2011 for what was then Turners and Growers, with the intention of a complete takeover.<\/p>\n

T&G\u2019s shares have gained 53% in the last 12 months.<\/p>\n

With a 15% tariff on New Zealand exports to the US now in place, ASB Bank expects beef, dairy and wine exports to be the most heavily affected.<\/p>\n

\u201cWe think beef is currently under the most risk, but there are opportunities to mitigate the hit,\u201d the bank said.<\/p>\n

Jamie Gray is an Auckland-based journalist, covering the financial markets and the primary sector. He joined the Herald in 2011.<\/p>\n","protected":false},"excerpt":{"rendered":"\u201cIt\u2019s been a good week and the markets seem to be taking the US tariffs in their stride…\n","protected":false},"author":2,"featured_media":52707,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[9490,64,63,5975,99,15452,38019,44062,27452,21570,13057,28332,23445,4694,171,1697,44063,25806,20611,9355,4208,44064,44065,3205],"class_list":["post-52706","post","type-post","status-publish","format-standard","has-post-thumbnail","category-markets","tag-after","tag-au","tag-australia","tag-bout","tag-business","tag-close","tag-down","tag-drives","tag-earlier","tag-ended","tag-first","tag-gains","tag-late","tag-market","tag-markets","tag-nz","tag-regime","tag-selling","tag-sharemarket","tag-tariff","tag-under","tag-weaker","tag-wiped","tag-zealand"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/52706","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=52706"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/52706\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/52707"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=52706"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=52706"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=52706"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}