Vital Healthcare Property Trust, up 1c to $1.89 on trade worth $32.09m, is being added to the FTSE EPRA Nareit Global Real Estate Index. Heartland Group, gaining 1.5c to $1.235 on trade worth $35.41m, is joining the FTSE Small Cap Index in place of Air New Zealand.
The national airline is flying at all-time lows after declining 0.005c to 43c. “Clearly Air New Zealand is going to be in a stress situation if this Middle East conflict continues,” said Goodson.
Oil price slips
Brent Crude oil was down 1.36% to US$107.2 a barrel, while the gold price has fallen from US$5000 an ounce to $4698 in three days.
Goodson said the tone of the markets were “less bad” with a reasonable intraday turnaround in the United States after oil came off its high. “But things are still not great with massive stagflation out there.”
On Wall Street, Dow Jones Industrial Average was down 0.44% to 46,021.43; S&P 500 decreased 0.27% to 6606.49; and Nasdaq Composite eased 0.28% to 22,090.69.
The European Central Bank, Banks of England and of Japan all held their cash rates steady like the US Federal Reserve the day before, but signalled they may be more aggressive if the conflict keeps energy prices elevated.
Local stocks
At home, market leader Fisher & Paykel Healthcare continued to fall, down 82c or 2.2% to $36.41 on trade worth $67.39m after reaching $41.23 on March 2.
Auckland International Airport was up 7c to $8.20 on trade worth $79.11m, the highest of the day.
Spark was down 6c or 2.78% to $2.10, its lowest level for nearly 11 months; Vulcan Steel declined 39c or 5.28% to $7; and Precinct Properties decreased 5c or 4.5% to $1.06.
Sky TV was down 8c or 2.46% to $3.17; Oceania Healthcare shed 3.5c or 4.52% to 74c; Winton Land decreased 6c or 3.06% to $1.90; and Hallenstein Glasson declined 34c or 3.54% to $9.26.
Chorus was up 24c or 2.25% to $9.66; Gentrack increased 33c or 4.63% to $7.45; a2 Milk gained 10c to $11.42; ANZ added $1.12 or 2.5% to $45.95; and Eroad collected 4c or 4.94% to 85c.
Genesis Energy went into a trading halt while it completed a small shortfall bookbuild on its rights offer which initially raised $242.7m from 80.9% of eligible shareholders including the Crown, maintaining its 51% shareholding. Genesis last traded at $2.22.
Santana Minerals, up 1.5c to 95.5c, has completed its share purchase plan at 90c a share and raised A$1.4m (NZ$4.93m) with 860 of 4200 eligible shareholders participating. This follows the placement of A$130m ($156.56m).
Asset Plus, down 0.004c or 2.09% to 18.7c, told the market that the valuation for the Albany Munroe Lane building was $105.5m at the end of March, down from $107m, but added to this was capital expenditure and leasing costs and the fair value of the building is expected to be reduced by $7.1m.
This represents a forecast 1.9c a share reduction in the net tangible assets to 30.5c at the end of March, Asset said.
Rakon, up 0.005c to $1.495, told the market it expected to deliver full-year operating earnings (ebitda) in the lower half of its $15m-$24m guidance. Bourns, which has made a takeover offer at $1.55 a share now has more than 72% of Rakon shares.
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