In the United States, the S&P 500 Index went above 6800 points for the first time after gaining 1.23% to 6875.16, its 34th record close this year. The Dow Jones Industrial Average was up 0.71% to 47,544.59 points, and Nasdaq Composite rose 1.86% to 23,637.46 on the back of the big tech stocks.<\/p>\n
Investors this week are eagerly awaiting an interest rate cut by the Federal Reserve; latest quarterly earnings from Microsoft, Alphabet (Google), Meta (Facebook), Apple, Amazon; and a potential trade deal from a long-awaited meeting between the US and Chinese presidents Donald Trump and Xi Jinping.<\/p>\n
Aussie slips<\/p>\n
All the action was across the Tasman where the S&P\/ASX 200 Index had fallen 0.39% to 9020.7 points at 6pm NZ time.<\/p>\n
Global pharmaceutical company CSL was down 15% to A$179.62 (NZ$203.87), a six-year low, after downgrading its revenue and profit growth forecasts amid falling US vaccination rates. CSL shares are down more than 36% in the past 12 months, having traded above $300 in October last year.<\/p>\n
Heavyweight WiseTech Global had declined 15.4% to A$71.90 ($81.61) after its Sydney head office was raided by Australian Federal Police and Australian Securities and Investments Commission.<\/p>\n
The investigation centres on alleged insider trading by founder Richard White and three employees, although no charges have been laid and the company insisted it is co-operating fully.<\/p>\n
Gentrack on track<\/p>\n
Back home, Gentrack increased 39c or 4.37% to $9.32; a2 Milk gained 13c to $10.50; Turners Automotive added 14c or 1.93% to $7.40; SkyCity Entertainment Group was up 1.5c or 2.1% to 73c; and Livestock Improvement Corp rose 9c or 9.18% to $1.07.<\/p>\n
Market leader Fisher & Paykel Healthcare looked like going under $35 after reaching an intraday low of $35.12 but made a strong turnaround to close at $35.95, up 5c on trade worth $27.29m.<\/p>\n
The dual-listed banking groups had a strong day, with ANZ increasing $1.24 or 3% to $42.55, and Westpac adding $1.19 or 2.72% to $45.<\/p>\n
Fletcher Building decreased 7c or 2.17% to $3.15; Mainfreight declined 81c to a six-month low of $59.29; Summerset Group eased 16c to $11.74; and Foley Wines down 4c or 6.35% to 59c.<\/p>\n
Being AI fell 2.3c or 16.34% to 11.8c after reaching 20c on October 22; and NZ King Salmon Investments was down 0.08c or 3.9% to 19.7c.<\/p>\n
Minerals lose shine<\/p>\n
The listed mineral explorers were impacted by the sudden fall in the gold price, which was trading at US$3988 an ounce after reaching a high of $4362 a week ago.<\/p>\n
Santana Minerals fell 8c or 8.65% to 84.5c; Uvre declined 2.5c or 9.09% to 25c; Manuka Resources was down 1.4c or 18.18% to 6.3; and New Talisman Gold Mines decreased 0.003c or 5.36% to 5.3c.<\/p>\n
Ebos Group, down 40c to $28, has opened a 30,000sq m pharmacy wholesale distribution centre in West Sydney featuring a 1.75MW rooftop solar array. It is the sixth new distribution centre as part of the company\u2019s four-year, $360m renewal programme.<\/p>\n
Power pole monitoring firm Ike GPS was up 5c or 5.15% to $1.02 after reporting a 5% increase in revenue to $12.8m for the first six months of the present financial year.<\/p>\n
Recognised platform subscription revenue rose 35% to $8.8m, and ike GPS confirmed<\/a> its full-year guidance of 35% or greater growth in platform subscription revenue. Operating earnings (ebitda) would break even in the second half.<\/p>\n Chatham Rock Phosphate, down 0.002c or 2.63% to 7.4c, and Rua Bioscience, down 0.01c or 2.86% to 3.4c, are both raising capital \u2013 the former $620,000 through a private placement at 0.05c a share, and the latter $2m through the issue of new equity at 0.03c a share.<\/p>\n