{"id":144564,"date":"2025-11-20T10:48:08","date_gmt":"2025-11-20T10:48:08","guid":{"rendered":"https:\/\/www.newsbeep.com\/nz\/144564\/"},"modified":"2025-11-20T10:48:08","modified_gmt":"2025-11-20T10:48:08","slug":"nvidia-earnings-boost-global-markets-as-nz-sharemarket-closes-up-market-close","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/nz\/144564\/","title":{"rendered":"Nvidia earnings boost global markets as NZ sharemarket closes up – Market close"},"content":{"rendered":"

Hamilton Hindin Greene investment adviser Jeremy Sullivan said markets were having a positive day largely across the board, as results from Turners Automotive Group, My Food Bag<\/a> and Goodman Property Trust<\/a> made their impact.<\/p>\n

\u201cI think the main global story has to be Nvidia, and that\u2019s flowed through to the likes of Infratil with their data centres here in New Zealand,\u201d Sullivan said.<\/p>\n

\u201cRevenue of US$57 billion for the quarter, data centre revenue up 66% year on year and GPUs are old out. It\u2019s fair to say that Nvidia remains the central bottleneck and beneficiary of a global AI investment, and there\u2019s no sign of slowing demand there.\u201d<\/p>\n

Infratil\u2019s share price lifted 3.46% or 40c to $11.95 on turnover worth $6.8m following Nvidia\u2019s result.<\/p>\n

Elsewhere My Food Bag<\/a> reported revenue growth of 3% to $85.4m in its half-year result, although net profit dipped slightly to $2.9m.<\/p>\n

\u201cMore of an incremental improvement story, with modest growth, customer gains and lower debt. Not a high flyer by any means, but stabilising their business and finding their feet again.\u201d<\/p>\n

The market liked what it saw, with My Food Bag rallying 4.00% or 1c to $0.26 with 919,457 shares changing hands.<\/p>\n

A2 Milk had its annual shareholder meeting and upgraded<\/a> its FY26 revenue guidance because of stronger-than-expected trading in infant formula, other nutritionals, milk and a weaker New Zealand dollar.<\/p>\n

\u201cI think the key takeaway for them is just after several years of volatility, A2 is showing signs of stabilised broad-based growth, and the upgrade wasn\u2019t all currency driven and the signals are there that demand is firming up better than the market expected.\u201d<\/p>\n

Sullivan said investors were hoping for more, with A2\u2019s share price falling 0.47% or 5c to $10.70 on turnover worth $8.6m.<\/p>\n

Meanwhile, Turners Automotive reported its first-half result, delivering a record profit of $21.9m despite subdued consumer conditions.<\/p>\n

Sullivan said one interesting part of its update was the decline in automotive retailers in New Zealand, with the number of registered dealers at its lowest point since May 2012.<\/p>\n

\u201cAs they grow the competition\u2019s shrinking, and the recent clean car discount changes from the Government is going to allow them to import a lot of their more traditional vehicles as well, all pointing to a pretty solid result from Turners.\u201d<\/p>\n

Turners\u2019 share price lifted 0.78% or 6c to $7.77 on turnover worth $4.2m.<\/p>\n

In the US markets, the Dow closed up 0.1% at 46,138.77, the S&P 500 closed up 0.4% at 6642.19, with the Nasdaq Composite closing up 0.6% at 22,564.23.<\/p>\n

\u2013 Additional reporting AFP<\/p>\n

Tom Raynel is a multimedia business journalist for the Herald, covering small business, retail and tourism.<\/p>\n

Stay ahead with the latest market moves, corporate updates, and economic insights by subscribing to our Business newsletter<\/a> \u2013 your essential weekly round-up of all the business news you need.<\/p>\n","protected":false},"excerpt":{"rendered":"Hamilton Hindin Greene investment adviser Jeremy Sullivan said markets were having a positive day largely across the board,…\n","protected":false},"author":2,"featured_media":144565,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[74,4765,806,11231,138,651,5201,18509,4568,83936,564,1437,96972,13484,5342,225,220,2374,19332,111,139,1042,69,2989,17526,12229,36565,26264,1125,810,6123,102,41402,80],"class_list":["post-144564","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-after","tag-annual","tag-as","tag-boost","tag-business","tag-close","tag-closed","tag-closes","tag-earnings","tag-faltered","tag-food","tag-global","tag-halfyear","tag-higher","tag-losses","tag-market","tag-markets","tag-meeting","tag-milk","tag-new-zealand","tag-newzealand","tag-nvidia","tag-nz","tag-positive","tag-rallying","tag-result","tag-reversed","tag-shareholder","tag-sharemarket","tag-up","tag-while","tag-with","tag-yesterdays","tag-zealand"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/144564","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=144564"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/144564\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/144565"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=144564"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=144564"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=144564"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}