{"id":156356,"date":"2025-11-27T13:08:15","date_gmt":"2025-11-27T13:08:15","guid":{"rendered":"https:\/\/www.newsbeep.com\/nz\/156356\/"},"modified":"2025-11-27T13:08:15","modified_gmt":"2025-11-27T13:08:15","slug":"fisher-paykel-healthcare-drives-nz-sharemarket-up-market-close","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/nz\/156356\/","title":{"rendered":"Fisher & Paykel Healthcare drives NZ sharemarket up \u2013 Market close"},"content":{"rendered":"

\u201cIt\u2019s given back a bit of ground, and that ground that we have given back has been post the Reserve Bank update. The terminal rate was slightly higher than market was anticipating, so we\u2019ve seen the NZ\/US dollar exchange rate tick up about 0.5%,\u201d Sullivan said.<\/p>\n

Key to the sharemarket\u2019s rise was the half-year result from Fisher & Paykel Healthcare<\/a>.<\/p>\n

The company\u2019s share price rallied 4.63% or $1.70 to $38.40 on turnover worth $44.2m after its result, in which it delivered an 18% increase in total revenue and a 39% increase in net profit.<\/p>\n

The company also updated its full-year guidance, lifting its expected operating revenue to sit in the range of about $2.17 billion to $2.27b.<\/p>\n

\u201cIt was a fantastic result. Approximately $1b in revenue, lifting guidance, expanding margins, it\u2019s a very good-quality healthcare exporter in New Zealand and a clear global growth runway for them,\u201d Sullivan said.<\/p>\n

The Reserve Bank of New Zealand cut the Official Cash Rate (OCR) by 25 basis points to 2.25%.<\/p>\n

Sullivan said it was as the market had expected, but he believed the chances of another rate cut in February had been reduced.<\/p>\n

Elsewhere, Genesis Energy held its investor day today, where it announced more details on its Gen 35 strategy, and confirmed its earnings growth is on track.<\/p>\n

\u201cI guess the key takeaway there is that it seems to be executing on its renewable strategy and maintaining a disciplined dividend framework, so sort of steady as she goes really for them.\u201d<\/p>\n

Genesis\u2019 share price lifted 0.41% or 1c to $2.46.<\/p>\n

The OCR update supported a late boost to Channel Infrastructure\u2019s share price, which rose 3.33% or 9c to $2.79 after 2.1 million shares changed hands on turnover worth $6.1m.<\/p>\n

Fletcher Building followed suit, lifting 1.53% or 5c to $3.32 on turnover worth $7.5m.<\/p>\n

Meanwhile, Infratil\u2019s share price fell on turnover worth $6.03m, losing 2.28% or 26.75c to close at $11.44.<\/p>\n

Wall Street stocks shrugged off early weakness on Tuesday and joined European bourses in rising on continued hopes the US Federal Reserve will cut interest rates next month.<\/p>\n

The prospect for further interest rate easing helped offset lingering worries about whether artificial intelligence equities are overvalued, while a trove of mixed US economic reports included some worrying signs that analysts said likely strengthened the Fed\u2019s case for cutting rates.<\/p>\n

All three US indices advanced, led by the blue-chip Dow index, which climbed 1.4%. Earlier, London, Paris and Frankfurt all pushed higher.<\/p>\n

More broadly, oil prices retreated amid reports that a deal to end the war in Ukraine may be close, which, if confirmed, would allow Russia to export a vastly larger amount of oil.<\/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":"\u201cIt\u2019s given back a bit of ground, and that ground that we have given back has been post…\n","protected":false},"author":2,"featured_media":156357,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[28119,1396,138,6932,651,5201,1656,52606,36090,5504,71,527,13484,19136,225,220,111,139,69,5908,37736,19257,10665,12229,1125,18835,1865,810,80],"class_list":{"0":"post-156356","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-amp","9":"tag-banks","10":"tag-business","11":"tag-cash","12":"tag-close","13":"tag-closed","14":"tag-company","15":"tag-drives","16":"tag-fisher","17":"tag-following","18":"tag-from","19":"tag-healthcare","20":"tag-higher","21":"tag-largest","22":"tag-market","23":"tag-markets","24":"tag-new-zealand","25":"tag-newzealand","26":"tag-nz","27":"tag-official","28":"tag-paykel","29":"tag-rate","30":"tag-reserve","31":"tag-result","32":"tag-sharemarket","33":"tag-strong","34":"tag-today","35":"tag-up","36":"tag-zealand"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/156356","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=156356"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/156356\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/156357"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=156356"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=156356"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=156356"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}