{"id":167515,"date":"2025-12-04T09:57:08","date_gmt":"2025-12-04T09:57:08","guid":{"rendered":"https:\/\/www.newsbeep.com\/nz\/167515\/"},"modified":"2025-12-04T09:57:08","modified_gmt":"2025-12-04T09:57:08","slug":"ebos-group-sell-off-pushes-down-nz-sharemarket-market-close","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/nz\/167515\/","title":{"rendered":"Ebos Group sell-off pushes down NZ sharemarket \u2013 Market close"},"content":{"rendered":"
Fonterra\u2019s total group profit after tax for the three months to October 31 was $278m, up $15m \u2013 the equivalent of 17 cents per share.<\/p>\n
\u201cBusiness as usual for them to a certain extent. There\u2019s nothing surprising in the end, the narrowing of the farm gate milk price will help farmers with their budgeting and so forth at 950kg of milk solids,\u201d Sullivan said.<\/p>\n
\u201cIt\u2019s still a relatively buoyant year although it\u2019s been eight Global Dairy Trade auctions in a row that have come down. So there\u2019s going to be a bit of pressure on those wholesale prices over the next year.\u201d<\/p>\n
Fonterra traded in light volume with 145,068 shares changing hands on turnover worth $845,973.08.<\/p>\n
Ebos Group led the day\u2019s downturn after a single trader sold 1.5 million shares, the bulk of the $44.4m traded by close, with its share price falling 1.58% or 45c to $28.05.<\/p>\n
Elsewhere, Fisher & Paykel Healthcare also dragged the market down, falling 0.47% or 18c to $38.20 on turnover worth $26.1m.<\/p>\n
Vital Healthcare completed its share purchase plan, shedding 4.55% or 9c to $1.89 on turnover worth $2.9m.<\/p>\n
Sullivan said there may be a small potential overhang, but those who have subscribed to that are now \u201cunderwater\u201d.<\/p>\n
Meridian Energy fell for another day, dropping 1.22% or 7c to $5.65, while Infratil fell 1.77% or 21c to $11.65.<\/p>\n
Meanwhile, New Talisman Gold Mines had its trading halt lifted and announced it is currently in negotiations with Terra Firma Mining. <\/p>\n
The business said it expects to open a wider capital raise in February.<\/p>\n
International news<\/p>\n
Wall Street stocks shrugged off early weakness on Wednesday and finished with solid gains after poor US hiring data boosted expectations the Federal Reserve will cut interest rates next week.<\/p>\n
The report showed US companies shed 32,000 jobs in November, payroll firm ADP said, in a surprise drop that added to worries about economic weakness while also boosting expectations of Fed monetary policy relief.<\/p>\n
All three major US indices finished higher, with the S&P 500 up 0.3%.<\/p>\n
Optimism over US rate cuts gained an additional boost from reports that Trump\u2019s top economic adviser Kevin Hassett \u2013 a proponent of more rate reductions \u2013 is the frontrunner to take the helm at the Fed when Jerome Powell\u2019s tenure ends in May.<\/p>\n
The euro hit a seven-week high against the US dollar, analyst Axel Rudolph at trading platform IG International noted.<\/p>\n
Meanwhile, the British pound gained about 1% against the US dollar, receiving a boost from data showing stronger than expected activity from the UK services sector.<\/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