{"id":31018,"date":"2025-09-19T06:36:07","date_gmt":"2025-09-19T06:36:07","guid":{"rendered":"https:\/\/www.newsbeep.com\/nz\/31018\/"},"modified":"2025-09-19T06:36:07","modified_gmt":"2025-09-19T06:36:07","slug":"nz-stocks-claw-back-lost-ground-to-end-firm-market-close","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/nz\/31018\/","title":{"rendered":"NZ stocks claw back lost ground to end firm \u2013 Market close"},"content":{"rendered":"

Markets are starting to price in a bigger-than-expected 50 basis point cut in the Reserve Bank\u2019s Official Cash Rate, which would be a boon for equities.<\/p>\n

\u201cThe market has priced in a faster cutting in rates in New Zealand and landing at a lower level than it previously did, so we are seeing that feed through to more positive expectations on the New Zealand market,\u201d Solly said.<\/p>\n

Ebos<\/a> gained $1.24 or 4.3% to end at $29.86 in anticipation of the stock entering the influential S&P\/ASX200 Index on Monday.<\/p>\n

The market was also supported by gains in other big cap stocks Infratil<\/a>, up 18c at $12.34; Fisher and Paykel Healthcare<\/a>, up 84c at $38.32; Auckland Airport<\/a>, up 15c at $7.85; and Mainfreight, up $1.57 or 2.5% at $64.18.<\/p>\n

Freightways \u2013 one of the few companies to report strong earnings in the last reporting season \u2013 gained 59c or 4.6% to $13.39.<\/p>\n

Solly said trading on the day was \u201cmessy\u201d on reports of various stocks entering and leaving the FTSE and S&P indices.<\/p>\n

Channel Infrastucture \u2013 whose market cap now exceeds $1 billion \u2013 gained 4c to $2.48.<\/p>\n

On the downside, Sky TV fell 16c to $3.10 and Restaurant Brands dropped 11c to $2.83.<\/p>\n

Mercury NZ, which held its annual meeting today, fell by 16c or 2.4% to $6.49.<\/p>\n

Port of Tauranga<\/a> dropped 11c to $7.19.<\/p>\n

The company \u2013 which operates New Zealand\u2019s biggest port \u2013 today requested that its Stella Passage development resource consent application be referred by Minister for Infrastructure Todd McLay to the fast-track consenting process.<\/p>\n

Steel and Tube\u2019s share price continued to struggle, losing 3.4c to 65.5c.<\/p>\n

The steel distributor, with its high exposure to a weak economy, reported a $23.37m loss last month and a 20% decline in sales revenue to $385.4m.<\/p>\n

But Solly said the magnitude of the day\u2019s downs was much lower than the magnitude of the increases.<\/p>\n

Looking ahead, investors have high hopes for Fonterra, which reports its annual result on Thursday.<\/p>\n

In its latest guidance, Fonterra lifted the 2024\/25 season forecast farmgate milk price from $10.00 per kgMS to $10.15 per kgMS.<\/p>\n

The co-op is forecasting earnings of 65-75 cents per share.<\/p>\n

Fonterra is in the throes of selling its consumer and associated businesses to France\u2019s Lactalis for $4.22b. <\/p>\n

The sale is expected to provide a $2 per share capital return to Fonterra shareholders.<\/p>\n

Jamie Gray is an Auckland-based journalist, covering the financial markets and the primary sector. He joined the Herald in 2011.<\/p>\n","protected":false},"excerpt":{"rendered":"Markets are starting to price in a bigger-than-expected 50 basis point cut in the Reserve Bank\u2019s Official Cash…\n","protected":false},"author":2,"featured_media":31019,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[74,1863,138,29845,651,3105,29846,13981,8127,1138,13988,109,3499,29847,6559,9832,26477,5836,225,220,3523,111,139,69,193,29848,16237,1125,643,3769,1961,61,29849,4518],"class_list":["post-31018","post","type-post","status-publish","format-standard","has-post-thumbnail","category-markets","tag-after","tag-back","tag-business","tag-claw","tag-close","tag-data","tag-distributor","tag-ebos","tag-end","tag-firm","tag-gains","tag-ground","tag-growth","tag-handful","tag-heavy","tag-helped","tag-leaders","tag-lost","tag-market","tag-markets","tag-medical","tag-new-zealand","tag-newzealand","tag-nz","tag-other","tag-poor","tag-rally","tag-sharemarket","tag-stocks","tag-supplies","tag-this","tag-to","tag-turnover","tag-weeks"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/31018","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=31018"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/31018\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/31019"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=31018"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=31018"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=31018"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}