\u201cThere\u2019s been good underlying guts to the market for a while, and now that some of the leading stocks have started to bounce a bit, it\u2019s becoming evident in the headline performance.\u201d<\/p>\n
Naomi James duo<\/p>\n
One of those stocks is Ryman, which backed up from a strong Wednesday session, rising 2.69% to $2.67 on turnover worth $2.8m.<\/p>\n
Sigley said the stock\u2019s performance has been helped by listing on the Australian Securities Exchange (ASX) on Wednesday.<\/p>\n
He noted that some Australian investment funds have mandates that prohibit the purchase of NZ-only stocks.<\/p>\n
\u201cBy opening that up, they\u2019ve opened up a whole range of additional investors, and obviously somebody out there has taken a bit of a shine to it,\u201d he said.<\/p>\n
Channel Infrastructure, which incidentally was formerly run by Ryman\u2019s chief executive, Naomi James, likewise had a strong day. The Marsden Point owner lifted sharply at 3pm, ending up 1.88% to $2.71.<\/p>\n
Sigley said news that global oil giants are rationalising their assets was giving some investors the idea that Channel will have some favourable acquisition opportunities in the near future.<\/p>\n
\u201cSomebody\u2019s joined the dots,\u201d he said, adding that the Wiri Tank Farm in Auckland is something investors will be hoping Channel can get its hands on.<\/p>\n
\u201cThat\u2019s something that channel has talked about in the past, has been sort of a perfect fit for their business, and something that they\u2019ve got a real core competency in operating.\u201c<\/p>\n
Losing out today was Mainfreight, which Sigley said was having difficulties due to its unfortunate exposure to disruptions in global trade flows and the United States. It cut back 2.12% to finish the day at $61.99.<\/p>\n
Bremworth<\/p>\n
Bremworth became the latest listed company to announce its likely departure from the exchange. Earlier in the day, it announced that it had struck a deal <\/a>for the owner of its rival, Godfrey Hirst, to acquire it.<\/p>\n The carpet and rug manufacturer has entered into a scheme implementation agreement with Mohawk Industries, through its premium hard flooring business, Floorscape.<\/p>\n Under the deal, shareholders could receive between $1.05 and $1.15 per share, subject to market conditions and business performance.<\/p>\n Having closed at 62 cents on Wednesday, they soared promptly after the announcement to close out the session at 88 cents.<\/p>\n The Warehouse Group\u2019s shares had dipped 2.5% but climbed in the last hour of trading to close the day flat at 80 cents.It posted earnings<\/a> before interest and taxes (ebit), or operating earnings, of $1.3m. That was down sharply from $28.9m a year earlier but within the guidance range it gave in July of a loss or gain of up to $5m.<\/p>\n The retailer said sales and gross profit for the first seven weeks of fiscal 2026 are tracking at similar levels to last year.<\/p>\n