Market close: New Zealand shares flat to close the week

Sky Network Television and property companies Argosy and Stride finished the week in a buoyant mood off the back of some aggressive buying as the New Zealand sharemarket overall had another flat day.

The S&P/NZX 50 Index was up 8.39 points or 0.06 per cent to 13,288.87, after reaching an intraday low of 13,267.90 and high of 13321.01.

Trading was steady, with 58.6 million shares worth $171.93 million changing hands, and there were 80 gainers and 52 decliners over the whole market.

Sky TV has attracted renewed investor confidence this week, rising 25 per cent with another 0.09c or 4.59 per cent jump to a 20-month high of 20.5c.

Argosy increased 3.5c or 2.12 per cent to $1.685 and Stride Property also gained 2c to $2.70 on the news they will be included in the FTSE EPRA Nareit Global Real Estate Index on September 17. Stride is also being included in the FTSE Global Small Cap Index.

Vital Healthcare Property Trust missed out on the real estate index and fell 15c or 4.53 per cent on Thursday, though it recovered 2c to $3.18.

Matt Goodson, managing director of Salt Funds Management, said there had been steady buying pressure in Argosy and Stride, and it would be interesting to see whether the buying has peaked ahead of the big index inclusion.

Mainfreight, down $1.06 to $95.45, is re-entering the FTSE Global Equity Index Series on September 17. “It’s madness, really,” said Goodson. “Mainfreight fell out of the index in March last year when its share price was in the mid to high $20 and the stock was too illiquid.

“Now, there are enough trades on the market to send it back into the index when the share price is nearing $100.”

This week’s third New Zealand Emissions Trading Scheme auction saw strong demand and the carbon price broke through the ceiling of $50 a tonne to $53.85. The price is expected to go higher, and the listed Carbon Fund increased another 2c to $1.95, after sitting at $1.67 on August 27.

Overnight, the New Zealand ingenuity story Rocket Lab lifted off in its first week listed on the American Nasdaq Composite, rising US$1.49 ($2.09) or 14.69 per cent to US$11.63.

At home, it was all quiet on the corporate newsfront. Fisher and Paykel Healthcare was back up again, gaining 5c to $33.45; Infratil collected 15c or 2.04 per cent to $7.52; Genesis Energy increased 4c to $3.42; Briscoe Group was up 13c or 1.97 per cent to $6.73; and Napier Port posted 10c or 3.17 per cent to $3.25.

Re-opening stocks Auckland International Airport gained 7c to $7.25, Serko climbed 32c or 4 per cent to a new high of $8.32; and Air New Zealand was up 2.5c to $1.565. SkyCity Entertainment picked up 5c to $3.37

Retirement village operators Ryman Healthcare rose 25c to $15.83; Summerset Group Holdings increased 10c to $15.50; and Oceania Healthcare was down 4c or 2.55 per cent to $1.53.

Meal kit company My Food Bag is having a little revival, up 3c or 2.13 per cent to $1.44 after hitting $1.27 on August 16. DGL Group rose 15c or 6.33 per cent to $2.52; AMP gained 3c or 2.65 per cent to $1.16; Move Logistics increased 5c or 2.94 per cent to $1.75; Bremworth (formerly Cavalier Corporation) picked up 3c or 4.55 per cent to 69c; and Refining NZ was up 2c or 2.08 per cent to 98c.

Fletcher Building was down 8c to $7.35 on the day’s biggest individual trading worth $31.1m; Spark declined 6c to $4.83; Ebos Group fell 29c to $35.15; Restaurant Brands shed 49c or 3.06 per cent to $15.41; and Delegat Group decreased 20c to $13.80.

Contact Energy was down 5c to $8.25; a2 Milk shed 7c to $5.98; Evolve Education declined 3c or 4.35 per cent to 66c; and Third Age Health Services decreased 5c or 2.18 per cent to $2.24.

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