S&P/NZX 50 Closed Higher by 0.12%, Lifted by Communications Services

By the end of the trading session on 03 July 2024, the benchmark index S&P/NZX 50 ended higher by 0.12% and settled at 11,790.920.  Out of 11 sectors, 03 sectors closed higher along with the index.

Communications Services and Healthcare were the top-gaining sector, gaining 1.31% and 0.73% respectively in their index values. Consumer Staples and Consumer Discretionary was the top-lossing sectors, lossing 0.67% and 0.63% respectively in their index values. 

Port Of Tauranga Limited (NZX: POT) and AFT Pharmaceuticals Limited (NZX: AFT) are the top-gaining stocks, gaining 8.16% and 6.29% in their stock prices. On the other hand, New Talisman Gold Mines Limited (NZX: NTL) and TruScreen Group Limited (NZX: TRU) are the top-losing stocks and are declining by 13.04% and 11.76% in their stock prices.

Copyright © 2022 Kapitales Research

Top gainer for the day:

• Communications Services (Up 1.31%)
• Healthcare  (Up 0.73%)

Top loser for the day:

• Consumer Staples (Down 0.67%)
• Consumer Discretionary (Down 0.63%)

Other Factors influencing the market:

• The new code is part of the Government’s updates to the Credit Contracts and Consumer Finance Act, aimed at improving access to home loans and other lending, while enhancing customer protections.
• A 2023 survey of New Zealand institutional investors, managing over AU$230 billion in assets, revealed slow progress in investment targeting climate mitigation.
• Chen has integrated his business, APlus Compliance, into Strategi Compliance, significantly boosting its client assistance capabilities. This merger also makes Chen a shareholder and director of both Strategi and Strategi Compliance.
• Crude oil prices dropped in the previous session as concerns diminished that Hurricane Beryl would impact supplies, with the storm projected to bypass most oil fields on its path to Jamaica.
• The Dow closed up by 0.41%, the S&P 500 rose by 0.62%, and the NASDAQ increased by 0.84%.
• The Hang Seng is up by 0.29%, while the FTSE 100 is down by 0.56%.

Top 5 Gainers and Losers Scoreboard:

Customer Notice:

Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.

Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com