S&P/NZX 50 Closed Lower by 0.11%, Dragged down by Healthcare

By the end of the trading session on 02 July 2024, the benchmark index S&P/NZX 50 ended lower by 0.11% and settled at 11,776.730.  Out of 11 sectors, 02 sectors closed lower along with the index.

Information Technology and Materials were the top-gaining sector, gaining 1.16% and 0.70% respectively in their index values. Healthcare and Communications Services was the top-lossing sectors, lossing 1.13% and 0.01% respectively in their index values. 

WasteCo Group Limited (NZX: WCO) and EROAD Limited (NZX: ERD) are the top-gaining stocks, gaining 9.38% and 8.65% in their stock prices. On the other hand, Marlin Global Limited (NZX: MLN) and RUA Bioscience Limited (NZX: RUA) are the top-losing stocks and are declining by 13.33% and 11.11% in their stock prices.

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Top gainer for the day:

• Information Technology (Up 1.16%)
• Materials  (Up 0.70%)

Top loser for the day:

• Healthcare (Down 1.13%)
• Communications Services (Down 0.01%)

Other Factors influencing the market:

• The New Zealand stock market declined amid ongoing declines in business confidence and a shift towards disinflation.
• Promisia postponed the acquisition of Golden View and Ripponburn Lifestyle Villages in Cromwell until August 14, pending satisfaction of finance conditions by July 31. BNZ offered to refinance NZ$13.1 million.
• New Talisman Gold Mines resumed trading after securing additional loan facilities, ensuring it can issue a revised unqualified audit report and preparing for a forthcoming capital raise.
• Oil prices surged to their highest level in over two months, driven by escalating geopolitical tensions in Europe and the Middle East, along with a hurricane in the Caribbean.
• The Dow Jones closed with a gain of 0.13%, the S&P 500 rose by 0.27%, and the NASDAQ finished higher by 0.81%.
• The Hang Seng increased by 0.25%, while the FTSE 100 saw a modest rise of 0.03% today.

Top 5 Gainers and Losers Scoreboard:

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