The a2 Milk Company, caravan rental company Tourism Holdings, and retirement village operator Ryman Healthcare were the best performers on the day, each posting wins of 4.2, 4.0, and 3,6 per cent, respectively.
In other news, the Supreme Court has dismissed Trans-Tasman Resources' appeal to regain its permits to mine iron ore sands offshore from Taranaki. Trans-Tasman Resources were previously granted consent to mine the 66 square kilometres of seabed in 2016, which was then overturned in 2018 by the high court, and officially put to bed on Thursday with the Supreme Court's ruling.
New Zealand King Salmon traded higher by 3.6 per cent today after posting its 1H2022 result, while the largest decrease of the day was Seafood exporter Sanford Ltd, falling 2.9 per cent.
Additional decreases came from agricultural products producer Skellerup, and film technology producer Vista Group, each down by 2.3 and 2.2 per cent.
International Markets:
US:
Ahead of a midnight deadline (US time) for Congress to prevent a government shutdown, the Senate plans on a short-term solution, passing a bill that would keep the government running until 3 December this year. The major US indices were mainly trading lower with the S&P 500 decreasing 0.6 per cent and the Dow Jones Industrial Average (DJIA) down 1.1 per cent this morning. However, the NASDAQ was slightly higher, up 0.1 per cent.
Communication services was the only sector in the green, increasing 0.2 per cent, while all others were down. Consumer staples and industrials were posting the biggest losses, decreasing 1.4 and 1.2 per cent, respectively.
The best performer on the S&P 500 this morning was human capital management services provider Paychex, increasing by 5.4 per cent, with the market reacting favourably to its earnings announcement before market open.
Electronic Arts also performed well, up 3.9 per cent. The digital games developer holds brands like Battlefield, The Sims, and FIFA, among others.
Rounding out the leader board was Match Group, trading 3.3 per cent higher. The company's dating platform portfolio includes Tinder, Hinge, and OkCupid, among others.
The auto retailer CarMax reported quarterly profits below analysts' expectations, declining the most this morning, down 10.5 per cent. Apparel retailer Gap dropped a further 7.2 per cent, continuing its overall downward trend, which started in May. The share price was above US$30 earlier this year and has now decreased to US$22.95.
Activewear apparel company Hanesbrands also underperformed. The company holds brands like Champion and Bonds, among others, and its share price dropped 6.9 per cent.
The number of jobless claims for last week was 362,000, which was a bigger-than-expected jump. It was an increase from the upward revised previous week's unemployment benefit claims of 351,000. This was the third consecutive rise in weekly claims.
Rest of the World Markets:
Asian indices delivered mixed performances overnight. The Nikkei decreased 0.3 per cent and the Hang Seng declined 0.4 per cent, while the Shanghai composite increased 0.9 per cent.
Commodities:
Commodities were performing well this morning.
Gold rallied 2.1 per cent to US$1,758.90 per ounce.
Oil traded 1.5 per cent higher at US$75.94 per barrel trading at its highest level since 2018.
Cryptocurrencies were in recovery. Bitcoin increased by 4.5 per cent, while Ethereum rallied 6.2 per cent.
The US 10-year treasury rate was yielding 1.517 per cent, at the time of writing.
Australian Markets:
The ASX 200 rose a strong 1.9 per cent yesterday, led upwards by consumer non-cyclicals and basic materials, each gaining 2.6 per cent in a day where all sectors flashed green.
The high Covid-19 case numbers recorded yesterday did not appear to dampen investor confidence in Australia.
Orica surged 14.5 per cent, experiencing the stock's best day in 14 years (since April 2007). The explosives company released an update on Wednesday outlining improved performance at its manufacturing plants, and ammonium nitrate volumes that remained within guidance.
Beach Energy rose 9.1 per cent. It outlined in an investor update on its recent drilling success, planned oil well developments and gas discoveries.
Technology company Codan increased by 5.1 per cent, recovering from a decline earlier in the week.
In contrast, Pinnacle Investment Management fell 3.5 per cent, furthering the 9.1 per cent loss on Wednesday. It is likely declining off the record high it reached last week with its AGM.
Ausnet Services declined by 1.6 per cent and AGL Energy lost 1.5 per cent.
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Disclaimer: This Morning Brief has been prepared in good faith and reflects opinions and views at the time of publication, using external sources, systems and other data and information we believe to be accurate, complete and reliable at the time of preparation. We make no representation or warranty as to the accuracy, correctness and completeness of that information, and will not be liable or responsible for any error or omission. This Morning Brief is not to be relied upon as a basis for making any investment decision. Please seek specific investment advice before making any investment decision. Jarden Securities Limited is an NZX Firm, a broker disclosure statement is available free of charge at www.jarden.co.nz. Jarden is not a registered bank in New Zealand. Full disclaimer available at: https://www.jarden.co.nz/limitations-and-disclaimera>
