Jarden Brief: All Aussie sectors in green, Air NZ flies high at home

An Air New Zealand 777-200 parked up on the tarmac at Auckland International Airport during lockdown. Photo / Brett Phibbs

Keeping you up to date with the latest market moves, in association with Investment firm Jarden

International

US

US markets were closed yesterday due to Independence Day.

New Zealand

The NZX 50 closed 1.0 per cent higher at 10,862 points.

Air New Zealand flew above the other stocks on the index on Monday, with a 5.1 per cent increase to its share price. This comes ahead of the planned full reopening of New Zealand's borders by the end of July.

Tourism Holdings closed 3.4 per cent up.

Heartland Group Holdings rounded out the top three performers climbing 3.1 per cent by close.

SkyCity Entertainment experienced the largest decrease on the index yesterday, down 4.1 per cent.

This follows an announcement around an investigation into their Adelaide casino from the South Australia's Gaming Regulator.

Vista Group declined 1.8 per cent, bringing the film software provider down 31.1 per cent year to date. Investore Property also closed in the red, down 1.2 per cent.

The New Zealand 10-year Government Bond rate continued its decline, closing at 3.602 per cent. This represents a 15 per cent drop from its 4.268 per cent high last month.

Australia

The ASX 200 improved 1.1 per cent to close at 6,612.60 points.

All 11 sectors finished in the green. Energy increased 2.6 per cent, Australian real estate investment trusts rose 2.2 per cent, and consumer discretionary notched a 1.8 per cent gain.

Biotechnology business Imugene was the leading single stock on the ASX 200, up 12.8 per cent. Property company Ingenia Communities Group gained 5.3 per cent. Regenerative medicine firm Mesoblast increased 5.2 per cent.

Magellan Financial Group dropped 9.9 per cent against the run of play. Australian media reported Frank Casarotti, the fund manager's head of sales and distribution, will retire in December next year.

Bookmaker Pointsbet Holdings slipped 6.3 per cent. Investment firm Perpetual fell 3.3 per cent.

Superloop announced plans to buy back up to 48.68 million ordinary shares on-market, equating to 10 per cent of the telecommunications firm's issued share capital.

Breville Group announced the completion of its purchase of Italian coffee group LELIT.

The total consideration encompassed A$84 million in cash and the issue of 3.1 million ordinary Breville shares, based on a share price of A$27.64 determined in March.

Australian Bureau of Statistics (ABS) data revealed a seasonally adjusted uptick in dwelling approvals during the month of May (+9.9 per cent), driven by a 32 per cent rise in approvals for private sector dwellings excluding houses.

The ABS also reported a 1.7 per cent seasonally adjusted increase in the value of new housing loan commitments in May. Lenders chalked this down to a clearing of loan processing backlogs accumulated during the previous month.

• For more information on the latest market moves, get in touch with Jarden.

Jarden is advising Tourism Holdings Limited on an agreement to merge with Apollo Tourism and Leisure Limited.

The Jarden Brief is provided for general information purposes only. It reflects views and research available 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.  The Jarden 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 financial advice disclosure statement is available free of charge at https://www.jarden.co.nz/our-services/wealth-management/financial-advice-provider-disclosure-statement/. Full disclaimer available at: https://www.jarden.co.nz/wealth-sales-and-research-disclaimer