Amazon chairman and major shareholder Jeff Bezos. Photo / AP
Keeping you up to date with the latest market moves, in association with Investment firm Jarden
US Markets were mixed at the time of writing. The S&P 500 dropped 0.1 per cent, the Dow Jones Industrial Average fell 0.3 per cent, and the Nasdaq traded 0.1 per cent higher.
Consumer discretionary, energy and communication services were the leading sectors, each up 1.0 per cent.
The health and real estate sectors traded lower at the time of writing, down 1.1 per cent a piece. Utilities followed with a 0.9 per cent reduction.
Fertiliser producer Mosaic Co was the best performing single stock at the time of writing, up 6.8 per cent. Fellow fertiliser firm CF Industries experienced a 5.7 per cent gain.
Amazon traded 4.5 per cent higher following news that the company's shareholders formally approved a 20-for-1 stock split, which is due to occur on June 3.
Biotechnology company Illumina underperformed, down 6.2 per cent. Constellation Energy traded 4.3 per cent lower at the time of writing.
Biotechnology business Regeneron Pharmaceuticals declined 3.9 per cent. The US Food and Drug Administration (FDA) accorded priority review to Regeneron's application for Dupixent to treat skin disease prurigo nodularis. A priority review designates an FDA decision within six months, compared with a standard review's 10-month timeframe.
Asian markets were mixed. The Nikkei dropped 0.3 per cent. The Hang Seng improved 1.4 per cent, and the Shanghai Composite gained 1.2 per cent.
Chinese National Bureau of Statistics data revealed an increase in the manufacturing Purchasing Managers' Index (PMI) from 47.4 in April to 49.6 in May. The PMI remained below the 50-point threshold, indicating that the country's factory activity continued to decline, albeit at a reduced rate.
South Korean Government data demonstrated a 3.3 per cent seasonally adjusted decline in industrial output in April, compared to the previous month. On the flip side, service sector output climbed 1.4 per cent over this period.
Japanese factory output also reduced in April, falling 1.3 per cent from the previous month, primarily driven by declines in the production of electronic components and production machinery.
WTI Crude Oil prices increased 0.1 per cent to US$115.20 at the time of writing. European Union leaders agreed to a partial embargo on almost 90 per cent of Russian crude oil imports by year-end.
Gold prices decreased 0.8 per cent to US$1837.00 as US bond yields rose with the US 10-year Treasury rate yielding 2.846 per cent at the time of writing, up 9.7 basis points.
Cryptocurrencies were in the green. Bitcoin traded 4.3 per cent higher, and Ethereum improved 1.9 per cent.
The NZX 50 closed in the green yesterday, up by 1.4 per cent.
Sky TV was the top performer of the day, up 8.5 per cent. Meridian Energy rose 6.8 per cent after releasing disclosures of directors and senior managers relevant interests.
Another outperformer was real estate investment trust company Goodman Property, increasing 4.9 per cent.
On the flip side, road charging and services provider Eroad was the biggest underperformer, down 5.6 per cent.
Air New Zealand decreased 3.0 per cent and infrastructure investment company Infratil declined 2.8 per cent.
In other news, Arvida Group rose 1.3 per cent. The aged care company released profit results on Monday with net profit after tax for FY22 up 52 per cent on FY21. Healthcare company EBOS Group gained 1.0 per cent after announcing it had completed the acquisition of medical device distributor LifeHealthcare.
ANZ published its New Zealand Business Outlook showing a net 56 per cent of firms expected economic conditions to deteriorate while own activity outlook fell from 8.0 per cent in April to -4.7 per cent in May.
BNZ announced it will increase its interest rates on its Standard, Fly Buys, Rapid Repay and Mortgage One variable rate loans from 5.5 per cent to 5.94 per cent in June. This follows hikes by ANZ and Kiwibank.
Drawing back from Monday's gains, the ASX 200 closed 1.0 per cent lower.
Every sector closed in the red with information technology and financials experiencing the biggest losses, down 2.0 and 1.9 per cent respectively.
Beach Energy was the strongest performer with a 5.2 per cent increase to its share price. The oil and gas producers' performance may have been fuelled by the recent increase in the oil price.
Coal processor Whitehaven also performed well, up 3.5 per cent. This increase brings Whitehaven's share price 91.3 per cent up from the start of the year.
Fisher and Paykel Healthcare rounds out the top three performers with a 2.8 per cent increase.
Tyro Payments ended the day with the largest decline, down 6.6 per cent. This drags Tyro Payments to 63.7 per cent from the start of the year.
Finance and insurance company Suncorp was also in the red with a 6.4 per cent decline.
Alongside other laggards, EML Payments dropped 6.0 per cent. The company is down 54.7 per cent year to date.
Australia building approvals data was released yesterday. These showed a decrease in total dwellings of 2.4 per cent alongside a 30 per cent decrease in the total value of approved non-residential buildings.
General government taxation revenue for the March quarter was also released. This fell 5.7 per cent, which brought total tax take down to A$168.4 billion. The net operating balance of general government remained in the red at –A$2.2 billion, however, this was an improvement of A$3.2 billion compared to the previous quarter.
Also in the March quarter, company seasonally adjusted operating profits climbed 10.2 per cent. Consequently, seasonally adjusted wages and salaries rose 1.8 per cent.
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Disclaimer: 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
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