"The bank will be forced to speed up the increases in the OCR to get inflation under control and there is likely to be a softer landing – with the rate reaching 3.25 per cent in the second or third quarter next year and being spared the last 25 basis points increase."
Ryman Healthcare, arguably the country's biggest retirement village operator, was down 41c 4.35 per cent to $9.02 and has now fallen nearly 36 per cent in the past 12 months.
Summerset Group Holdings declined 10c to $11.40.
Even worse, a2 Milk is down more than 43 per cent in the past year after falling 14c or 2.72 per cent to $5.01. Synlait Milk declined 6c to $3.32.
Transtasman chemicals business DGL Group surged 45c or 12.06 per cent to a new high of $4.18 after upgrading its operating earnings (ebitda) guidance to $65m on revenue of $354m for the year ending June.
DGL listed in late May last year after making an initial public offer at $1 a share and has now passed the $1 billion in market capitalisation.
Ventia Services Group rose 12c or 4.04 per cent to $3.09 after listing in late November at $1.77.
NZ King Salmon Investments – making a $60m capital raising - continued its fall, losing 4c or 8 per cent to 46c after sitting at $1 on February 8.
Market leader Fisher and Paykel Healthcare was down 54c or 2.37 per cent to $22.26; Freightways declined 27c or 2.19 per cent to $12.05; Ebos Group was down 35c to $41.65; Restaurant Brands decreased 31c or 2.28 per cent to $13.29; and Pushpay Holdings shed 4c or 3.7 per cent to $1.04.
Contact Energy was up 10c to $8 after reporting a March increase in mass electricity and gas sales to $298GWh, from 277GWh in the same month last year. At April 11, South Island hydro storage was 75 per cent of mean and North Island was 149 per cent.
Mercury was unchanged at $5.90 after telling the market mass market customers declined from 327,000 to 324,000 and sales volumes decreased from 544GWh to 528GWh for the March quarter. Hydro generation was down 57GWh and geothermal generation was steady at 653GWh.
Other energy stocks Meridian was up 11c or 2.32 per cent to $4.85, and Trustpower shed 12c to $6.69.
Skellerup Holdings gained 16c or 2.78 per cent to $5.92; Napier Port was up 7c or 2.41 per cent to $2.98. Foley Wines rose 12c or 8.57 per cent to $1.52; Rakon increased 3c or 1.82 per cent to $1.68.
Among other decliners, NZME fell 7c or 4.12 per cent to $1.63; Serko lost 12c or 2.57 per cent to $4.55; Accordant Group declined 7c or 3.37 per cent to $2.01; Millennium & Copthorne Hotels New Zealand shed 7c or 2.76 per cent to $2.47; and Third Age Health Services was down 9c or 3.21 per cent to $2.71.
Hallenstein Brothers chief executive Jason Barrow, who joined as a buyer in 2012, has resigned and Hallenstein Glasson's share price was down 5c to $5.97. Briscoe Group was up 18c or 3.31 per cent to $5.93.
Kiwi Property is increasing its annual dividend to 5.6c a share, up from 5.3c, saying its diversified portfolio proved more resilient than expected to the financial impact of Omicron and red traffic light setting. Kiwi's share price was unchanged at $1.075.
New Zealand Oil & Gas gained 2c or 3.92 per cent to 53c after telling the market that exploration drilling is under way at the Palm Valley site, 120km west of Alice Springs in Australia.
Rua Bioscience, up 0.005c to 40c, has launched its first medicinal cannabis product, available on prescription, and distributed by CDC Pharmaceuticals.
Chatham Rock Phosphate rose 3.5c or 15.91 per cent to 25.5c after gaining Australian Foreign Investment Review Board consent to buy the Korella Mining Tenement in Queensland.
