“Meridian’s highlights for the quarter included total inflows at 114 per cent of historical averages, but 27 per cent lower than last year. Generation was 1.7 per cent lower but at a 91.4 per cent higher average price,” he said.
“Mercury also noted higher national inflows while demand was 0.5 per cent higher for the quarter relative to last year, primarily driven by urban cities and partially offset by lower industrial demand. "
Mercury edged down 2 cents or 0.3 per cent to $6.13, Meridian Energy fell 5 cents or 1 per cent to $5.15 and Genesis Energy was flat at $2.42. Manawa Energy fell 7 cents or 1.5 per cent to $4.51 and Contact Energy was down 7 cents or 0.9 per cent to $7.91. Auckland International Airport ended the day flat at $7.92 per share. The airport held its annual meeting and told BusinessDesk it isn’t expecting a change in government to negatively affect the airport’s plans for the future.
The 2024 financial year guidance for the country’s biggest airport remained unchanged – but the airport company says it is expecting a 29 per cent increase in flight capacity between November and March next year.
Chief executive Carrie Hurihanganui said the airport had an underlying profit after tax guidance of between $260m and $280m for the 2024 financial period.
Air NZ’s share price was down 1.5 cents or 2.1 per cent to 68.5 cents
Fisher & Paykel Healthcare was up 22 cents or 1.1 per cent to $21.13. The healthcare wholesaler told the market yesterday that it had launched its sleep apnea Solo mask in NZ and Australia.
Fletcher Building managed to edge up a little, after falling over 10 per cent yesterday when the stock was taken out of its trading halt. The building firm ended the day up 5 cents or 1.2 per cent to $4.38.
Port of Tauranga edged down 6 cents or 1.1 per cent to $5.68. Fraser Whineray – who used to be Fonterra’s chief operating officer – was appointed to the port’s board today.
Cinema tech company Vista Group also traded downwards, falling 5 cents or 3.5 per cent to $1.37.
The NZ dollar was trading at 59.06 US cents at 3pm in Wellington, the same as Monday. The trade-weighted index was at 70.22, from 70.34 on Monday.