Main said the local market, however, lacked real conviction and there was an overriding sense of cautiousness – especially what company earnings will look like post-Christmas trading.
Synlait Milk, down 8c or 2.24 per cent to $3.49, warned that its half-year net profit will be lower than the previous period because delayed shipments of ingredients resulted in a 45 per cent fall in sales volumes, and costs increased.
Its half-year net debt will be higher than forecast but Synlait said its full-year guidance was unchanged due to an increase in advanced nutrition, consumer and foodservice volumes.
The Colonial Motor Company, a consistent performer, told the market its result for the six months ending December will be lower than last year’s, though still solid and ahead of the $18.2m reported for the same period in 2020. Colonial’s share price declined 19c or 1.96 per cent to $9.50.
On Wall Street, the Dow Jones Industrial Average increased 1.6 per cent to 33,376.48 points; S&P 500 was up 1.49 per cent to 3878.44; and Nasdaq Composite gained 1.54 per cent to 10,709.
The three indices are on pace to snap a three-year winning streak and post their worst year since 2008 – Dow Jones is presently down 8.15 cent, S&P 18.63 per cent and Nasdaq falling 31.55 per cent.
Bellwether stocks Nike rose 12.18 per cent to US$115.78 ($183) after beating Wall Street’s quarterly earnings and revenue estimates; and FedEx was up 3.43 per cent to US$169.99 on better-than-expected earnings per share and a plan to cut costs.
Across the Tasman, the S&P/ASX 200 Index was up 0.53 per cent to 7151.3 points at 6pm NZ time.
At home, Fisher and Paykel Healthcare was up 24c to $22.05; Auckland International Airport increased 17c or 2.14 per cent to $8.11; Freightways rose 38c or 3.95 per cent to $10; a2 Milk gained 13c or 1.83 per cent to $7.23; Spark added 5c to $5.365; and Chorus was up 11.5c to $8.445.
The energy sector was mixed. Mercury was up 7c to $5.52; Meridian gained 4c to $5.25; Contact increased 18c or 2.33 per cent to $7.90; Genesis shed 6c or 2.27 per cent to $2.58; Vector was down 10c or 2.35 per cent to $4.15; and Manawa decreased 5c to $4.90.
Vista Group increased 6c or 4.2 per cent to $1.49 after telling the market that longstanding client Cineplex, one of Canada’s leading entertainment companies, will be moving to the Vista Cloud cinema management platform. Cineplex operates more than 170 movie theatres.
The Warehouse Group received a Santa present with an 8c or 2.91 per cent gain to $2.83. Fellow retailers Hallenstein Glasson was down 7c to $5.30; and Briscoe Group was up 4c to $4.64.
Restaurant Brands gained 14c or 2.39 per cent to $6; Vulcan Steel collected 17c or 1.96 per cent to $8.85; Accordant Group increased 5c or 3.03 per cent to $1.70; Fonterra Shareholders’ Fund was up 6c or 1.85 per cent to $3.30; and Gentrack improved 6c or 2.33 per cent to $2.64.
Oceania Healthcare recovered 3c or 4 per cent to 78c; Napier Port was up 5c to $2.90; Ventia Services increased 5c or 1.89 per cent to $2.70; Pacific Edge rebounded 2.5c or 5.26 per cent to 50c; and Winton Land added 5c or 2.99 per cent to $1.72.
Ebos Group was down 53c to $43; Ryman Healthcare shed 7c to $5.63; Move Logistics declined 2c or 1.87 per cent to $1.05; Tourism Holdings decreased 5c to $3.50; and Green Cross Health fell 6c or 4.32 per cent to $1.33.
Task Group (formerly Plexure) declined 2c or 5.13 per cent to 37c; Steel & Tube was down 2c to $1.26; Radius Residential Care decreased 2.5c or 8.47 per cent to 27c; PaySauce shed 1.5c or 5.08 per cent to 28c; and Black Pearl Group was down 7c or 11.67 per cent to 53c.
Cannasouth, gaining 1.5c or 5.26 per cent to 30c, is selling its manufacturing subsidiary Midwest Pharmaceuticals to Harker Herbal Products for $2.2m following its merger with Eqalis Group.
Booster Innovation Fund, up 0.007c to $1.435, has added animal health IT start-up MASCO and early-stage medical technology company Opum Technologies, formed in 2016, to its portfolio, with total cash investment of $500,000.
