Tourism Holdings led the benchmark index higher, rising 4.4 per cent to $1.92 extending its gain this week to 6.1 per cent.
The rental campervan operator was savaged after downgrading its earnings guidance in May and data yesterday indicated the tourism sector will continue its slow recovery from the pandemic.
Among other companies exposed to tourism, Auckland International Airport rose 0.3 per cent to $7.60, and Air New Zealand increased 0.9 per cent to 54.5 cents.
The national airline today said chief corporate officer Mat Bolland will leave at the end of July as part of the company’s efforts to cut costs.
A2 Milk was among the major gainers, rising 3.7 per cent to $7.60. The milk marketing firm has gained 65 per cent this year, bouncing back from fears over the prospects in its biggest market of China, and McIntyre said the company’s expected to report a good second half later this year.
Its processing partner Synlait Milk was unchanged at 33.5 cents, having shed about 65 per cent this year as the company contends with a tough recapitalisation. Meanwhile, Fonterra Shareholders’ Fund units rose 1.7 per cent to $4.15.
Retailers were mixed after government data showed softer consumer spending on credit and debit cards in May. Michael Hill International jumped 5.6 per cent to 47 cents, KMD Holdings, which runs the Kathmandu and Rip Curl brands, rose 3.6 per cent to 43 cents, Warehouse Group climbed 2.7 per cent to $1.13, and Hallenstein Glasson advanced 1.9 per cent to $5.41.
Meanwhile, Briscoe Group fell 0.2 per cent to $4.19, restaurant operator Savor dropped 4.6 per cent to 21 cents, and fast food chain Restaurant Brands NZ declined 1.6 per cent to $3.05.
Tech companies led the gains in the US and in Australia, and NZ’s small number of firms followed suit, with Being AI up 7.9 per cent, or 0.6 of a cent, to 8.2 cents, Vista Group International advancing 2.6 per cent to $2.33, Gentrack rising 2.5 per cent to $9.99 and Serko climbing 2 per cent to $3.06.
Comvita was among the biggest decliners today, falling 4.9 per cent to $1.17. The honey products company has declined 15 per cent since a potential suitor decided not to proceed with a takeover bid.
SkyCity Entertainment extended its decline, falling 2.6 per cent to $1.50, with 1.7 million shares traded. The casino operator this week said the state regulator resumed its review into its Adelaide operation.
Spark New Zealand was the most heavily traded company, with 2.3 million shares changing hands as the broadband and mobile retailer rose 1.1 per cent to $4.07. Arvida Group was unchanged at 91 cents with 1.9 million shares traded, and Precinct Properties NZ gained 1.7 per cent to $1.18 on a volume of 1.6 million.
Ryman Healthcare increased 0.8 per cent to $3.74 on a volume of 1.4 million shares. The newly formed FirstCape fund manager emerged as a substantial shareholder of the company today with a 5 per cent stake.
Napier Port shed rights to its 3 cent dividend today. The shares rose 0.4 per cent to $2.48.
NZME, the publisher of the NZ Herald and BusinessDesk, rose 2.3 per cent to 90 cents.
Rival news organisation Newshub told staff its website will be closed down in the coming months as it migrates its content to Stuff, which start producing the 6pm TV news bulletin next month.