Genesis Energy also said talks are continuing with market participants about keeping a third coal- and gas-powered Rankine at Huntly going until 2035.
Shares in Genesis rose 1.39% to $2.19, up 3c with 251,023 shares trading hands to the value of $548,849.76.
Salt Funds Management managing director Matt Goodson said Genesis did tend to benefit given its ownership of the Huntly operation.
“Genesis came out with a pretty good quarterly report, in contrast to the other gentailers who’ve been struggling a bit with a lack of water in the lakes,” Goodson said.
Meridian did manage to have a positive day, with its share price rising 2.53% to $5.68, up 14c with 2,744,191 shares trading hands to the value of $15,584,664.79.
Pacific Edge also had a lot of movement today, with its share price falling by 7.32% to $0.11, with 257,628 shares trading hands to the value of $30,423.60.
Goodson said the market will be looking to the decision out tomorrow on whether Pacific Edge will lose coverage under Medicare and Medicaid in the US.
“That would be a ludicrous outcome, because they’ve been included in the American Neurological Association guidelines with quite helpful wording.
“We don’t know if they’ll lose coverage or whether CMS [Centres for Medicare and Medicaid Services] has been waiting for the outcome of this court case, and the court said they lacked jurisdiction to try it.”
Elsewhere, Mercury NZ’s share price rose 1.77% to $5.76, up 10c with 4,686,055 shares trading hands to the value of $26,984,306.51.
SkyCity Entertainment Group’s share price rose 1.82% to $1.12, up 2c with 431,306 shares trading hands to the value of $484,754.21.
Goodson said a lot of movements today were seemingly random, although that tends to happen with a short week.
Asian markets
Asian markets were mixed today after President Donald Trump said he had “no intention” of firing the US central bank head and made conciliatory comments on his trade war with China.
Trump’s attacks on the Federal Reserve for not cutting interest rates had raised fears that he would fire its “Mr Too Late” chief, Jerome Powell, in a major blow to its independence.
Trump’s rollback on Wednesday local time boosted Wall Street, as did his comments that US tariffs on China were “very high” and would “come down substantially”.
The broad-based S&P 500 finished 1.7% higher on Wednesday. European stocks also rallied, with Frankfurt gaining more than 3%.
Trump could also exempt car parts from some tariffs on China alongside those on steel and aluminium in a “destacking”, the Financial Times reported.
Tokyo rose more than 1%, while Sydney added 0.6% and Shanghai 0.3%.
However, Seoul fell after official data showed South Korea’s economy unexpectedly contracted 0.1% in the first three months of 2025.
– Additional reporting AFP
Tom Raynel is a multimedia business journalist for the Herald, covering small business, retail and tourism.
