NZ shares climb as NZX50 gains 4.3 per cent in September quarter

Spark led the market higher, up 3.1 per cent to $4.05. Photo / File

New Zealand shares rose in the final day of the quarter, led higher by blue-chip stocks such as Spark New Zealand and Ryman Healthcare.

The S&P/NZX 50 gained 64.66 points or 0.7 per cent, to 9,351.06. Within the index, 28 stocks rose, 12 fell and 10 were unchanged. Turnover was $182 million.

The benchmark index rose 4.3 per cent in the quarter, following a 7.5 per cent gain in June. So far this year the NZX 50 is up 11 per cent, outperforming its peers across Asia.

"It's not bad - nowhere near as good as the previous quarter which was a very good performance for a three-month period," said Grant Williamson, a director at Hamilton Hindin Greene.

"We're just mucking around at historic highs - it will be interesting to see whether we make new highs in the new quarter."

Blue-chip stocks led the market higher today in the final session of the September quarter, which typically sees institutional investors adjusting their portfolios.

"There will be some squaring up of positions so we might see a little selling on Monday," Williamson said.

Ebos Group was the strongest performer in the September quarter, up 25 per cent to $22.46. That includes a 0.9 per cent gain today. Ryman Healthcare rose 2.6 per cent to $14 today, and has gained 17 per cent in the quarter. Spark led the market higher, up 3.1 per cent to $4.05 and climbed 8.4 per cent in the quarter.

Westpac Banking Corp gained 2.6 per cent to $30.95 and Australia & New Zealand Banking Group advanced 1.8 per cent to $30.90 after Royal commissioner Kenneth Hayne's interim report into the Australian banking sector didn't make any recommendations and instead argued for stronger enforcement of existing law.

Infratil rose 1.7 per cent to $3.565 after the company raised its earnings guidance on the performance of its Longroad Energy business in the US.

Mercury NZ increased 0.8 per cent to $3.365 after chief executive Fraser Whineray told shareholders the power companies are working to find options for customers struggling with their bills, and that government intervention needs to avoid harming the industry.

Fletcher Building gained 0.8 per cent to $6.54 after government data showed Auckland residential building permits were at an annual record in August.

A2 Milk Co fell 2.5 per cent to $11.26, continuing its decline since CEO Jayne Hrdlicka disclosed a share sale.

Outside the benchmark, Orion Health Group rose 0.9 per cent to $1.08. The software company held its annual meeting today where shareholders voted on whether to approve carving up the company and signing off on a capital return. The final results haven't been published but the proxies indicated it would get over the line.

Pyne Gould Corp was unchanged at 33 cents after indicating it planned to quit the NZX in favour of a listing in its home domicile of Guernsey.

Hallenstein Glass rose 4.1 per cent to $5.85 after affirming a 58 per cent gain in annual profit and saying sales rose 7.2 per cent in the first two months of trading in the new year.

Foley Family Winds was unchanged at $1.45 after extending its timeframe to complete its purchase of Mt Difficulty Wines.

Cavalier Corp was unchanged at 61 cents after confirming the sale of its stake in a wool scouring business for $13.5m. The company's board will be seeking an increase in the pool for directors' fees at its upcoming annual meeting.

AFT Pharmaceutical gained 0.9 per cent to $2.22 after saying its Maxigesic painkiller is now licensed in the Russian Federation. It expects sales to start in the 2020 financial year. It also secured new partners in Hong Kong and Taiwan.