NZ Herald
  • Home
  • Latest news
  • Herald NOW
  • Video
  • New Zealand
  • Sport
  • World
  • Business
  • Entertainment
  • Podcasts
  • Quizzes
  • Opinion
  • Lifestyle
  • Travel
  • Viva
  • Weather

Subscriptions

  • Herald Premium
  • Viva Premium
  • The Listener
  • BusinessDesk

Sections

  • Latest news
  • New Zealand
    • All New Zealand
    • Crime
    • Politics
    • Education
    • Open Justice
    • Scam Update
  • Herald NOW
  • On The Up
  • World
    • All World
    • Australia
    • Asia
    • UK
    • United States
    • Middle East
    • Europe
    • Pacific
  • Business
    • All Business
    • MarketsSharesCurrencyCommoditiesStock TakesCrypto
    • Markets with Madison
    • Media Insider
    • Business analysis
    • Personal financeKiwiSaverInterest ratesTaxInvestment
    • EconomyInflationGDPOfficial cash rateEmployment
    • Small business
    • Business reportsMood of the BoardroomProject AucklandSustainable business and financeCapital markets reportAgribusiness reportInfrastructure reportDynamic business
    • Deloitte Top 200 Awards
    • CompaniesAged CareAgribusinessAirlinesBanking and financeConstructionEnergyFreight and logisticsHealthcareManufacturingMedia and MarketingRetailTelecommunicationsTourism
  • Opinion
    • All Opinion
    • Analysis
    • Editorials
    • Business analysis
    • Premium opinion
    • Letters to the editor
  • Politics
  • Sport
    • All Sport
    • OlympicsParalympics
    • RugbySuper RugbyNPCAll BlacksBlack FernsRugby sevensSchool rugby
    • CricketBlack CapsWhite Ferns
    • Racing
    • NetballSilver Ferns
    • LeagueWarriorsNRL
    • FootballWellington PhoenixAuckland FCAll WhitesFootball FernsEnglish Premier League
    • GolfNZ Open
    • MotorsportFormula 1
    • Boxing
    • UFC
    • BasketballNBABreakersTall BlacksTall Ferns
    • Tennis
    • Cycling
    • Athletics
    • SailingAmerica's CupSailGP
    • Rowing
  • Lifestyle
    • All Lifestyle
    • Viva - Food, fashion & beauty
    • Society Insider
    • Royals
    • Sex & relationships
    • Food & drinkRecipesRecipe collectionsRestaurant reviewsRestaurant bookings
    • Health & wellbeing
    • Fashion & beauty
    • Pets & animals
    • The Selection - Shop the trendsShop fashionShop beautyShop entertainmentShop giftsShop home & living
    • Milford's Investing Place
  • Entertainment
    • All Entertainment
    • TV
    • MoviesMovie reviews
    • MusicMusic reviews
    • BooksBook reviews
    • Culture
    • ReviewsBook reviewsMovie reviewsMusic reviewsRestaurant reviews
  • Travel
    • All Travel
    • News
    • New ZealandNorthlandAucklandWellingtonCanterburyOtago / QueenstownNelson-TasmanBest NZ beaches
    • International travelAustraliaPacific IslandsEuropeUKUSAAfricaAsia
    • Rail holidays
    • Cruise holidays
    • Ski holidays
    • Luxury travel
    • Adventure travel
  • Kāhu Māori news
  • Environment
    • All Environment
    • Our Green Future
  • Talanoa Pacific news
  • Property
    • All Property
    • Property Insider
    • Interest rates tracker
    • Residential property listings
    • Commercial property listings
  • Health
  • Technology
    • All Technology
    • AI
    • Social media
  • Rural
    • All Rural
    • Dairy farming
    • Sheep & beef farming
    • Horticulture
    • Animal health
    • Rural business
    • Rural life
    • Rural technology
    • Opinion
    • Audio & podcasts
  • Weather forecasts
    • All Weather forecasts
    • Kaitaia
    • Whangārei
    • Dargaville
    • Auckland
    • Thames
    • Tauranga
    • Hamilton
    • Whakatāne
    • Rotorua
    • Tokoroa
    • Te Kuiti
    • Taumaranui
    • Taupō
    • Gisborne
    • New Plymouth
    • Napier
    • Hastings
    • Dannevirke
    • Whanganui
    • Palmerston North
    • Levin
    • Paraparaumu
    • Masterton
    • Wellington
    • Motueka
    • Nelson
    • Blenheim
    • Westport
    • Reefton
    • Kaikōura
    • Greymouth
    • Hokitika
    • Christchurch
    • Ashburton
    • Timaru
    • Wānaka
    • Oamaru
    • Queenstown
    • Dunedin
    • Gore
    • Invercargill
  • Meet the journalists
  • Promotions & competitions
  • OneRoof property listings
  • Driven car news

Puzzles & Quizzes

  • Puzzles
    • All Puzzles
    • Sudoku
    • Code Cracker
    • Crosswords
    • Cryptic crossword
    • Wordsearch
  • Quizzes
    • All Quizzes
    • Morning quiz
    • Afternoon quiz
    • Sports quiz

Regions

  • Northland
    • All Northland
    • Far North
    • Kaitaia
    • Kerikeri
    • Kaikohe
    • Bay of Islands
    • Whangarei
    • Dargaville
    • Kaipara
    • Mangawhai
  • Auckland
  • Waikato
    • All Waikato
    • Hamilton
    • Coromandel & Hauraki
    • Matamata & Piako
    • Cambridge
    • Te Awamutu
    • Tokoroa & South Waikato
    • Taupō & Tūrangi
  • Bay of Plenty
    • All Bay of Plenty
    • Katikati
    • Tauranga
    • Mount Maunganui
    • Pāpāmoa
    • Te Puke
    • Whakatāne
  • Rotorua
  • Hawke's Bay
    • All Hawke's Bay
    • Napier
    • Hastings
    • Havelock North
    • Central Hawke's Bay
    • Wairoa
  • Taranaki
    • All Taranaki
    • Stratford
    • New Plymouth
    • Hāwera
  • Manawatū - Whanganui
    • All Manawatū - Whanganui
    • Whanganui
    • Palmerston North
    • Manawatū
    • Tararua
    • Horowhenua
  • Wellington
    • All Wellington
    • Kapiti
    • Wairarapa
    • Upper Hutt
    • Lower Hutt
  • Nelson & Tasman
    • All Nelson & Tasman
    • Motueka
    • Nelson
    • Tasman
  • Marlborough
  • West Coast
  • Canterbury
    • All Canterbury
    • Kaikōura
    • Christchurch
    • Ashburton
    • Timaru
  • Otago
    • All Otago
    • Oamaru
    • Dunedin
    • Balclutha
    • Alexandra
    • Queenstown
    • Wanaka
  • Southland
    • All Southland
    • Invercargill
    • Gore
    • Stewart Island
  • Gisborne

Media

  • Video
    • All Video
    • NZ news video
    • Herald NOW
    • Business news video
    • Politics news video
    • Sport video
    • World news video
    • Lifestyle video
    • Entertainment video
    • Travel video
    • Markets with Madison
    • Kea Kids news
  • Podcasts
    • All Podcasts
    • The Front Page
    • On the Tiles
    • Ask me Anything
    • The Little Things
  • Cartoons
  • Photo galleries
  • Today's Paper - E-editions
  • Photo sales
  • Classifieds

NZME Network

  • Advertise with NZME
  • OneRoof
  • Driven Car Guide
  • BusinessDesk
  • Newstalk ZB
  • Sunlive
  • ZM
  • The Hits
  • Coast
  • Radio Hauraki
  • The Alternative Commentary Collective
  • Gold
  • Flava
  • iHeart Radio
  • Hokonui
  • Radio Wanaka
  • iHeartCountry New Zealand
  • Restaurant Hub
  • NZME Events

SubscribeSign In
Advertisement
Advertise with NZME.
Home / Business

NZ shares taper off in strong June quarter

By Paul McBeth
BusinessDesk·
29 Jun, 2018 06:23 AM3 mins to read

Subscribe to listen

Access to Herald Premium articles require a Premium subscription. Subscribe now to listen.
Already a subscriber?  Sign in here

Listening to articles is free for open-access content—explore other articles or learn more about text-to-speech.
‌
Save

    Share this article

The S&P/NZX 50 index fell 55.66 points, or 0.6 per cent.

The S&P/NZX 50 index fell 55.66 points, or 0.6 per cent.

New Zealand shares ran out of puff in the final day of the June quarter, which has been the strongest quarterly performance in more than two years. Summerset Group Holdings and Ebos Group declined and Westpac Banking Corp gained.

The S&P/NZX 50 index fell 55.66 points, or 0.6 per cent, to 8,943.13. Within the index, 29 stocks declined, 11 gained and 10 were unchanged. Turnover was $176 million.

The benchmark index ended the quarter on a down note, although it still managed to finish its strongest three-month run since late 2015 with an 8 per cent quarterly gain. During that period, the NZX50 touched new records but failed to close above 9,000.

Grant Williamson, a director at Hamilton Hindin Greene in Christchurch, said New Zealand's market turned around after a lacklustre first quarter in a widespread gain spanning both growth-orientated stocks and defensive utility-type yield investments.

"After the first quarter of 2018 we thought this is going to be a tough year, but what a turnaround we've seen this quarter," he said. "Any losses experienced in the first quarter are more than taken care of."

Advertisement
Advertise with NZME.
Advertisement
Advertise with NZME.

Synlait Milk was the best performer in the quarter, jumping 37 per cent to $11.44, while Kathmandu Holdings climbed 21 per cent to $2.91, after delivering upbeat earnings guidance. The stocks fell 0.5 per cent and 1.7 percent today, respectively.

Ebos was the worst performer today, down 2.5 per cent to $17.95, ending the quarter up 0.1 per cent, while Summerset fell 2.2 per cent to $7.65, trimming its quarterly gain to 9.9 per cent.

Fletcher Building declined 0.7 per cent to $6.95 after selling its stake in the Sims Pacific Metals recycling unit to partner Sims Metal Management for $42m.

Advertisement
Advertise with NZME.

Precinct Properties New Zealand fell 1.5 per cent to $1.35 after the real estate investor sold its share in Auckland's ANZ Centre for $181m.

New Zealand Refining dropped 1.2 per cent to $2.44 after the refinery operator said the hydrocracker leak will cost it $5m-to-$7m, and will resume production of on-specification fuels from the middle of next week.

Gentrack declined 1.5 per cent to $7.12 after the utilities software developer said some contracts close to being finalised will add to earnings in the September 2019 year.

NZX slipped 0.9 per cent to $1.13 after attracting a new issuer to the debt market. Lines company WEL Networks plans to sell up to $150m of five-year bonds, listing them in August.

Discover more

Opinion

Brian Fallow: Wile E. Coyote and the debt cliff

28 Jun 05:00 PM
Business

Big Read: Orion Health's fading star

28 Jun 05:00 PM
Business

NZ dollar touches fresh 2-year low

28 Jun 05:08 AM
Business

Dollar head for 1.9% weekly fall

29 Jun 06:20 AM

Spark New Zealand dropped 1.1 per cent to $3.73, Auckland International Airport declined 1.3 per cent to $6.78 and a2 Milk fell 1.7 per cent to $11.46.

The dual-listed banks gained, with Westpac the best performer on the index, up 1.8 per cent to $32.10 and Australia & New Zealand Banking Group rising 0.3 per cent to $30.99.

Fonterra Shareholders Fund units rose 1.7 percent to $5.44 while Mainfreight advanced 1 per cent to $27.80.

Exporters Comvita and Sanford benefitted from a weaker currency as the kiwi hit a two-year low, gaining 0.7 per cent to $5.89 and 0.3 per cent to $7.68 respectively.

Outside the benchmark index, Smiths City Group sank 7.1 per cent to 39 cents after reporting a bigger trading loss than forecast and suspended dividend payments.

Save

    Share this article

Latest from Business

Premium
Shares

Market close: 'Green shoots' for Ryman – positive reaction to earnings outlook

11 Jul 06:25 AM
Premium
Retail

Push Gummies halts sales amid creatine content controversy

11 Jul 06:20 AM
Property

Watch: 'My raging backyard river' - North Shore homeowner fears stormwater torrent

11 Jul 06:00 AM

Audi offers a sporty spin on city driving with the A3 Sportback and S3 Sportback

sponsored
Advertisement
Advertise with NZME.

Latest from Business

Premium
Market close: 'Green shoots' for Ryman – positive reaction to earnings outlook

Market close: 'Green shoots' for Ryman – positive reaction to earnings outlook

11 Jul 06:25 AM

Rural services group PGG Wrightson rose 14c or 6.9% to $2.17.

Premium
Push Gummies halts sales amid creatine content controversy

Push Gummies halts sales amid creatine content controversy

11 Jul 06:20 AM
Watch: 'My raging backyard river' - North Shore homeowner fears stormwater torrent

Watch: 'My raging backyard river' - North Shore homeowner fears stormwater torrent

11 Jul 06:00 AM
Watch: Shore homeowner fears raging backyard river, council says it can’t pipe stormwater

Watch: Shore homeowner fears raging backyard river, council says it can’t pipe stormwater

Gold demand soars amid global turmoil
sponsored

Gold demand soars amid global turmoil

NZ Herald
  • About NZ Herald
  • Meet the journalists
  • Newsletters
  • Classifieds
  • Help & support
  • Contact us
  • House rules
  • Privacy Policy
  • Terms of use
  • Competition terms & conditions
  • Our use of AI
Subscriber Services
  • NZ Herald e-editions
  • Daily puzzles & quizzes
  • Manage your digital subscription
  • Manage your print subscription
  • Subscribe to the NZ Herald newspaper
  • Subscribe to Herald Premium
  • Gift a subscription
  • Subscriber FAQs
  • Subscription terms & conditions
  • Promotions and subscriber benefits
NZME Network
  • The New Zealand Herald
  • The Northland Age
  • The Northern Advocate
  • Waikato Herald
  • Bay of Plenty Times
  • Rotorua Daily Post
  • Hawke's Bay Today
  • Whanganui Chronicle
  • Viva
  • NZ Listener
  • Newstalk ZB
  • BusinessDesk
  • OneRoof
  • Driven Car Guide
  • iHeart Radio
  • Restaurant Hub
NZME
  • About NZME
  • NZME careers
  • Advertise with NZME
  • Digital self-service advertising
  • Book your classified ad
  • Photo sales
  • NZME Events
  • © Copyright 2025 NZME Publishing Limited
TOP