New Zealand equities increase; Auckland International Airport beats a record

New Zealand equities rose quietly as investors prepared for a series of profits next week. Infratil entered into trading for the first tranche of a $ 400 million equity round.

The S & P / NZX 50 index rose 3.81 points, or 0.04%, to 10,180.80. Within the index, 30 stocks rose, 14 fell and six remained unchanged. Revenues reached $ 98.9 million, with only four shares traded on volumes greater than one million shares.

The financial results season of March and September accelerates next week with a dozen scheduled companies. New Zealand's low interest rate environment continues to create a downward wind for investors, as does an overabundance of bond and maturity repayments to be reinvested.

The Australian federal elections this weekend have also encouraged investors to stay out of business and wait to see whether the Liberal-National coalition is fired or whether the Australian Labor Party is taking over treasure posts.

Peter McIntyre, investment advisor at Craigs Investment Partners, said that a large number of local investors were distracted by the good results of Xero yesterday, the software company listed at ASX. It remains largely owned and the local market is relatively calm today. Xero was up 2.2% at the end of the session on ASX, at AUD 61.50, which adds to the 11% gain recorded yesterday.

"Next week will be interesting, especially with the Australian elections," he said. "The focus will be on the currency and what our cross rate does."

Infratil Shares were halted at $ 4.45 today for a $ 100 million investment from institutional investors at $ 4 a share. The company will then raise $ 300 million as part of a one-for-one capital increase of 7.46 to fund its share in the $ 3.4 billion acquisition of Vodafone New Zealand. The new shares will also be entitled to the final dividend of 11 cents declared in the annual result of today.

McIntyre said the result was well reported and that all attention was focused on raising capital.

NZX led the market up, up 1.9% to $ 1.09 on a volume of 417,000 shares, more than its average of 90 days out of 269,000. Sky Network Television increased by 1.7% to $ 1.23 and Vector increased 1.6% to $ 3.76.

Spark New Zealand was the most traded stock on 4.2 million shares, lower than its usual volume of 5.8 million. It rose 0.4% to $ 3,755.

Kiwi Property Group, which reports Monday, rose 0.3 percent to $ 1.535 on a volume of 1.4 million shares, while Goodman Property Trust, which reported this week, rose 0.3% to $ 1.805 per million units.

Auckland International Airport hit a record $ 8.625, ending the day at $ 8.57 on a volume of 1.1 million shares. The airport operator reported a number of passengers unchanged in March.

Restaurant Brands New Zealand recorded the largest decline of the day, down 3.6% to $ 8.87 on a volume of 63,000 shares, less than half of its average of 170,000 days over 90 days. Union workers at the fast food operator will be on strike this weekend.

Double list Australian and New Zealand banking group down 3.1% to $ 27.25. The reserve bank has censored the local branch of the Australian bank and has lost its accreditation allowing it to use an internal risk model to define the capital requirements.

Westpac Banking Corp was down 1.3 percent at $ 26.80, while much smaller rival Holdings of the Heartland Group increased by 0.6% to 1.58 dollar.

SeaDragon remained unchanged at 0.2 cents on 5.2 million shares after shareholders approved a series of resolutions to raise $ 4 million via a convertible note from Director Mark Stewart's Pescado unit . The financing line has eliminated the threat of liquidation for the moment.

PGG Wrightson remained unchanged at 52 cents on a volume of 1.2 million shares, more than five times its 90-day average of 262,000.

Obligations 2025 of the Fonterra cooperative group paying an annual interest of 4.15% was the most traded debt on a volume of 1.8 million. The bonds closed at a yield of 3.18%, down 1 basis point.

the 2025 Obligations of the Local Government Finance Agency 2.75% traded at a yield of 2.15%, down 1 basis point from a volume of 1.2 million notes.