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The New Zealand market (NZX 50 Index, -0.7%) fell on Monday with investors concerned about the direction US and European equities will take this week.  Heavyweights Fisher and Paykel Healthcare (-2.6%) and Mainfreight (-1.2%) led the market down, with the former, as well as Pacific Edge (-3.2%) contributing to Heathcare stocks (-1.4%) declining the most on the day.

Find below a link to our “Guide to Markets” summary for Q3 earnings, focusing on US equities. It’s a “one stop” sheet with our recommendations for the US equities we currently cover, alongside our commentary on each company and the quarter overall in markets.

The New Zealand market (NZX 50 Index, -0.5%) fell on Thursday, despite a few favourable earnings reports.  Mainfreight (-1.9%) failed to advance after announcing its half-year financial results to 30 September 2022, the strong result pre-released to the market. Revenue climbed +32.0% (or $729 million) to $3 billion and an interim dividend of $0.85 per share (payable on 16 December) was announced. The downside gleaned from the report is the company note that they expect a “moderation” in revenue from its Air and Ocean division in line with the decline in sea freight rates. 

The New Zealand market (NZX 50 Index, -0.1%) fell marginally late on Wednesday, after spending most of the day in positive territory. Consumer Discretionary (+0.8%) led sectors after data showed that credit card spending stays elevated, rising 1% in October, driven by spending on durables and consumables

The New Zealand market (NZX 50 Index, -1.2%) was dragged down by Fletcher Building (-3.7%) after its Australian counterpart James Hardie Industries (-13.7%) lowered its 2023 earnings forecast in the face of a slowing housing market.  Other heavyweights down on the day included Freightways (-3.7%) and Fisher and Paykel Healthcare (-0.9%), tempered by the rally in A2 Milk (+4.1%). 

The New Zealand market (NZX 50 Index, +0.5%) rose on Monday with some companies set to benefit from China relaxing its zero-covid policy performing the best. Auckland International Airport (+2.6%) and Air New Zealand (+0.6%) among the gainers. However, gains were muted due to the reports being unconfirmed. 

The New Zealand market (NZX 50 Index, +0.4%) moved slightly higher on Friday. Fisher & Paykel Healthcare (+0.8%) recouped some of its –3.5% loss on Thursday. At the same time, A2 Milk (-1.5%) pared some of its +4.2% gain from Thursday, after it announced that it had secured FDA approval to sell infant formula into the United States. 

The New Zealand market (NZX 50 Index, -0.9%) was dragged down by losses in heavyweights Fisher & Paykel Healthcare (-3.5%), Infratil (-2.9%), and Mainfreight (-2.7%).

The New Zealand market (NZX 50 Index, -0.3%) edged down slightly on Wednesday. Several stocks gave up bigger gains but still closed higher, including Move Logistics (+5.5%) and Pacific Edge (+1.2%), which peaked at ~10% and ~5%, respectively. NZ King Salmon (+7.1%) reversed Tuesday’s loss of -8.5% after its Chief Executive of 13 years resigned.