An Air New Zealand 787-9 Dreamliner takes off from Auckland International Airport. Photo/Brett Phibbs
Keep you informed of the latest market movements, in association with the investment company Jarden
After a strong performance last week, all major US indices were trading lower
time of writing.
The S&P 500 fell 0.4%, the Nasdaq 0.3% and the Dow Jones Industrial Average 0.1% into the red.
Consumer Staples and Consumer Discretionary were the only sectors in the green at the time of writing, up 1.4% and 0.4% respectively.
On the other hand, energy and financials were the main detractors with declines of 3.1 and 1.3% respectively.
PerkinElmer Inc, a company focused on diagnostics and life science research, led the S&P up 6.0% at the time of writing. PerkinElmer has announced the divestiture of three business units in a US$2.45 billion deal.
Boeing also posted gains with a 5.6% rise in its share price after the outlook for the future build rate of its 787 jets rose. The company is still trading around 50.0% lower than pre-Covid.
Global Payments Inc finishes the top three with a jump of 4.8%.
Royal Caribbean Cruises posted the largest losses, down 10.7% to US$34.6 per share. The company announced that it plans to issue US$900 million in new debt.
Mining company Freeport-McMoran was also in the red with a 5.8% drop after missing consensus earnings estimates in its financial results.
Technical professional services firm Jacobs Engineering was the latest laggard after falling 5.7%.
This followed the announcement of their third quarter results, which showed a 7.7% increase in net sales and an increase in adjusted earnings per share of 13%.
Rest of the world
European markets also lost ground with the FTSE and CAC down 0.1 and 0.2% while the DAX remained stable.
In contrast, Asian markets all closed in the green. The Shanghai Composite, Nikkei and Hang Seng rose 0.2, 0.7 and 0.1% respectively.
The 10-year US Treasury rate continued its downward trajectory, losing another three basis points to 2.611%.
Gold and silver recorded gains, up 0.3% and 0.8% respectively.
Oil was in the red with a price drop of 4.9%. This brings oil to US$93.78 a barrel and represents a price drop of 24.0% from this year’s high.
Bitcoin and Ethereum retreated alongside the US market, down 3.6% and 4.8% respectively.
The NZX 50 started August in the green, up 0.3% to 11,525.9 points. This continued from July, when the index capitalization increased by 6.1%.
Infrastructure investment firm Infratil was the best performer in the index, rising 6.7% yesterday.
Together with its co-investors, the NZ Super Fund and the management team of Longroad Energy, they announced that MEAG, acting as the asset management arm for the Munich Re entities, has agreed to invest US$300 million to acquire a 12% stake in Longroad Energy. .
Infratil and the NZ Super Fund will also each invest an additional $100 million and will retain a stake of approximately 37%.
Retirement village operator Oceania Healthcare and retail firm The Warehouse Group rounded out yesterday’s top movers, rising 3.2% and 2.5% respectively.
Cancer diagnostics company Pacific Edge was the worst underperformer yesterday, falling 37.8% to -63.5% year-to-date.
The company announced that its Cx bladder cancer screening tests may not be reimbursed by Novitas, a major US health insurance company, if its proposed new coverage process is implemented as is. The decision on these changes is still pending.
Cinema technology company Vista Group International and fast-food company Restaurant Brands closed yesterday’s lowest moves, down 5.5% and 3.3%, respectively.
Both companies are expected to release their half-year results at the end of this month, on August 29.
The ASX 200 rose 0.7% yesterday to set a new 20-day high.
The sectors were mostly in the green with eight of the 11 closings up. Utilities rose 2.0%, energy 1.9% and health care 1.6%.
Conversely, information technology fell 0.4% and consumer discretionary fell 0.2%.
Lithium company Allkem was the best performer, rising 4.5%. Miner Lynas Rare Earths increased by 4.5% and Agribusiness Elders increased by 4.2%.
On the other hand, United Malt Group was the biggest laggard, down 17.2%.
It comes after the food and beverage ingredient supplier issued a business update in which it lowered expected underlying profit before interest, tax, depreciation and amortization to a range of AUD100 million at 108 million Australian dollars for FY22.
The company cited the reasons being the delay in expected improvement in the North American processing segment due to continued supply chain disruptions, higher than expected energy costs, and the cost and quality of fuel. source of domestic North American barley.
Network and service provider Megaport fell 14.4% and bookmaker Pointsbet Holdings lost 14.2%.
Westpac rose 0.7% yesterday. She announced the completion of the sale of Westpac Life Insurance Services to TAL Dai-ichi Life Australia.
The terms of the sale remained unchanged and Westpac expects to declare a total after-tax loss of approximately A$1.37 billion on the sale.
The latest ANZ Australian Job Ads data was released yesterday, which recorded a 1.1% month-on-month decline in July. This compares with a 1.4% month-on-month increase in June and ANZ noted that this may signal having passed the peak in job vacancies.
The Reserve Bank of Australia is expected to announce the latest exchange rate today at 2:30 p.m. AEST.
• For more information on the latest market movements, contact Jarden.
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