Blue chips out in force as NZX50 surges for a second day
New Zealand’s S&P/NZX 50 index rose for a second day with blue chips Fisher & Paykel Healthcare, Ebos Group, Meridian Energy and Mercury NZ among those pacing the benchmark higher in an upbeat day across Asia, with Australia’s S&P/ASX 200 index hitting a record.
Fletcher Building led the NZX50 higher with the building materials firm getting a mixed review from brokers after its largely flat first-half result on Wednesday, while apple exporter Scales Corp rallied on an upgrade to its annual earnings outlook.
Earnings season was a mixed bag as Auckland International Airport rallied later in the day as an improving outlook for passenger growth prompted it to lift the bottom end of its annual earnings guidance, while SkyCity Entertainment Group’s expectedly soft result saw it at the bottom of the leaderboard.
And Fonterra Cooperative Group’s farmer-shareholders overwhelmingly voted in favour of the $3.2 billion capital return from the proceeds of selling the Mainland consumer business to France’s Lactalis.
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