F&P Healthcare upgrade drags NZX50 higher as Trump’s tariffs linger

Fisher & Paykel Healthcare did the heavy lifting for the S&P/NZX 50 index as the medical device maker upgraded its earnings outlook, buoying the benchmark index on a day when US tariffs returning to the fore kept investors wary of riskier assets.

Tourism Holdings led the NZX50 higher after the rental campervan operator’s first-half result was well-received with a strong outlook and hike in the dividend, while broadband network operator Chorus also came in ahead of expectations.

Genesis Energy halted trading of its shares to let the institutions run their arm of a $400 million capital raising that has the backing of the government, coming hot on the heels of Contact Energy’s $525 million share sale.

And among the smaller companies, Comvita and Pacific Edge were both on the rise as the honey products maker delivered against its targets and said it’s got an investor interested in underwriting a capital raising at a premium to the share price, while the bladder cancer test maker got a positive response at a committee on regaining Centers for Medicare and Medicaid Services coverage in the US.