Weekly Moves
  • SKYCITY Entertainment Group
  • $1.89
  • 8.00%
  • Ebos Group
  • $37.43
  • 6.94%
  • Fisher & Paykel Healthcare
  • $23.81
  • 6.87%
  • The Warehouse Group
  • $1.78
  • 4.71%
  • Mercury NZ
  • $6.26
  • 3.30%
  • Vista Group International
  • $1.37
  • -4.20%
  • Investore Property
  • $1.00
  • -4.76%
  • Heartland Group
  • $1.59
  • -4.79%
  • Serko
  • $4.15
  • -5.47%
  • Arvida Group
  • $0.98
  • -8.41%

Yovich & Co. Market Update - 24 July 2017.

Jarrod Goodall

by Jarrod Goodallpublished 24-07-2017

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Market Themes

  • Another record high was reached for the NZX Gross Index, with growth companies like Serko (SKO.nz), EROAD (ERD.nz) and Trilogy (TIL.nz) leading the market higher.

  • The political landscape is starting to heat up as the election on 23 September 2017 gets closer. At this early stage the markets have not been too concerned about a change so the assumption is that it will be a National lead Government without any major change to the direction that the economy is taking.

  • A switch from the Mining stocks back to the Financials has seen the market in Australia trade sideways over the past month.

  • Motoring stocks such as BMW, Daimler and Volkswagen fell last week as Tesla rolled out the first Model 3 from the production line. This saw the export weighted DAX index slide further since the highs reached in June.

  • The NASDAQ index has surged ahead after consolidating in June.

  • The Kiwi remained strong against the Greenback and is trading close to the ceiling of the range over the past 2 years. 

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