Tourism shares see record high in New Zealand

Published on : Thursday, June 29, 2017

Tourism New ZealandNew Zealand shares surged today, led by Restaurant Brands New Zealand, while Tourism Holdings and Fisher & Paykel Healthcare hit record highs.

James Smalley, director at Hamilton Hindin Greene said the market had seen broad-based buying, with the benchmark index near record levels, though volumes were lower. Restaurant Brands led the index, up 3 per cent to $6.14, while Kathmandu Holdings gained 3 per cent to $2.06 and Sky Network Television rose 2.9 per cent to $3.53. Tourism Holdings rose 2.2 per cent to $4.20.

To quote Smalley, “It has been on a bit of a run recently, on pretty good volumes. If it gets up to $4.30, on an adjusted basis that’s the highest it has been since 1993 – we’re looking at a 24-year high. You’d have to be living under a rock to miss that tourism has taken over dairy as our biggest export earner. Investors are obviously thinking things are looking pretty good for the sector.” He added, “Those investors that had the courage to buy into the stock when it got sold down post the Trump election when there were concerns about production in Mexico, have done exceptionally well.”

Metro Performance Glass was the worst performer, down 0.7 per cent to $1.36. Kiwi Property Group fell 0.7 per cent to $1.415 and A2 Milk Co dipped 0.5 per cent to $4.03.


Leave a Reply

Your email address will not be published. Required fields are marked *


You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

arrow2Follow TTW
facebook-logo  twitter-logo  LinkedIn_logo  stumbleupon-logo   rss_logo 
ttw_blogger_logo  ttw_blogger_logo  ttw_blogger_logo


  • 02 WTM Latin America 2018
  • 03 IMEX 2018
  • 03 wtm-africa18
  • 05 itb-china 2018
  • 05 KITF 2018
  • 06 jharkhandtravelmart 2018
  • 07 Digital-Travel-2018
  • 08 ShanghaiWTF 18
  • 09 The hotel shows audiarabia 18
  • 10 hotelfair 2018
  • 11 Digital Travel 2018
  • 11 Hotelex-Shanghai 18
  • 13 aitf 2018
  • 30 PATA


Get our toolbar!
Review on