WELLINGTON: Stock markets across Asia followed Wall Street higher, boosted by better than expected US job figures and Euro zone deflation stoking expectations the European Central Bank (ECB) will embark on a quantitative easing (QE) programme, which would flow through to stock markets.
Air New Zealand climbed 2.2 per cent to $2.605, as falling oil prices cut its costs. Diligent Board Member Services rose 2.1 per cent to $5.36 and Trade Me Group gained two per cent to $3.62.
Argosy Property climbed 2.3 per cent to $1.135. DNZ Property Fund one per cent to $1.95, Property for Industry one per cent to $1.555 and Vital Healthcare Property Trust 1.9 per cent to $1.63.
New Zealand’s largest listed retailer Warehouse Group slipped 0.7 per cent to $2.89, continuing Wednesday’s decline after it slashed first-half earnings guidance, blaming a cold, wet spring and summer for poor seasonal sales.
Andrew Bascand, managing director of Harbour Asset Management said we are following the overnight lead, that’s the key thing it’s a bit of a relief rally.
The Kathmandu Holdings was the index’s worst performer in the day, dropping 3.5 per cent to $1.95. The outdoor goods retailer flagged weak sales in the lead up to Christmas.
