Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksMGR.L Share News (MGR)

  • There is currently no data for MGR

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Australia shares gain for first day in 4; NZ also up

Wed, 04th Apr 2018 07:50

* Aussie and NZ shares of a2 Milk among top gainers on bothbenchmarks

* CBA, NAB and Westpac reverse trend to end higher(Updates to close)

By Susan Mathew

April 4 (Reuters) - Australian shares snapped a three-daylosing streak to end higher on Wednesday as real estate andconsumer stocks perked up after positive home building andretail sales data.

The S&P/ASX 200 index closed up 0.2 percent, or 9.5points, at 5,761.4.

Investors bought real estate stocks after data showed thatthough approvals to build new homes eased 6.2 percent inFebruary, overall home building is holding up better than manyanalysts had expected, with strength showing through in detachedhouses where approvals hit their highest in almost two years.

Mall operator stocks Scentre Group and propertydeveloper Mirvac Group rose 2.4 percent and 1.4percent, respectively.

Consumer stocks took heart from data showing that Australianretail sales rebounded, beating expectations, a sign thatconsumers may be coming out of the doldrums and contribute toeconomic growth.

Infant formula maker Bellamy's Australia, up 7.1percent, and dairy company a2 Milk, up 5.1 percent,were the top gainers on the benchmark.

Three of the 'Big four' were back in the black, after havingfallen earlier in the session, ending 0.3 percent to 0.8 percenthigher, while ANZ continued to fall.

On the ASX All Ordinaries index, Blue SkyAlternative Investments was the worst performer, down18.6 percent, as it resumed trading after U.S. short-sellerGlaucus Research Group claimed it had overstated its size,exaggerated performance and over-valued assets.

New Zealand's benchmark S&P/NZX 50 index fell 0.8percent, or 68.15 points, to finish the session at 8,398.08.

Dairy companies led gains with Synlait Milk rising 4.6percent and a2 Milk gaining 3.6 percent.

Air New Zealand climbed 3.6 percent. The airlinecompany said it would not renew its alliance with VirginAustralia, covering flights between the two countries, ending a7-year alliance between the two companies.

Virgin Australia shares ended 4.4 percent lower after theannouncement.(Reporting by Susan Mathew in Bengaluru; Editing by KimCoghill)

More News
24 Jan 2014 10:11

Miton Group proposes sale of Liverpool fund management business

Miton Group has proposed the sale of its Liverpool fund management business Miton Capital Parners to Seneca Investment Managers for up to 6.4m pounds. The move comes after a review of the Liverpool arm showed there was "less prospect of rapid growth" of assets under management compared to other are

Read more
24 Jan 2014 08:15

UK MORNING BRIEFING: Shares Open Higher On Interest Rate Assurance

LONDON (Alliance News) - UK shares have opened higher Friday, as Bank of England Governor Mark Carney backed off of forward guidance and said there is "no immediate need" to raise interest rates.

Royal Mail has reported a 2% increase in like-for-like revenues for th

Read more
16 Jan 2014 16:19

UK shale gas firm IGas climbs as CEO indicates confidence

IGas Energy, a British onshore oil and gas explorer and developer, was one of the top risers on AIM on Thursday as Chief Executive Andrew Austin dipped into the market. Austin shelled out £0.4m on 300,000 shares at 135.38p, even though the shares are trading around all-time highs. The purchase in

Read more
16 Jan 2014 14:10

DIRECTOR DEALINGS: Miton Executive Sells 760,000 Shares

LONDON (Alliance News) - Miton Group PLC Thursday said Executive Director Martin Gray sold 760,000 shares in the company at a price of 45.96 pence per share on Wednesday. The company said the roughly GBP350,000 proceeds made by the deal will be used primarily to fund subscription costs and

Read more
30 Sep 2013 15:09

UPDATE: Miton Income Shareholders To Gain Diverse Income Trust Shares In Merger Deal

Read more
30 Sep 2013 13:29

Miton Income Shareholders To Gain Diverse Income Trust Shares In Merger Deal

Read more
6 Sep 2013 10:09

Miton Worldwide Growth Investment Trust NAV Up; Borrowings Unchanged

Read more
3 Sep 2013 12:50

Miton Group Appoints New Investment, Product Strategy Chief

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.