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    AIR   NZAIRE0001S2

AIR NEW ZEALAND LIMITED

(AIR)
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Australia shares end higher on tech, healthcare boost

06/18/2021 | 02:49am EDT

June 18 (Reuters) - Australian shares closed higher on Friday and booked a weekly gain, as tech stocks surged on the back of an overnight rally in U.S. peers while a stronger dollar lifted export-reliant healthcare firms.

The S&P/ASX 200 index rose 0.13% to 7,368.9 at the close of trade. It firmed 0.8% for the week to notch its fifth straight weekly gain, having breached the 7,400 level for the first time on Wednesday.

"Stocks have been very resilient this week and sell-offs have been marginal ... any risk from a possible hike in rates or other sources isn't manifesting in prices at the moment," said Kyle Rodda, an analyst at IG Markets.

"There seems to be a tendency to rotate to other stocks instead of dumping them altogether".

Tech stocks jumped over 3%, after gains in U.S. peers drove the Nasdaq higher overnight.

Buy-now-pay-later firms Zip Co and Afterpay Ltd jumped 9.9% and 6.5%, respectively.

Export-dependent healthcare stocks gained more than 1% as the greenback strengthened against the Australian dollar after hints of a sooner-than-expected tapering of U.S. monetary stimulus.

Drugmaker CSL Ltd was up 1.1%, while medical device maker Resmed Inc advanced 2.7%.

But mining stocks closed over 1% lower, with sector heavyweight BHP Group and top gold producer Newcrest Mining losing 2.5% and 2.9%, respectively.

Energy stocks dropped 1.9% as oil prices weakened due to the firmer U.S. dollar.

Woolworths Group fell as much as 1.9% to an over two-week low after the industrial relations watchdog said it was suing the country's largest supermarket chain for underpaying staff.

New Zealand's benchmark S&P/NZX 50 index ended marginally higher at 12,551.9, helped by gains in consumer and healthcare stocks.

Air New Zealand fell 0.3% after saying it expected losses in fiscal 2021 and 2022.

(Reporting by Soumyajit Saha in Bengaluru; Editing by Aditya Soni)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
AFTERPAY LIMITED 18.77% 114.8 End-of-day quote.-2.71%
AIR NEW ZEALAND LIMITED 0.67% 1.51 End-of-day quote.-16.11%
BHP GROUP 0.39% 53.7 End-of-day quote.26.56%
CSL LIMITED 1.88% 294.35 End-of-day quote.3.94%
LONDON BRENT OIL -2.54% 73.21 Delayed Quote.45.28%
NASDAQ COMP. 0.06% 14681.068873 Real-time Quote.13.85%
NEWCREST MINING LIMITED 1.51% 26.89 End-of-day quote.4.31%
WOOLWORTHS GROUP LIMITED 1.29% 39.26 End-of-day quote.-0.13%
WTI -3.02% 71.482 Delayed Quote.52.09%
ZIP CO LIMITED 9.04% 7.24 End-of-day quote.36.86%
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Financials
Sales 2021 2 615 M 1 823 M 1 823 M
Net income 2021 -231 M -161 M -161 M
Net Debt 2021 3 286 M 2 290 M 2 290 M
P/E ratio 2021 -7,32x
Yield 2021 -
Capitalization 1 695 M 1 183 M 1 182 M
EV / Sales 2021 1,90x
EV / Sales 2022 1,18x
Nbr of Employees 9 988
Free-Float 47,2%
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Technical analysis trends AIR NEW ZEALAND LIMITED
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Mean consensus SELL
Number of Analysts 5
Last Close Price 1,51 NZD
Average target price 1,24 NZD
Spread / Average Target -17,9%
EPS Revisions
Managers and Directors
Gregory S. Foran Chief Executive Officer
Richard Thomson Chief Financial Officer
Therese Maria Walsh Chairman
Carrie Hurihanganui Chief Operating Officer
Janice Amelia Dawson Deputy Chairman