The New Zealand sharemarkets limped to an end-of-year close
on Tuesday on light volume, as last-minute deals were pushed
through to close out the year.
The NZX-50 closed down nearly 32 points on the day at 4737.
But the index ended up 16.5% higher for the year after
closing on December 31, 2012 at 4066.
Craigs Investment Partners broker Chris Timms said it was a
traditional end-of-year close.
''People have decided they either want in or out of the
market at the end of the quarter. Any orders sitting there
have been tidied up as people did not want them left there at
the end. It was a particularly soft finish on light volume.''
The Warehouse shares were down 11c on Tuesday on 17,000
shares sold. The buy price was $3.70 and the sell at $3.84.
TrustPower was down 11c on 9000 shares and Ebos was down 1%
on 1000 shares sold. That was indicative of how quiet the
last week of the year had been, he said.
However, the year had seen some stellar price movements.
Accounting software company Xero had a year low of $6.79 a
share, a peak of $41.50 and closed on Tuesday at $32.30.
Dunedin biotechnology company Pacific Edge had a low of 44.9c
and a high of $1.64 and Diligent had a low of $2.76 and a
high of $8.20 before closing on Tuesday at $3.80.
Auckland International Airport started the year on $2.67 a
share and closed out 2013 at $3.62.
Ryman Healthcare had a low of $4.45 and a high of $8.12
before closing at $7.58.
''There are stocks in here which have had a stunning period
and that doesn't include an income stream,'' Mr Timms said.
Global stocks closed out 2013 sitting on some large gains
thanks to easy monetary policies and an improving economic
Activity was light on Tuesday as Tokyo, the star of Asia's
markets, was closed for the rest of the week. On Monday, the
Nikkei ended with gains of no less than 56.7% for the year,
its best performance since 1972. MSCI's broadest index of
Asia-Pacific shares outside Japan was flat for the year as
were markets in Singapore, South Korea and the Philippines.
Australia and Taiwan fared better, managing gains of 15% and
While the Standard & Poor's 500 finished flat, it was
still ahead 29% for the year, its largest annual gain since
1997. The Dow Jones rose 26%.
Most European stock indices eased but stayed on track for
their largest annual gain in four years. The FTSEurofirst 300
was up 16% for the year.