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New Zealand shares end lower weighed by travel, utility stocks; Australia closed

Stock MarketsJan 26, 2021 16:06
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© Reuters.

(Updates to close)

Jan 26 (Reuters) - Industrial and tourism-related stocks pressured New Zealand shares on Tuesday, amid muted trading, as Australian equity markets were shut for a holiday.

New Zealand's benchmark S&P/NZX 50 index .NZ50 fell 0.6% to end at 13,323.46 points, with trading volumes at over two-third of the 30-day average.

New Zealand confirmed on Monday that a 56-year old woman had contracted COVID-19, marking its first coronavirus case in several months, leading neighbouring Australia to suspend a travel bubble with the country for 72 hours. International Airport Ltd AIA.NZ lost 2.8%, Air New Zealand AIR.NZ fell 1.2%, while motorhomes rental company Tourism Holdings THL.NZ lost 1.6%.

"Aviation stocks would be affected if borders have to stay closed for longer, especially with Australia stopping any New Zealand flights into their country. So there is a little bit of nervousness in that sector," said Grant Williamson, investment adviser at Hamilton Hindin Greene.

Power retailers Contact Energy CEN.NZ , Meridian Energy MEL.NZ and Mercury NZ MCY.NZ , among the top percentage losers, were down between 3.7% and 2.3%.

The ASX200 index .AXJO did not trade on account of the Australia Day holiday.

New Zealand shares end lower weighed by travel, utility stocks; Australia closed
 

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