Welcome to the October 2023 edition of Sharesight’s monthly NZX trading snapshot, where we look at the top 20 trades Sharesight users made on the NZX during the month.

In this snapshot, trades were strongly led by Smartshares’ US 500 (NZX: USF) and NZ Top 50 (NZX: FNZ) ETFs. In terms of individual stocks, trades were led by Air New Zealand (NZX: AIR), which has warned of lower profits ahead for Q2; followed by Ebos Group (NZX: EBO), which has achieved earnings growth despite uncertain market conditions.

Let’s look at the news behind the key stocks in this month’s snapshot:

Air New Zealand (NZX: AIR)

• Backlash over Air NZ’s decision to outsource call centre jobs to Manila
• Air NZ warns of lower Q2 profits due to volatile fuel prices, growing competition and uneven travel demand
• Rival US airlines launch flights from LA to Auckland.

Ebos Group (NZX: EBO)

• Ebos manages to maintain earnings growth despite uncertain conditions
• Ebos joins NZX 50 slide, contributing to share market’s 16-month low.

Infratil (NZX: IFT)

• Infratil increases stake in Kao Data from 49% to 53%
• Kao data proposes NZ$730 million Stockport data centre following increased Infratil funding
• Infratil announces Andrew Carroll as new CFO.

Mercury New Zealand (NZX: MCY)

• Mercury NZ plans to expand Ngatamariki geothermal power plant
• Solid outlook for Mercury NZ as higher sale prices offset lower hydroelectric generation.

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