Mercury NZ's Gas Exposure Remains a Concern -- Market Talk

Dow Jones10-17

0342 GMT - Mercury NZ's exposure to the natural-gas market continues to concern Forsyth Barr. In a note, analyst Andrew Harvey-Green highlights that gas costs rose by NZ$4.0/GJ in 1Q, and the gas gross margin declined to negative-NZ$3.5/GJ. "We expect 2Q to be significantly better, with spot gas prices averaging less than NZ$10/GJ since the beginning of September 2024, compared to NZ$35/GJ in July and August," Forsyth Barr says. Still, Mercury NZ is trying to secure contracted gas at a reasonable price. "While a challenge, Mercury NZ's retail gas volumes are less material than electricity," Forsyth Barr says, retaining an outperform call on the stock. (david.winning@wsj.com; @dwinningWSJ)

(END) Dow Jones Newswires

October 16, 2024 23:42 ET (03:42 GMT)

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Still, Mercury NZ is trying to secure contracted gas at a reasonable price. \"While a challenge, Mercury NZ's retail gas volumes are less material than electricity,\" Forsyth Barr says, retaining an outperform call on the stock. 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In a note, analyst Andrew Harvey-Green highlights that gas costs rose by NZ$4.0/GJ in 1Q, and the gas ...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK7006","symbol_name":"电力公用事业","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2476158874","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2476158874","pubTimestamp":1729136520,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0342 GMT - Mercury NZ's exposure to the natural-gas market continues to concern Forsyth Barr. 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