The Latest
Flatter tone to markets
8.5.24 Against a backdrop of little fresh news, US Treasury yields continue to edge lower, with the 10-year rate down to a four-week low, notes BNZ Markets this morning. The USD is stronger, although movements have been small to modest across the board and the NZD is...
Slight dip in strong ANZ half-year
7.5.24 Coming off a record 2023 year, ANZ Banking Group performed strongly in the first half-year, albeit at a lower level than in 1H23. ANZ announced a Statutory Profit after tax for the half year ended 31 March 2024 of $3,407m, down 1% . Cash Profit was $3,552m,...
Positive quarter for Briscoe Group
7.5.24 Briscoe Group shares traded at a steady $4.45 after the retail group announced unaudited sales for the quarter ended 28.4.24 (91 days) were $183.0m, being 1.03% higher than the $181.2m achieved for the first quarter of last year. First quarter sales for the...
NZ Market Report 7.5.24
The airwaves are jangling with negative economic news at present – the BNZ even went to the extent today of a note detailing a length set of pressure points. Against that backdrop the slight (-20 points drop) by the NZX50 index to 11,800.78 was not too bad. Yet...
NZ dollar flat in quiet market week
It has been a quiet start to the week in what will likely be a quiet week overall, with a very light economic and event calendar, notes BNZ Markets this morning. “With UK and Japan holidays, trading conditions are lighter than normal, says Jason Wong, senuior markets...
Lower start for Westpac
Amid a slowing economy and competitive banking sector, Westpac posted half year net profit after tax, excluding notable items, down 8% on 1H23. Including notable items, NPAT was down 16% on 1H23 and -5% on 2H23,. “We grew our major Australian segments in a disciplined...
Wasteco shifts asset finance
6.5.24 WasteCo has completed a refinancing of its asset finance facilities totalling $12.77m from non-bank financiers to Kiwibank. As a result of the refinance, WasteCo has achieved consolidation of all its debt and asset financing arrangements with Kiwibank. WasteCo...
NZ Market Report 6.6.24
The list of listed companies making earnings downgrades continued today and served as a sober backdrop to the opening call of the week on NZX. The NZX50 fell 117.30 points to 11,820.78, a reduction of -0.98%. Mainfreight outperformed with a 51c gain to $69.51...
Spark pulls back on guidance
6.5.24 Spark New Zealand is reducing FY24 EBITDAI guidance from $1,215-$1,260 million to $1,170-$1,210 million, as challenging trading conditions intensified in some parts of the business. There is no change to FY24 capital expenditure and dividend guidance. At...
MetroGlass CEO soon to depart
MetroGlass announced today that Simon Mander has resigned his position as Group CEO and will be leaving the company on 10.5.24. Current director Simon Bennett has been appointed Executive Director, with the leadership team now reporting to him. Shawn Beck the chair...
Market Trends
NZ Market Report 7.5.24
The airwaves are jangling with negative economic news at present – the BNZ even went to the...
NZ Market Report 6.6.24
The list of listed companies making earnings downgrades continued today and served as a...
NZ Market Report 3.5.24
The NZ sharemarket closed up 64 points today at 11,938.08 and looks poised to crack the...
NZ Market Report 2.5.24
The NZ market cautiously poked higher today on a fairly negative trading session for the...
NZ Market Report 1.5.24
There were few gainers on a subdued NZX market today as the local bourse reacted sluggishly...
NZ Market Report 30.4.24
The NZ sharemarket had a further firm trading session today, with the NZX50 index rising 41.26 to...
Overseas Sharemarkets
NZ dollar flat in quiet market week
It has been a quiet start to the week in what will likely be a quiet week overall, with a very...
Kiwi dollar spikes higher
The New Zealand dollar has spiked higher after US jobs data saw the US dollar soften. Weaker than...
US dollar stronger – Japan holds firm
The US dollar finished the trading week with strength against developed market currencies and the...
Flatter tone to markets
8.5.24 Against a backdrop of little fresh news, US Treasury yields continue to edge lower, with...
NZ dollar flat in quiet market week
It has been a quiet start to the week in what will likely be a quiet week overall, with a very...
Kiwi dollar spikes higher
The New Zealand dollar has spiked higher after US jobs data saw the US dollar soften. Weaker than...
Yen outperforms on intervention
Markets have settled after the flurry following the Fed’s policy update yesterday and the moves...
US dollar weaker after Powell conference
The latest policy update by the US Federal Reserve didn’t offer any surprises but US rates and the...
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