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Sharemarket idles into May

4.5.24     ?? Warren Head The sharemarket has slipped quietly into the month of May moving steadily upwards by tiny increments, marking down the days until Budget 2024. The market is about 1.4%...
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MARKETWEEK: Gold shares poke over the parapet

27.4.24 // Warren Head The sharemarket continues to move forward at walking speed with no sign of any burst of optimism – but it is definitely refusing to retreat. At the same time, the country has...
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Air NZ slashes earnings guidance

Earnings turbulence for Air New Zealand trims guidance 22.4.24 Economic conditions and tough competition on international routes are among the negative currents impacting Air New Zealand, which has...
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MARKETWEEK:  Equity market stuck in a dusty rut

20.4.24 Warren Head Kiwi investors might be excused for thinking that they belong to a Flat Earth Society, as the nation struggles with low growth, high costs and an oscillating equity market. The...
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MARKETWEEK:    Slow sinking feeling for economy and market

13.4.24   Warren Head What a strange week it has been for contrasts in weather, mood and markets. Not to forget the departure of daylight time and northern hemisphere eclipses perplexing the...
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MARKETWEEK:  NZ market mirrors economic slowdown

Some tricky corners lie ahead...stay focused.   // // 6.4.24   Warren Head The first quarter of the March 2025 financial year is under way in a very cautious way, paying heed to several...
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MARKETWEEK: March a market moving month

  30.3.23 // Warren Head  // March proved to be the month that investor confidence grew as interest rates looked to be stabilised, if not yet falling, and that the February fall in the equities...
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MARKETWEEK:  America continues to set the pace

Wall Street drives market optimism 23.3.24  2.05pm Warren Head Kiwi investors might tip their caps towards Wall Street for the thickening upwards trend of sharemarkets as uncertainty around...
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NZ economy flat lines into 2024

21.3.24 The New Zealand economy contracted 0.1% q/q in the fourth quarter of calendar 2023. A little weaker than Westpac’s forecast of +0.1% and a technical recession at year-end. “But this isn’t...
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MARKETWEEK:   Nearing the end of the downturn on NZX?

17.3.24 Warren Head The penny has dropped down under. There has been a lot of money sloshing in the wrong direction in both the NZ and Australian markets and economies. Inflation has leapt up and...
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Flatter tone to markets

May 8, 2024 | , , ,

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

May 7, 2024 | , ,

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

May 7, 2024 |

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

May 7, 2024 | ,

  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...

Lower start for Westpac

May 6, 2024 |

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

May 6, 2024 |

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

May 6, 2024 |

  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

May 6, 2024 |

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

May 6, 2024 |

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...

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CommSecTV

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Aussie investors today weighed up a positive lead from the US, an interest rates decision from the Reserve Bank and also latest forecasts from our central bank. In response, our benchmark share index, the ASX 200, closed today up by 111 points or 1.3%. All of 11 industry sectors rose with utilities doing the best. In economic news, the Reserve Bank left rates on hold for the 6th straight month. And data showed that retail trade fell by 0.4% in price-adjusted terms in the March quarter, the fifth decline in six quarters. And following the RBA Board meeting the Aussie dollar is weaker against the greenback, now changing hands near 65.9 US cents. Visit CommSec’s Market News hub: https://www.commsec.com.au/market-news/the-markets.html Follow us on Twitter: http://www.twitter.com/commsec Follow Us On Instagram: https://www.instagram.com/commsec Subscribe to CommSecTV: https://www.youtube.com/user/CommSecTV
Market Close 7 May 24: Aussie shares power higher on less hawkish RBA

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