The Latest
Just Life meeting supports delisting
13.5.24 The special meeting today of shareholders of Just Life Group Ltd put paid to the future of the business on the NZ stock exchange. Resolutions were approved at the meeting that will result in the company delisting from the NZX Main Board, and then listing on...
NZ Market Report 13.5.24
The NZ sharemarket had a bleak start to the trading week, with a surprise downgrade by Fletcher Building depressing the famous Kiwi company’s shares to their lowest level in 22 years. Market conditions across FBU’s Materials and Distribution divisions have...
Market conditions reduce Fletcher guidance
13.5.24 Further evidence that the building and construction sector has contracted in recent months came from Fletcher Building today in a trading and market update. Market conditions across the company’s Materials and Distribution divisions have weakened throughout...
Rakon cautions on bid
13.5.24 Rakon has reminded shareholders that there is no certainty that any transaction will eventuate from the takeover proposal received in December or as to the pricing or timing of any transaction. On 18.12.23, Rakon announced that it was undertaking a process to...
Markets cautious of over-expectation
Weaker than expected US consumer confidence data and higher treasury yields, following a rise in inflation expectations, contributed to the S&P 500 retracing from earlier gains to close modestly higher on Friday, notes BNZ Markets. “Across the Atlantic, UK and...
Market looking for an ignition source
Aurora australis at Lake Haupiri, West Coast Warren Head Investors must confused by a welter of commentary on the state of the NZ economy, most being negative to middling, and will be looking to the forthcoming Budget to act as an ignition point...
NZ Market Report 10.5.24
Energy companies were in the spotlight today after the early cold snap forced Transpower to warn of potential power reduction. However, large wholesale customers reduced the energy load sufficiently for the network to move safely through the early morning 7am – 9am...
3Q24 sales normalise for Warehouse
10.5.24 The Warehouse Group has provided a trading update for the 13 weeks ending 28.4.24 (3Q24) and the 39 weeks year to date. The group reported total sales of $695.5m in 3Q24 Q3, a decline of 9.2% compared to 3Q23 resulting in total sales of $2.3bn in FY24 year to...
NZ dollar pushes higher
Overnight, much weaker than expected US initial jobless claims figures triggered lower US Treasury yields and a weaker USD, although moves have been modest, notes BNZ this morning. “The BoE signalled a rate cut was soon coming, something the...
NZ Market Report 9.5.24
Temperatures are falling as an early winter strikes and the equity market has become frosty as well. With a 36 points today, the NZX50 sank to 11,746.59, close to a 9-week low point. In contrast, in the US, the Dow Jones Industrial Average increased for...
Market Trends
NZ Market Report 10.5.24
Energy companies were in the spotlight today after the early cold snap forced Transpower to warn...
NZ Market Report 9.5.24
Temperatures are falling as an early winter strikes and the equity market has become...
NZ Market Report 8.5.24
The NZX market slipped under the 11,800 level today in the absence of any positive news. The NZX50...
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...
Overseas Sharemarkets
Markets cautious of over-expectation
Weaker than expected US consumer confidence data and higher treasury yields, following a rise in...
NZ dollar pushes higher
Overnight, much weaker than expected US initial jobless claims figures...
NZ dollar stable in narrow market
Global markets were generally confined overnight to narrow ranges in the absence of first-tier...
Market conditions reduce Fletcher guidance
13.5.24 Further evidence that the building and construction sector has contracted in recent months...
Markets cautious of over-expectation
Weaker than expected US consumer confidence data and higher treasury yields, following a rise in...
NZ dollar pushes higher
Overnight, much weaker than expected US initial jobless claims figures...
NZ dollar stable in narrow market
Global markets were generally confined overnight to narrow ranges in the absence of first-tier...
Flatter tone to markets
8.5.24 Against a backdrop of little fresh news, US Treasury yields continue to edge lower, with...
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