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Subscription kick for ikeGPS
19.4.24 A fourth quarter leap in subscriptions was the highlight of quarterly and FY24 results posted by ikeGPS this week FY24 Highlights: + Revenue of ~NZ$21.1m (-31% pcp). + Subscription revenue of ~NZ$10.7m (+22% vs pcp). + Transaction revenue of ~NZ$7.3m (-61% vs...
Strong US dollar caps Kiwi
Newsflow has remained light, generating modest movements in asset prices, says BNZ Markets this morning. “US equities are down modestly while US Treasury yields have pushed higher, with a stronger Philly Fed survey and hawkish Fed-speak not helping.,” notes Jason...
NZ Market Report 18.4.24
The NZ sharemarkets had a quiet trading session, culminating in a 39 points drop to 11,836.04 by the NZX50 index. Overnight, the Dow ones eased off 45.66 points at 37,753.31. Trade Window CEO JP Smith made an impassioned statement to investors this morning including...
Cautious outlook by PGG Wrightson
18.4.24 The rural sector services group PGG Wrightson has revised its operating EBITDA guidance to be around $43 million (from $50 million) for the June year. PGW chair Garry Moore said conditions have deteriorated because of market conditions that are impacting the...
High CPI nudges Kiwi dollar up
There is a modest risk-off tone in the air, with US equities weaker, US Treasury yields lower, credit spreads wider and oil prices weaker, notes BNZ Marjets this morning. “Currency movements haven’t been affected by the risk-off move, with the USD broadly weaker...
NZ Market Report 17.4.24
Several stocks which took a hammering earlier this week, made ground today, notably Ampol rebounding by a strong $1.38 to trade at $46.08, a gain of 3.09%. Mainfreight moved back up by $1.50 to $69.50 and F&P Healthcare recovered 38c to hit $26.78. Infratil...
Tower upgrades earnings guidance
Tower Limited (NZX/ASX: TWR) has today updated its earnings guidance on underlying net profit after tax (underlying NPAT) for the year ending 30 September 2024. Full year underlying NPAT is expected to be greater than $35m. Previously Tower had advised that it...
CPI down but unconvincing
Annual CPI inflation has decelerated from 4.7% to 4.0% y/y in the first quarter of 2024 but the decline has its limitations. ANZ Bank economists noted that the mark was in line with ANZ’s forecast, and above the RBNZ’s November MPS forecast of 3.8%. “But the details...
US rates high for longer
17.4.24 Global bond markets remained under pressure overnight, notes BNZ Markets this morning. “US treasuries yields made fresh highs for the year which constrained equity market performance,” says Stuart Ritson, senior interest rate strategist. The S&P was...
NZ Market Report 16.4.24
The NZ sharemarket became caught up in the wave of uncertainty flowing off major markets today. The NZX%0 falling 111.94 points at 11,804.84. The ASX All Ords was down 140.90 at 7,868.50, Overnight the Dow Jones shed a further 248.13 points to land at...
Market Trends
NZ Market Report 18.4.24
The NZ sharemarkets had a quiet trading session, culminating in a 39 points drop to 11,836.04 by...
NZ Market Report 17.4.24
Several stocks which took a hammering earlier this week, made ground today, notably Ampol...
NZ Market Report 16.4.24
The NZ sharemarket became caught up in the wave of uncertainty flowing off major...
NZ Market Report 15.4.24
The NZX market proved to be very resistant to following global markets into an over-reaction to...
NZ Market Report 12.4.24
The sharemarket had fair degree of activity despite the adverse weather which slowed major cities...
NZ Market Report 11.4.24
The NZ sharemarket kept its decline today to only 37.61 points at 11,934.31 after the Wall Street...
Overseas Sharemarkets
US rates high for longer
17.4.24 Global bond markets remained under pressure overnight, notes BNZ Markets this morning. “US...
Cautious tone on financial markets
Markets continue to trade with a cautious tone, with Israel vowing to retaliate against Iran’s...
Risk aversion on financial markets
Risk aversion gripped global assets markets into the end of last week amid rising geopolitical...
Strong US dollar caps Kiwi
Newsflow has remained light, generating modest movements in asset prices, says BNZ Markets this...
High CPI nudges Kiwi dollar up
There is a modest risk-off tone in the air, with US equities weaker, US Treasury yields lower,...
CPI down but unconvincing
Annual CPI inflation has decelerated from 4.7% to 4.0% y/y in the first quarter of 2024 but the...
US rates high for longer
17.4.24 Global bond markets remained under pressure overnight, notes BNZ Markets this morning. “US...
Cautious tone on financial markets
Markets continue to trade with a cautious tone, with Israel vowing to retaliate against Iran’s...
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