MARKETWEEK:  Brighter stars for equities this week

The stars of Matariki (Courtesy NASA) 26.6.22 // Warren Head // The big economic questions of the month continue to swirl around inflation, interest rates, recession. But it’s time for a break from...

Fletcher respond to wallboard furore

  The ruckus over the building sector’s acute shortage of wallboard for construction of residential and commercial buildings has intensified this week with the Government stepping in to set up...

Consumer confidence hits record lows

Kiwis react to finding their budgets squeezed 21.6.22 (9.02am) There isn’t any cheer for the markets or the Government in the latest Westpac McDermott Miller Consumer Confidence Index, which has...

MARKETWEEK: Drown your fears in a coffee

FDR in 1933 18.6.22 // Warren Head // A new day opens with the morning media proclaiming a bear market.  The New Zealand market is indeed hovering just above that level and it may be a good moment...

Equity markets take a knock

Markets have closed in the United States and UK deeply in the red as investors took fright at the risk of recession raised in assessments of the American (and global) economy. The market...

Fed makes 0.75 pts rate hike

  Fed chairman Jerome Powell at the Federal Open Market Committee press conference this morning 16.05.22 6.45am With the US economy running strongly and inflation at a 40-year high, the US...

US market had one direction to go

14.6.22 \\ US stocks only had one way to go after inflation fears intensified and raised the risk of stronger tightening by the Fed and a much sooner recession, says Edward Moya, senior market...

MARKETWEEK: Holding onto our hats while US buffeted

11.6.22 Warren Head One of the aspects of the movement of the New Zealand sharemarket over the past six weeks or so is its relative stability. What, you might say, what’s he been eating?  There’s...

Air NZ trims loss guidance

10.6.22 (9.27am) Improving demand for travel on domestic and international flights has helped Air New Zealand to trim its expected FY22 trading loss to ‘less than $750m.’ Though still a heavy blot...

MARKETWEEK: Avoiding the dizziness of the roller-coaster

  Warren Head   Winter has arrived and it does not have to be a winter of discontent for equity investors if they avoid making impetuous mistakes.  But the shifting shadow of Wall St...

The Latest

Confidence falls in most regions

Regional economic confidence remained down in the dumps over the June quarter, with all regions now in pessimistic territory in the latest Westpac McDermott Miller Regional Confidence survey. The largest declines were seen in Auckland, reflecting both cost-of-living...

Weaker US markets

Risk appetite has deteriorated, not helped by a weaker US consumer confidence print. Commen ts BNZ Markets. US equities are down 2-3% while the USD is broadly stronger. The NZD is the weakest performer overnight, falling below 0.6250. European rates are higher on...

NZ Rural Land shortfall bookbuild ends

New Zealand Rural Land Company Ltd has completed the retail shortfall bookbuild component of its 1 for 5 accelerated pro rata renounceable entitlement offer. The Retail Bookbuild raised approximately $2.3 million, bringing the total raised via the Offer to...

Commodities rally lifts ASX

28.6.22 A rebound in key commodities overnight helped the Aussie market secure its fourth straight win, with the ASX 200 finishing 57.6pts or 0.86 per cent higher, to 6763.6. Materials and Energy stocks added 3.6 per cent and 3.0 per cent, respectively, and did most...

Market Report 28.6.22

NZ shares continued trading on a positive note today with the NZX50 gaining 20.70 pts at 11,018.62.  Overnight, the Dow Jones had dipped 62.42 to 31,438.26.  The major news of the domestic day was the clearance by the ComCom for Ampol Ltd to divest Gull NZ assets in...

Ampol sells Gull for $500m+

28.6.22 12.00pm (Updated 7.30pm) Ampol Ltd has confirmed today that the sale of its Gull business in New Zealand (Gull) to a transaction vehicle entity of Allegro Funds Pty Ltd (Allegro) has become unconditional. The transaction was subject to conditions including...

Export to Germany step for Rua Bioscience

28.6.22 Rua Bioscience has received its narcotic licence through Nimbus Health GmbH for distribution and marketing of its first product for the German medicinal cannabis market . An application to extend the narcotics license of Nimbus Health GmbH to include Rua’s...

Kiwifruit harvest 2022 in the bin

The 2022 harvest of New Zealand’s largest horticultural produce, kiwifruit, is now largely complete with almost all 2,800 growers’ orchards from Kerikeri in the north to Motueka in the south picked for consumers. The 2022 season was expected to have a record-breaking...

Kiwi eases and rates reverse course

It has been a quiet start to the week with little newsflow to perturb the market, notes BNZ Markets this morning. Global rates markets have reversed course after last week’s strong rally, seeing yields much higher across Europe and the US, says Jason Wong, senior...

Market Report 27.6.22

Saturday’s surge on New York market – in expectation that interest rates will not be increased to the extent feared – spilled over to the NZ market this morning. The NZX50 was to close 184 points higher at 10,997.92. A handful of declining stocks didn’t amount to...

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