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New government in Australia
22.5.22 The Australian Labour Party, and PM-elect Anthony Albanese, have won the Australian Federal Election but may not be a majority government. How will the ASX react to the change of government? The new Labour government will thus depend on the cross-benches,...
MARKETWEEK: Market refocuses on the back-yard.
Some essential equipment for current circumstances 21.5.22 Warren Head Reason prevailed over over-reaction this past week as the New Zealand sharemarket refocussed onto home market events and let the turmoil on Wall Street take care of itself. In that sense the...
ASX closes on a positive note
20.5.22 The Australian sharemarket has finished the week on a positive note and nearly reversed yesterday’s losses, after lifting by 1.15 per cent or 81pts, to 7146. Gains were seen across the market today after nine of eleven sectors finished in positive territory,...
Market report 20.5.22
A splash of fiscal stimulus in the 2022 Budget offset another soggy day on Wall Street, when the NZ sharemarket opened today. The Dow dropped 236.94 at 31,253.13 but the NZX50 closed off the week with a 60.46 points gain at 11,267.37. There were three companies...
Strong lift by My Food Bag
20.5.22 My Food Bag the subscription-based meal kit and food solutions business, has seen an up-current in revenue and earnings in the March 2022 year. Revenue of $194 million is up $7.6 million on Prospective Financial Information (PFI) and up $3.3 million on FY21....
Oceania Healthcare books gain
Ocdeania retirement village Waterford 20.5.22 Oceania Healthcare has announced unaudited Underlying EBITDA of $76.2m for the year ended 31 March 2022, a 16.2% ($10.6m) increase on FY21. Revenue stood at $231.14 million and net profit is $61.13m. Oceania CEO...
Record FY22 for Ryman Healthcare
Ryman retirement village at Devonport 20.5.22 Ryman Healthcare has reported a record full year audited underlying profit of $255.0m, helped by a resilient performance through COVID and a strong recovery in Victoria. Audited reported (IFRS) profit, which includes...
Weakness in US dollar
20.5.22 Growth fears for the US economy have resulted in notable weakness in the US dollar, comments BNZ Markets. US rates have pushed lower, led by the short-end of the curve, as traders pare bare monetary policy tightening expectations a little, notes Jason Wong,...
Market report 19.5.22
It only takes a few hours to erase euphoria and instal fear these days on Wall Street. Major US ports are readying for a surge in consumer imports for the summer shopping season but the rising costs of freight and fuel are trimming retail margins. When the...
Books in shape but funding front-loaded
19.5.22 Budget 2022 shows that the Government’s books remain in good shape, comments Westpac. “Also as anticipated, the Government has found room for targeted temporary social assistance, namely via a ‘cost of living’ package,” says chief economist Michael Gordon “The...
Market Trends
Market report 20.5.22
A splash of fiscal stimulus in the 2022 Budget offset another soggy day on Wall Street,...
Market report 19.5.22
It only takes a few hours to erase euphoria and instal fear these days on Wall Street....
Market report 18.5.22
There was a rosy start to the day’s trading as American markets rallied, the Dow finally closing...
Market Report 17.5.22
Trading was fairly level on NZ today, with a small drop of -19.78 points to 11,137.88. Overnight,...
Market report 16.5.22
After a strong recovery made on Wall Street at the weekend, the expectation was that the...
NZ market report 13.5.22
13.5.22 This rollercoaster of a week may be over for the NZX market, as it closed this evening at...
Overseas Sharemarkets
New government in Australia
22.5.22 The Australian Labour Party, and PM-elect Anthony Albanese, have won the Australian...
Markets firm up at weekend
Risk assets ended last week on a positive note, with equities rebounding strongly on Friday from...
Euro plunges, Kiwi down, on recession fears
13.5.22 Markets remain firmly in risk-off mode as concerns grow that the global economy is heading...
Weakness in US dollar
20.5.22 Growth fears for the US economy have resulted in notable weakness in the US dollar,...
Books in shape but funding front-loaded
19.5.22 Budget 2022 shows that the Government’s books remain in good shape, comments Westpac....
Better US data helps markets
18.6.22 Risk appetite has recovered as investors eye up easing lockdown restriction in China and...
State surpluses from mid-decade
17.5.22 Westpac expect Budget 2022 to show that, all things Covid considered, the Government’s...
What’s the ‘right amount’ of tightening?
17.5.22 Economic growth is set to slow both in New Zealand and around the world, as central banks...
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Weekly Economic Insight from Michael Gordon, Acting Chief Economist, Westpac NZ
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