The Latest
MARKETWEEK: Bear market gets started on Wall Street
Warren Head Take a closer look at the New Zealand growth rate and then at that of the most powerful nation on Earth and breathe out. We’re not that happy about a lot of things but we are not headed for a recession as is the United States. This week’s latest...
Market report 22.9.22
The New Zealand sharemarket resisted the temptation to follow the US markets into a sharp decline when it opened today. Overnight events in the geopolitical situation over Ukraine led to a rise in risk sentiment, while the higher interest rates set by the US Federal...
Fonterra holds profit level
22.9.22 Fonterra today announced a strong set of results for the financial year ending 31 July 2022, reflecting a 2021/22 Farmgate Milk Price of NZ$9.30 per kgMS and normalised profit after tax of NZ$591 million. With a total dividend of 20 cents per share to our...
US Federal Reserve increases rate
The FOMC meeting took place a short while ago, the Fed hiking by 75bps (as expected) and significantly revising up its interest rate forecasts, says BNZ Markets this morning. “The new ‘dot plot’ implies the Fed will raise rates by 75bps and then 50bps at its remaining...
Financials take ASX lower
21.9.22 The Aussie sharemarket finished near session lows, with the ASX 200 closing 106.2 points or 1.6 per cent lower, to 6700.2. Materials was the main weight after the sector recorded a 2.6 per cent decline, notes CommSec. Major miners like Fortescue Metals (FMG),...
Market Report 21.9.22
The NZ sharemarket shed 71.48 points today to close at 11,498.95 on the NZX50 index after a mixed trading session. Globally, there was increased risk sentiment as Russia jangled nerves with a partial national mobilisation of troops and threatened nuclear retaliation...
Strong sales for Air NZ
Air New Zealand has continued to see strong forward sales over the first three months of the financial year, particularly for travel through to January 2023. The airline said it continues to operate approximately 70 percent of FY19 capacity. On the basis that this...
Nervous markets shift risk sentiment
Risk sentiment has soured, with nerves ahead of the Fed’s policy announcement tomorrow and news that votes on annexation will be held in some Russian-held Ukraine territories, opening the door for an escalation in the war, comments BNZ Markets. Global rates have...
MIning lifts ASX into positive territory
20.9.22 The Aussie sharemarket lifted for the first time in three days and finished near session highs, with the ASX 200 up by 86.5 points or 1.3 per cent, to 6086.4. Nine sectors and 71 per cent of stocks in the ASX 200 finished in positive territory, says CommSec....
Market report 20.9.22
Gainers easily outpaced falls on NZX today, with the best performer Seeka up 3.9% or 17c to $4.04. Spark rallied 13.5c to $5.165. a2 Milk gained 17c at $6.32. Vulcan Steel added 14.5c at $8.17, and Auckland Airport was up 8c to $7.74. Marsden Maritime, Mercury, PGG...
Market Trends
Market Report 21.9.22
The NZ sharemarket shed 71.48 points today to close at 11,498.95 on the NZX50 index after a mixed...
Market report 20.9.22
Gainers easily outpaced falls on NZX today, with the best performer Seeka up 3.9% or 17c to $4.04....
Market report 19.9.22
The NZ market was in quiet retreat today, lowering the NZX50 by 48.47 at 11,531.99. Gainers were...
NZ Market Report 16.9.22
The New Zealand market did well to restrict a fall in equity values today after Wall Street...
Market Report 15.9.22
Equity markets consolidated today, the Dow Jones making a 30.12 points rise to 31,135.09 and the...
Market Report 14.9.22
The August inflation rate shock that trampled US equity markets last night, sent a ripple...
Overseas Sharemarkets
US Federal Reserve increases rate
The FOMC meeting took place a short while ago, the Fed hiking by 75bps (as expected) and...
Markets edgy ahead of Fed decision this week
Nerves ahead of the Fed’s policy meeting later this week have driven US Treasury rates up to fresh...
Voilatile week past, more action coming up this week
After another extremely volatile week, Friday saw some consolidation in global rates and...
US Federal Reserve increases rate
The FOMC meeting took place a short while ago, the Fed hiking by 75bps (as expected) and...
Nervous markets shift risk sentiment
Risk sentiment has soured, with nerves ahead of the Fed’s policy announcement tomorrow and news...
Markets edgy ahead of Fed decision this week
Nerves ahead of the Fed’s policy meeting later this week have driven US Treasury rates up to fresh...
Voilatile week past, more action coming up this week
After another extremely volatile week, Friday saw some consolidation in global rates and...
Kiwi makes fresh 2-year low
16.9.22 Global rates have tracked higher again overnight, the US 10-year rate approaching the...
Videos
Weekly Economic Insight from Michael Gordon, Acting Chief Economist, Westpac NZ
Markets
NYSE-Nasdaq Markets