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MARKETWEEK: Cameo high-flier brightens the new month
// 2.12.23 // Warren Head Hopes for a soft landing after a volatile business year that has been fraught with inflation and political risks are now propelling an upwards flight path into December. The past week’s trading appeared mostly concentrated in...
NZ Market Report 1.12.23
Christmas month has arrived and there is clearly a more positive vibe running – albeit nothing so exciting as to be dubbed as a rally. Those days may be over for a while, and we may need to be content with simple double digit gains by the NZX Gross Index – which today...
WasteCo half has expenses impact
1.12.23 Recently listed WasteCo has reported 1H24 revenue was up 22% to $20.8m. Other income and business acquisition gains of $1.7m took total income and revenue to $22.5m (1H23: $17.2m). A net loss of $1.1m (1H23: profit of $0.4m) was due in large part to one off...
US dollar makes good gains
Global bonds are higher in yield while the US dollar advanced, says BNZ Markets this morning. In currency markets the US Dollar made broad based gains, particularly against European currencies, says Stuart Ritson. The 0.5% increase in the Dollar index trimmed...
NZ Market report 30.11.23
Evident optimism in the equities market at the RBNZ’s decision not to increase the OCR at this week’s MPC meeting saw equity share prices move higher overall; today. The NZX50 finished the trading session up 94.26 at 11,330.10. Overnight, the Dow Jones rose...
Genesis outlines $1.1bn energy plan
30.11.23 Genesis Energy intends to use profits from the Kupe gas field to support a $1.1 billion programme to build new renewable generation and grid scale battery storage between now and 2030. As part of a strategy reset, Gen35, investment will be made into solar,...
KIwi dollar reverses after spike
Aided by a stronger USD overnight, the NZ dollar has reversed yesterday’s post-MPS rally, after the RBNZ’s surprising forecast update which showed an increased chance of tighter policy and a higher-for-longer rate track, notes BNZ Markets. NZD/USD is trading back...
Out-performance by Blackpearl
29.11.23 Blackpearl Group's financial performance since listing on NZX has been notable, with first half of FY24 subscription revenue reaching $1.5 million – a 163% increase. And Annual recurring Revenue, ARR, soaring to $4.6 million — a 221% year-on-year increase....
No change to OCR but hawkish tone
The RBNZ left the OCR at 5.5% as expected but was more hawkish on future prospects. The RBNZ's projections signal the risk of further increases in the OCR in 2024. An easing cycle looks quite some time off., says Westpac chief economist Kelly Eckhold. The RBNZ’s...
NZ Market Report 29.11.23
Several heavyweight stocks climbed on the NZ sharemarket today as the Reserve Bank released a no-change decision on the Official Cash Rate (though hedging its opinions on what early New Year might bring and increased resignation to an extended period of current...
Market Trends
NZ Market Report 1.12.23
Christmas month has arrived and there is clearly a more positive vibe running – albeit nothing so...
NZ Market report 30.11.23
Evident optimism in the equities market at the RBNZ’s decision not to increase the OCR at...
NZ Market Report 29.11.23
Several heavyweight stocks climbed on the NZ sharemarket today as the Reserve Bank released...
NZX Market Report 28.11.23
EBOS Group moved strongly higher today with as 64c rise to $35.63,...
Market Report 27.11.23
The opening session of the new week was slow. Investors and the public are still absorbing...
NZ Market Report 24.11.23
There were thanksgivings all round today as the United States held its annual holiday and...
Overseas Sharemarkets
KIwi dollar reverses after spike
Aided by a stronger USD overnight, the NZ dollar has reversed yesterday’s post-MPS rally, after...
Policy -on-hold mood thickens
The NZD has pushed up to fresh highs, approaching 0.6150, says BNZ Markets this morning. Senior...
NZ dollar steadily rises
27.11.23 It was a subdued end to the trading week across global markets in the absence of...
US dollar makes good gains
Global bonds are higher in yield while the US dollar advanced, says BNZ Markets this...
No change to OCR but hawkish tone
The RBNZ left the OCR at 5.5% as expected but was more hawkish on future prospects. The RBNZ's...
NZ Market Report 29.11.23
Several heavyweight stocks climbed on the NZ sharemarket today as the Reserve Bank released...
Policy -on-hold mood thickens
The NZD has pushed up to fresh highs, approaching 0.6150, says BNZ Markets this morning. Senior...
NZ dollar and AUD firm
Markets are quiet, with the US on holiday but European bond yields have pushed higher, with...
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Weekly economy and markets round-up from Westpac Chief Economist Kelly Eckhold
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