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MARKETWEEK: Equity market is levelling up for the year
9.12.23 /// Warren Head /// With a mild incoming tide of optimism into Christmas the New Zealand sharemarket will finish the year moored close to the same mark as at the start of 2023. At 11,495.64, following a mild nudge of 120 points over the past week, the...
Marketweek: Sharemarket starts to level up for 2023 close
9/12/23 ///// Warren Head With a mild incoming tide of optimism into Christmas the New Zealand sharemarket will finish the year moored close to the same mark as at the start of 2023. At 11,495.64, following a mild nudge of 120 points...
SkyCity revises bottom end of guidance
8.12.SkyCity Entertainment Group having completed the first five months of trading for FY24 has trimmed added a lower end to its guidance for FY24. The casino and hotel operator now expects Group normalised EBITDA for FY24 of between $290m and $310m. This compares to...
Scales post encouraging guidance
8.12.23 Scales Corporation (NZX:SCL) have reiterated market guidance for the twelve months to 31 December 2023, of an Underlying Net Profit after Tax Attributable to Shareholders range of $14.0 million to $19.0 million. Managing Director Andy Borland notes “2023 has...
NZ Market Report 8.12.23
The NZ sharemarket marked time today with rises and falls fewer and the NZX50 closing off the week at 11,495.04. A fall of 0.97 points EBOS did its bit by piling on 63c to reach $37.53, Westpac moved 19c higher at $23.59 and there were 15c gains made by Colonial...
US dollar eases and yen advances
8.12.23 The US dollar was broadly weaker, and the yen advanced to its strongest level since August following hawkish comments by Japanese policy makers, notes BNZ Markets this morning, US equity markets gained, and treasury yields retraced from an earlier move higher...
Fonterra upbeat after bright quarter
7.`2.23 Fonterra Co-op reported strong earnings for the first quarter due to improved performance in all three of its sales channels. The co-operative also forecast Farmgate Milk Price midpoint for the 2023/24 season 25 cents higher at $7.50 per kgMS, with the...
Modest currency moves – oil drops
Another day, another extension of the global bond market rally, this time driven by weaker oil prices and a soft US ADP employment report being a supporting factor, says BNZ Markets this morning. European 10-year rates are down to their lowest levels since May, while...
NZ Market report 6.12.23
The heavyweight industrials dug in today and knocked up some solid innings by nightfall on NZX. Mainfreight hit a 75 to the boundary to bring up its $70 a share target, joined by Fisher & Paykel Healthcare which out on 37c at $23.57. The middle part of the...
Global rates down, US dollar stronger
Global rates have fallen to fresh lows, following a series of bond market friendly developments, says BNZ Markets this morning The US 10-year rate is currently down 8bps to 4.17%, with even larger moves in European and Australian 10-year rates. US equities are flat...
Market Trends
NZ Market Report 8.12.23
The NZ sharemarket marked time today with rises and falls fewer and the NZX50 closing off the week...
NZ Market report 6.12.23
The heavyweight industrials dug in today and knocked up some solid innings by nightfall on...
NZ Market Report 5.12.23
Twenty days to Christmas and the market was cooling on NZX today. The heavyweight duo of EBOS (up...
NZ Market Report 4.12.23
There was an odd imbalance on NZX today with the two ends of the see-saw cancelling each other out...
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...
Overseas Sharemarkets
US dollar eases and yen advances
8.12.23 The US dollar was broadly weaker, and the yen advanced to its strongest level since August...
Local currencies drift lower
Newsflow has been light to start the week and it has begun with a “risk-off” tone, a reversal of...
KIwi dollar reverses after spike
Aided by a stronger USD overnight, the NZ dollar has reversed yesterday’s post-MPS rally, after...
US dollar eases and yen advances
8.12.23 The US dollar was broadly weaker, and the yen advanced to its strongest level since August...
Fonterra upbeat after bright quarter
7.`2.23 Fonterra Co-op reported strong earnings for the first quarter due to improved performance...
Modest currency moves – oil drops
Another day, another extension of the global bond market rally, this time driven by weaker oil...
Global rates down, US dollar stronger
Global rates have fallen to fresh lows, following a series of bond market friendly developments,...
Local currencies drift lower
Newsflow has been light to start the week and it has begun with a “risk-off” tone, a reversal of...
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