The Latest
Export focus for Rua Biuoscience
24.3.23 Rua Bioscience is to cease local GMP manufacturing and accelerate its global brand strategy and building its export product pipeline. . Working with manufacturing partners, Rua expects New Zealand patients will ultimately benefit from a wider range of...
Downgrading the Warehouse
24.3.23 The surprisingly deep dive in 1H23 net profit by The Warehouse has brought forth both a lot of media comment and market downgrades. Slowing consumer activity and operating leverage drove a meaningful fall in earnings, commented Jarden analyst Guy Hooper this...
‘Hawkish’ tone from the central bank
24.3.23 RBNZ Chief Economist Paul Conway adopted a hawkish accent in his speech yesterday on “The path back to low inflation in New Zealand.” The speech was part of the KangaNews New Zealand Capital Markets Forum. It focused on the drivers of high inflation and the...
Bank of England hikes rates
24.3.23 US equities are higher after yesterday’s weak close. US short end rates are lower, while longer term rates are steadier. US dollar is broadly unchanged, while somewhat better risk appetite sees NZD outperform, notes BNZ Markets this morning. “The BoE hiked...
NZ Market report 23.3.23
American sharemarkets fell overnight after the US Federal Reserve FOMC increased official interest rates by 0.25%, in the continued anti-inflation campaign despite tensions in the banking sector. The Dow Jones fell 530.49 points or 2.63% at 32,030.11. The downwards...
Half-year profit plunge for The Warehouse
23.3.23 A combination of rising costs and trimmed margins has been a tough mixture for The Warehouse Group in the January 29 half-year. While group sales of $1.813 billion are up 4.8% compared to FY22 half year, the bottom line reported net profit dropped 60.9% to...
Dovish Fed and a weaker USD
Initial market reaction to the latest Fed policy update has been lower rates, modestly stronger equities and a weaker US dollar, notes BNZ Markets this morning.. “The Fed opted for a dovish 25bps hike, as widely anticipated, but ahead of the meeting there was...
US Fed lifts interest rate
The US Federal Reserve’s Federal Open Markets Committee has stayed on course in its anti-inflation strategy – despite recent turmoil in the edges of the American banking sector - and raised the target range for the federal funds rate to 4-3/4 to 5% “Recent indicators...
NZ Market Report 22.3.23
There was much more positive energy flowing through the NZ sharemarket today with several leader5s bouncing upwards from recent sold-off situations. Prominent in this rally were EBOS up 123c to $45.70, F&P Healthcare up 60c to $25.75, while Restaurant Brands...
Hotelier to purchase landmark in Brisbane
22.3.23 The Sofitel Brisbane Central hotel holds a landmark location in the Queensland city and Millennium & Copthorne Hotels have committed to a NZ$189m deal that will fold it into the hotelier’s property portfolio. Millennium & Copthorne Hotels New...
Market Trends
NZ Market report 23.3.23
American sharemarkets fell overnight after the US Federal Reserve FOMC increased official interest...
NZ Market Report 22.3.23
There was much more positive energy flowing through the NZ sharemarket today with several leader5s...
NZ Market Report 21.3.23
The NZ sharemarket reflected the weekend uncertainty on global financial markets today with a...
NZ Market Report 20.3.23
20.3.23 Financial markets have been calmed by the fast action of the Swiss authorities to see a...
NZ Market Report 17.3.23
After a tumultuous week, in which the risk of a banking crisis was stared down by...
NZ Market Report 16.3.23
The spotlight swung onto Europe overnight where plunging shares in Credit Suisse saw the...
Overseas Sharemarkets
Bank of England hikes rates
24.3.23 US equities are higher after yesterday’s weak close. US short end rates are lower, while...
Dovish Fed and a weaker USD
Initial market reaction to the latest Fed policy update has been lower rates, modestly...
Risk appetite improves; NZD eases
Equities and global rates are higher, encouraged by the moves of authorities to support the...
‘Hawkish’ tone from the central bank
24.3.23 RBNZ Chief Economist Paul Conway adopted a hawkish accent in his speech yesterday on “The...
Bank of England hikes rates
24.3.23 US equities are higher after yesterday’s weak close. US short end rates are lower, while...
Dovish Fed and a weaker USD
Initial market reaction to the latest Fed policy update has been lower rates, modestly...
US Fed lifts interest rate
The US Federal Reserve’s Federal Open Markets Committee has stayed on course in its anti-inflation...
Consumer confidence still in doldrums
22.3.23 (9.20am) Westpac McDermott Miller Consumer Confidence, March quarter 2023 The mood among...
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Weekly Economic Insight from Michael Gordon, Acting Chief Economist, Westpac NZ
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