The Latest
Mainfreight has super year
26.5.22 The international freight forwarder and logistics group Mainfreight has notched up another record result and a ‘more than satisfactory’ improvement on the prior year. Revenue in the FY22 year has bounced 47.2% or $1.67 billion to $5.22 billion. Profit before...
Surprise for markets from Reserve Bank
The RBNZ sprung a hawkish surprise at the MPS yesterday, significantly revising up its forecast OCR track to show a peak of just under 4%, notes BNZ Markets. NZ rates moved sharply higher as a result, with the market moving to broadly align itself with the RBNZ’s new...
Aussie banks hold ASX higher
25.5.22 Despite a mixed lead from Wall Street overnight, the Australian sharemarket finished 0.4 per cent or 26 pts higher, to 7155.2. Banks were noteworthy winners and were supported by a lift in US treasury yields and a hike in the New Zealand interest rate. Notes...
Market report 25.5.22
The tone on NZX reversed today following the decision by the Reserve Banks monetary policy committee to lift the official cash rate 50bps to 2%. Though widely expected by economists as the only direction the OCR could take with inflation on the rise, the market read...
Reserve Bank tops up cash rate
The Monetary Policy Committee today did exactly what the market had expected and increased the Official Cash Rate (OCR) to 2.0%. The Committee agreed it remains appropriate to continue to tighten monetary conditions at pace to maintain price stability and support...
F&P Healthcare has strong year
25.5.22 Fisher & Paykel Healthcare Corporation’s results for the full year ended 31 March 2022 show another strong performance, although lower than the exceptional Covid-driven sales and earnings spike of 2021. Managing director and CEO Lewis Gradon said, “Over...
Reversal in risk sentiment
After a positive start to the week, risk sentiment is weaker again on the back of concerns about the earnings and growth outlook, says BNZ Markets this morning. This sees weaker global equities and global rates lower, says Jason Wong, senior market strategist....
Selling presssure on ASX
24.5.22 Despite reaching a high of 7165 (0.2%), the market succumbed to selling pressures and finished 0.3% or 20 points lower, to 7129. The local Info Tech sector weighed on the index after it posted its first loss in three days. But the Financials sector managed to...
Market report 24.5.22
24.5.22 The NZ reversed direction today, and down went many of the shares that held the market up on Monday. Mainfreight shed $1.15 at $75.81, Summerset fell 20c at $10.67 and Delegat dropped 40c to $12. Freightways peeled off 36c at $10.50. Energy stocks reversed,...
Bigger interim loss for Gentrack
24.5.22 Gentrack Group, which provides software solutions for utilities and airports, has reported an increased loss in the half-year to 31 March 2022. The first half of the financial year has seen Gentrack make excellent progress in two key areas. Revenue has grown...
Market Trends
Market report 25.5.22
The tone on NZX reversed today following the decision by the Reserve Banks monetary policy...
Market report 24.5.22
24.5.22 The NZ reversed direction today, and down went many of the shares that held the market up...
Market report 23.5.22
23.5.22 The national sharemarket settled into a more normal pace today, after a weekend of...
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...
Overseas Sharemarkets
Stagflation fears hang over markets
23.5.22 Markets remain dominated by stagflation concerns at present, with inflation at...
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...
Surprise for markets from Reserve Bank
The RBNZ sprung a hawkish surprise at the MPS yesterday, significantly revising up its forecast...
Reserve Bank tops up cash rate
The Monetary Policy Committee today did exactly what the market had expected and increased the...
Reversal in risk sentiment
After a positive start to the week, risk sentiment is weaker again on the back of concerns about...
Sentiment shift supports NZ dollar
The new week has kicked off with a lift in risk appetite, with global equities markets showing...
Stagflation fears hang over markets
23.5.22 Markets remain dominated by stagflation concerns at present, with inflation at...
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