Fonterra updates FY26 forecast
2.9.26 Fonterra Co-operative Group has advised that it expects its FY26 full year underlying earnings* to be at the top end of its previously announced range of 60-70 cents per share. “As we look to close our accounts for the year, it has become clear that we have maintained our solid performance across FY26," says CEO Richard Allen. "We therefore expect earnings to be at the top end of our full year forecast earnings range, supporting a strong full year dividend." Fonterra’s final FY26...
Headliner NZX Market Report 1.9.26
The impact of higher oil prices has spilled over into bond and equity markets, In NZ index fell 131.90 points to 13,786.90, on a listless day for news flow. In Aussie the ASX All Ords also slipped, by 10.12 to 9260.90. Global rates are higher, noted BNZ Markets, although the moves have been modest. “The US 10-year rate traded above 4.76% overnight, its highest level since January 2025. “ If the 4.8% level breaks, the next support level for Treasuries would be around a yield of 5%, last...
Headliner NZX Market Report 31.8.26
The NZ sharemarket bounded to a buoyant finish to the month of August, with the NZX50 index up 149 points or +1.08% at 13,917.30. The gain contrasted with the close last week which saw the market have its biggest fall in three months. The NZX50 rose on indications that the report season has been positive overall for actual performance, whilst company directors remain uncertain about the next few months given the looming General Election, a persistently high oil price, and the likelihood...
Recovery year for Michael Hill
31.8.26 Michael Hill International’s improved results for the June year follow strong same store sales growth across all segments, leading to a 57% increase in comparable EBIT, and the restoration of dividends. The Group has undertaken a strategic simplification of the business, sharpening its focus on its two core brands, Michael Hill and Bevilles. MHJ has strengthened retail operating discipline and decision-making, refined its go-to-market strategies and strengthened its focus on customer...
MARKETWEEK: Cost cutting a salient feature on NZX
30.8.26 // Warren Head Sharemarket investors making a judgement call on future prospects have been endeavouring to shake off the torpor of the past year yet have checked by the inevitable braking effect of election year. Meanwhile, the Persian Gulf stand-off has continued to sustain high global oil prices and freight costs, and, thirdly, New Zealand’s cash rate looks very likely to move into a short series of increases by the Reserve...
Headliner NZX Market Report 28.8.26
The NZX market moved in a downwards direction today dogged by the likelihood of higher interest rates in the next OCR review – despite leading banks pointing to an economic recovery being under way. The NZX50 fell 11.87 points at 13,768.18. -0.8%. In Australia the ASX All Ords index firmed 51.10 higher at 9294.30. In the USA, all markets swung higher after an erratic week to date. The Dow moved up by 105 to 53,569, the S&P 500 added 55.29 at 7730.99 and Nasdaq gained 411.25 at...
Fuel storage deal by Channel
28.8.26 Channel Infrastructure NZ has entered into a 15-year contract with bp for significant additional jet and diesel fuel storage at the Marsden Point Energy Precinct. The contract is expected to generate ~$130m of revenue over its initial 15-year term, prior to PPI indexation, with revenue commencing in 3Q28. Channel expects to invest ~$65–70m of growth capital expenditure across 2026 to 2028 to repurpose existing tanks and associated infrastructure for the new storage. The investment will...
Air NZ net loss reflects cost burden
Soaring costs of jet fuel depressed Air New Zealand’s FY26 financial result to the extent of causing another net loss for the airtline. AIR today announced a loss before taxation of $336m for the 2026 financial year, compared with earnings before taxation of $164m in the prior year. However, the result is slightly better than the guidance range provided to the market in May 2026. Net loss after taxation was $242m. The result was primarily driven by four factors: jet fuel prices, engine...
Strong update by Hallenstein Glasson
28.8.26 Hallenstein Glasson advised NZX today that group sales for the 12 months ended 1 August 2026 were $563.0 million, an increase of +19.6% on the prior year ($470.7 million). The directors noted the result has benefitted from a stronger Australian Dollar and on a constant currency basis, sales were up +15.6% on the prior year. Group net profit before tax is expected to be within the range of $83.0 million to $84.5 million (prior year $58.4 million), an increase of approximately +43.5%....
Headliner NZX Market Report 27.8.26
Equity markets in various jurisdictions, including New Zealand where the NZX50 shed 133.10 points to close this evening at 13,880.05, having set a new record the day prior. In Australia the ASX All Ords index fell 95.80 at 9423.20. In the United States all key indices declined, the Dow Jones dropping 113.52 at 53,483.89, the S&P 500 off 1.58 at 7675.70 and Nasdaq down 21.10 to 26,130.w20. There were 33 gainers on NZX, the best being Summerset Group which advanced 71c to $8.58, +9%,...
