Headliner NZX Market Report 11.8.26
The NZ sharemarket was close to equilibrium today despite patchy prognostications about whether there is or isn’t a peace deal ahead in the Iranian War that all participants can accept. As the day wore on hope faded of such a positive outcome that might see the return to greater numbers of vessels through the Strait of Hormuz; oil prices moved higher and equities moved lower. Brent crude lifted by US$1.70 to US$89.42/bbl and WTRI rose US$1.65 to US$83.79/bbl. On Wall Street indices...
M & C books a strong first-half
Hotel owner and operator, Millennium & Copthorne Hotels New Zealand has posted strong unaudited results for the June half-year. Chairman Colin Sim was pleased by the increase in hotel revenue following a strong first quarter with that positive momentum carrying through into the second quarter. “Despite ongoing global uncertainties, our hotels have done well over the past few months and we are pleased that the results we are announcing today reflect the hard work our teams have put in...
PGG Wrightson score with big result
11.8.26 Rural services group PGG Wrightson has delivered a stronger financial performance in FY26 compared to FY25 with the primary sector performing well across several divisions. Operating Revenue of $1.1 billion was up $99.0 million and Operating EBITDA of $64.3 million was up $8.2 million on the prior year. Net profit after tax (NPAT) of $15.6 million was up $4.9 million or 46%. PGW Chair, John Nichol, said “PGW delivered a stronger financial performance in FY26 compared to the prior...
CDL Investments has steady half year
CDL Investments New Zealand released its unaudited results for the six months ended 30 June 2026 with reported profit for the period of $3.39 million (2025: $3.57 million). Recorded property sales, rental and other income eased to $12.55 million (2025: $13.81 million). Board chair Desleigh Jameson said the result was broadly in line with expectations and reflected the challenging property market conditions. “As indicated at our Annual Shareholders Meeting in May, CDI expected 2026 earnings to...
Headliner NZX Market Report 10.8.26
The New Zealand equities market had a strong opening to the new trading week – partly propelled by the regional response to further Wall Street records over the weekend. On Saturday NZ Time, the Dow Jones closed 151 points higher at 54,636, the S&P 500 up 47.68 to 7757 and the Nasdaq market jumped 342.21 to 26,690. In the perverse way the equity markets were responding to negative news, in this case a fall off in US jobs growth data that will lessen the likelihood of inter rate rises. The...
Bremworth shareholders coalesce in lock-up
Carpet manufacturer Bremworth told NZX that a substantial product holder notice has today been filed with NZX by David Ferrier, Henry Lawford Lonsdale Ferrier and Mangawhai Collective Ltd, acting in concert ("Mangawhai”). The notice advises that Mangawhai has entered into lock-up deeds with shareholders representing 32.241% of the ordinary shares in Bremworth, whereby those shareholders have, if Mangawhai chooses to make a partial takeover offer on the terms described in the lock-up deeds,...
Housing sector flat but economy rising regardless
10.8.26 The New Zealand housing market remains in the doldrums. And there appears little respite ahead, says BNZ Markets. BNZ head of strategy Stephen Toplis says this is due to a combination of: inflationary pressure on real disposable incomes; rising unemployment; supply increases; poor rental returns; General Election uncertainty; and the gradual removal of monetary stimulus. “That’s why we are forecasting next-to-no increase in prices over the remainder of this year. “There are many who...
Manawa deal helps lift Contact FY26
10.8.26 Contact Energy’s significant increase in net profit of $423m in FY26 – up 27.8% - and operating earnings (EBITDAF) of $1,011m was helped by the acquisition of Manawa Energy from 11 July 2025 contributing to the uplift in earnings. The improved operating result was driven by a significant lift in renewable output, up 2.9TWh including PPAs, with total output 98% renewable in FY26. This reflected the addition of the Manawa hydro assets and it’s contracted PPAs (wind and geothermal), which...
Contact teams up on datacentre prospect
10.8.26 Contact Energy has teamed up with the Infratil associated CDC Data Centres to explore development of a potential data centre at Stratford, Taranaki. Contact and CDC will seek resource consent for a 250 MW data centre1 to be built near the site of Contact’s Taranaki Combined Cycle gas power plant (TCC), retired earlier this year having reached end-of-life. It would be supported by co-located battery storage development. “It is our intention that electricity for the proposed facility...
MARKETWEEK: Different reactions to jobs data
Warren Head The New Zealand market has stopped trying to second guess the direction of oil geopolitics and prices but continues to track in the shadow of Wall Street markets. At this stage of the June year reports season the market is still relatively thin on new information. The NZX50 finished the week headed lower (0ff 133 points on August 7) but overall the week was positive by 124 points at 13,824.13. In Australia the ASX All Ords landed on the weekend exactly 308 points higher for...
