Headliner issue 9 July on site. Access from Home page
The latest edition of The Headliner, dated 9 July 2926, is now on site. Access from Home page
Reserve Bank moves off ultra-low OCR
8.7.26 The Reserve Bank lifted the Official Cash Rate (OCR) 25bp to 2.50% today. The the decision was reached by consensus among the members of the Monetary Policy Committee. Banking economists had been at variance leading up the decision. The BNZ commented at the start of the day "The RBNZ is widely expected to begin its tightening cycle today with a 25bp OCR increase to 2.50%, although a small minority of economists expect no change. Assuming the Bank delivers, the accompanying messaging...
Taiko raises new capital
8.7.26 Tāiko Critical Minerals has completed a $7 million equity raising by way of a placement to wholesale investors. These funds will provide working capital as the company advances the Barrytown Minerals Project in Westland through definitive feasibility, Fast-track consenting, OIO approval and towards construction. The company is now opening a share purchase plan to be offered to eligible New Zealand shareholders with an issue price of $0.25 per share, capped at $50,000 per shareholder....
a2 Milk updates on supply chain and outlook
7.7.26 The a2 Milk Company has provided a supply chain update in relation to its China infant milk formula (IMF) business and an update on its preliminary unaudited FY26 results. Supply chain update On 13 April 2026, the company provided a Trading, Supply Chain and Outlook update that noted shortfalls of China label IMF product at distributors and retailers that would materially impact in-market product availability during 4Q26. These product shortfalls were due to a number of factors,...
Earlier resumption of upturn
6.7.26 It has been an uncertain time – and still is – but extremely high oil prices now look to be behind us, says ASB chief economist Nick Tuffley in launching the bank’s latest quarterly economic outlook. “It would only take one “Orange Swan” event to unravel this ceasefire. Still, we are more convinced that one way or another a deal that enables some degree of shipping to transit the Gulf of Hormuz will hold enough, even if some parties are “Winning” more in the Charlie Sheen sense than a...
Opposition to Bremworth scheme
6.7.26 Bremworth has received a letter from David Ferrier and shareholders associated with Mr Ferrier, collectively representing 19.413% of the shares in Bremworth, indicating that they intend to vote against the proposed scheme of arrangement with Floorscape. Bremworth also received communications from Terry Harrison, as trustee for the TR Harrison Securities Trust, “purporting to represent holdings of ~2.4% of the shares in Bremworth, indicating that those shareholders intend to vote against...
THL grants due diligence
3.7.26 Tourism Holdings today lodged a further update following the 12 June 2026 announcement in which the THL board agreed to grant due diligence access to the consortium of BGH Capital (BGH) and the family interests of Luke and Karl Trouchet (the consortium), subject to entry into an appropriate confidentiality agreement. THL has now executed a confidentiality agreement with the consortium. The consortium will now be granted access to commence its due diligence investigations in respect of a...
Panel eases access on lake storage
3.7.26 Meridian Energy has received the Fast-track Panel’s final decision confirming the easing of access restrictions on Lake Pūkaki hydro storage for a three-year period. Chief Executive Mike Roan says the easing of access restrictions will reduce dry-year risk and related price impacts through to Winter 2028, providing extra insurance for the system while more new generation capacity is constructed. “Hydro generation provides around 60% of the country’s electricity and offers storage that...
ANZ lean towards OCR increase
1.7.26 ANZ Bank expect the RBNZ to raise the Official Cash Rate (OCR) 25bp to 2.50% next Wednesday. “In uncertain times, it’s all about risk management, “said chief economist Sharon Zollner. “With the OCR still 75bp below the RBNZ’s central estimate of neutral, growth conditions supportive, the NZD much softer than assumed, and inflation set to sit above the band for a period, it’s sensible to get a hike under the belt, despite the sharp fall in oil price.”
Solid platform for rental growth
23.6.26 With the majority of the portfolio income subject to fixed or CPI‑based rent reviews, Kiwi Property has a solid platform for future rental growth, shareholders were told at today’s ASM “As a business, our goal is to deliver sustainable earnings growth and we target 3% average annual dividend growth over time,” said chairman Simon Shakesheff. “For FY27, we are guiding to a full year dividend of 5.75 cents per share. This represents 2.7% growth on the prior year, and average annual...
Improving trend for 2 Cheap Cars
19.6.26 2 Cheap Cars Group Limited (NZX:2CC) today provided an encouraging update on its recent trading performance. As outlined in the FY26 results on 29 May 2026, trading momentum improved materially through the second half of FY26. This was driven by stronger vehicle margins, improved procurement conditions, disciplined cost control and robust finance and insurance penetration rates. This momentum has continued into the early part of FY27. The company recorded net profit after tax (NPAT) of...
Sale of NZ Farmers Livestock
18.6.26 Allied Farmers has confirmed that the final adjustment statement for the sale of the New Zealand Farmers Livestock Ltd (NZFL) business has been agreed and its’ 67.7% share of this amount has now been received. Allied received its $5.814 million share of the purchase price under the sale agreement in 1H26. In 2HY6 the NZFL vendors have received additional adjusted purchase price and other contractual amounts, of which Allied’s share is approximately $2.40 million. A final amount of...
Confidence bumpy – help on the way
17.6.26 Consumer confidence fell sharply over the past few months as the impacts from the war in the Middle East have rippled across the global economy through to wallets here in New Zealand, noted Westpac this morning. Westpac senior economist Satish Ranchhod said, “Our Westpac-McDermott Miller Consumer Confidence Index dropped 14.3 points in the June quarter to just 80.4. “That’s the lowest level since 2023 (a level below 100 indicates that there are more households who are pessimistic about...
Precinct sells half of PwC Tower – enters $600m deal
16.6.26 Precinct Properties Group has entered into an agreement to sell a 50% interest in PwC Tower, Auckland, and to establish a new investment partnership with PAG, a leading global investment firm. The deal has a headline value of $600m. Scott Pritchard, Precinct’s CEO, said, “We are pleased to confirm the sale and establishment of a new investment vehicle, and to be growing our relationship with an existing capital partner. “The transaction is highly consistent with our strategy to recycle...
Scott Technology Expands Mining Automation
16.6.26 Scott Technology (NZX:SCT) has secured a major contract to deliver an Automated Modular Solution (AMS) crush cell for one of the world's largest testing, inspection and certification providers, marking its first deployment of this new technology into a large-scale commercial minerals laboratory. The contract extends Scott's Rocklabs AMS platform beyond on-site mine applications into the broader testing services market, a significant step in the platform's commercial expansion. Scott...
Delegat update sends shares +14%
16.6.26 A highlight on the NZX trading session today was the 14% or 54c price leap by wine exporter Delegat Group to $4.16 a share. Delegat provided an update on its earnings expectations for the year ending 30 June 2026. The group continues to forecast global case sales of 3.3 million cases for the year, with stronger annual global case sales performance, particularly in the final quarter. Other positive factors are: lower US tariffs on shipments from February 2026, which have remained in...
Oceania considers bond offer
Oceania Healthcare Ltd is considering making a secured fixed rate bond offer of 6 year fixed rate, secured, unsubordinated bonds (Bonds) to institutional investors and New Zealand retail investors. Full details of the bond offer will be released upon the offer opening, which is expected to be in the week commencing 22.6.26. Oceania has appointed ANZ Bank New Zealand as Arranger, and Bank of New Zealand, Craigs Investment Partners and Forsyth Barr, together with ANZ, as Joint Lead Managers in...
Trump declares ceasefire deal done
Monday 15.6.26 News from Washington DC that the outline of a peace agreement between the US and Iran has been agreed sparked a positive futures market reaction on US markets but a brief lift only on the NZX morning session. The US markets are closed until this evening – but will open cautiously. The ceasefire agreement is good news but brief. In New Zealand, where markets were among the first to open for the week, the NZX 50 jumped on opening to it reach 13,525 at noon, but then the ASX...
Scott Tech expands MHL globally
9.6.26 Scott Technology has secured several multimillion-dollar Materials Handling & Logistics (MHL) contracts across Europe and North America with a total value over NZ$12 million These contracts are supporting continued growth with key customers and expansion into adjacent food processing sectors. They include an extension order with Dutch vegetable processor Bakker, a new palletising installation for a large-scale frozen potato facility in Canada, and an integrated palletising and...
HEADLINER NZX Market Report 8.6.26
The progress of the NZX was closely watched today, after US markets shot backwards on Saturday NZ Time, with rising concerns over several factors (a) higher US jobs growth signalling a risk inflation will also rise (b) no end in sight for the Iran War (c) the pace of investment into A.I stocks is conflating the cyber security risk from machines. The huge SpaceX IPO will open later this week. The NZX opened today with a thud as investors sold off; but by 3.45pm the market had clawed...
Synlait making progress on loan replacement
Synlait Milk is progressing with discussions with existing and new lenders about the refinancing of its senior syndicated bank facilities (Senior Facilities) that mature on 30.6.26 and says it remains on track to complete that refinancing on that date. Discussions are continuing towards securing the required support and approvals under the facilities. One of the requirements of the new Senior Facilities lenders is that the $130m shareholder loan that Bright Dairy International Investment Ltd...
Ryman making $100m+ bond offer
8.6.26 Ryman Healthcare is offering up to NZ$100m (with the ability to accept up to an additional NZ$50m of oversubscriptions at Ryman’s discretion) of 6 year fixed rate, secured, unsubordinated bonds maturing on 22.6.32 to institutional investors and New Zealand retail investors. The offer opens today and is expected to close on 11.6.26, with the bonds expected to be issued on 22.6.26 (Issue Date). The indicative issue margin range is 1.80% to 1.90% per annum over the swap rate, subject to a...
HEADLINER NZX MARKET REPORT 5.6.26
The trading week on NZX finished on a recovery note with the NZX50 gaining 60.36 points to 13,161.97. Mainfreight muscled to the top of the gainers list with a 70c upwards jolt to land on $63.21. EBOS gained 61c to $20.11, Fisher & Paykel Healthcare rose 34c to sell at $37.18, and Infratil added 22c to $15.42. Turners Auto gained 10c to $8.12. There were 36 gainers and 43 falls. The biggest fall was made by Westpac dropping 54c to $42.06, while ANZ shed 39c to $41.16. South Port...
Meridian gets draft approval on storage
Meridian Energy has welcomed the Fast-track Panel’s draft decision proposing the easing of access restrictions on Lake Pūkaki hydro storage for a three-year period. Meridian sought approval under the Fast-track Approvals Act to allow access to water stored between 518 and 513 metres above sea level prior to the point where Transpower estimates there is a 4% risk of electricity shortage. Meridian added that it also respects and appreciates the views of commenters in the Fast-track...
Me Today China partner stepping up
Me Today Ltd advised NZX that its China partner has given notice to take its ownership in the Me Today China brand to 40%. As advised on 1 July 2024, Me Today signed a full suite of commercial agreements with a large Chinese Sports Nutrition Company. The licence agreements provide for payment of a licencing fee over a period of 10 years to Me Today based on revenue earned in greater China by the licensee. The agreements also allow for the licensee to progressively acquire up to 50% of the...
Pacific Edge capital raise over-full
Cancer diagnostics company Pacific Edge has made a well oversubscribed capital raise. It targeted a raise of $31.4m, at $0.17 per share, based on a NZ$25.4m placement and a $6m retail offer, with the ability to accept over-subscriptions at PEB’s discretion. The Retail Offer closed on May 28 2026, with total applications for $46.0m of new ordinary shares. In recognition of the strong retail offer support, the directors have resolved to accept $4.7m of oversubscriptions to raise $10.7m...
Death of MOVE founder
3.6.26 MOVE Logistics Group advised that founder and former managing director, Jim Ramsay, has passed away. The company stated, “ Jim was a pioneering figure in the Zealand trucking and logistics industry, and his vision and leadership helped shape MOVE into the nationwide business it is today. “ Jim had a decades-long association with the trucking industry. He worked for New Plymouth-based trucking firm Hookers Bros from 1968, before forming a partnership to buy the company in 1988 which, at...
Green Cross plans medical division sale
2.6.26 Green Cross Health has entered into a conditional sale and purchase agreement to sell its Medical division (trading as The Doctors) to Tend Health. The transaction is valued at $270 million, subject to certain adjustments, including for net debt and net working capital. The Doctors serves the largest enrolled patient base in New Zealand, with a network of 65 clinics delivering co-ordinated primary care to more than 400,000 enrolled patients. Tend Health is also a primary care provider...
Air NZ increases capacity
2.6.26 Air New Zealand reports that group capacity increased 2.4% in April compared with the prior year. Long-haul ASKs rose 0.3%, while domestic capacity increased 2.2%, supported by two additional A321 aircraft in operation compared with April last year. This was partly offset by targeted capacity reductions following the sharp rise in jet fuel prices after the conflict in the Middle East. Short-haul international capacity increased 6.9%, driven by the introduction of two new A321 aircraft....
Heartland & TSB plan merger
2.6.26 Increased scale is the objective of a merger of NZX-listed Heartland Bank and TSB Bank sprung on the market when NZX opened this morning. Heartland Group Holdings (NZX/ASX: HGH) has signed a conditional merger implementation agreement (MIA) with Toi Foundation and Toi Foundation Holdings Ltd to merge Heartland Bank and TSB Bank. Under the proposed transaction, Heartland will acquire from Toi Foundation all TSB shares on issue for an aggregate consideration of $620 million. Immediately...
