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...

  The NZ sharemarket closed for the week on a sluggish note, following another night of indices falls on Wall Street, and impacted by a sharp decline by F & P Healthcare.. The global price for WTI crude oil was at US$77.57 / bbl. Gold soared US55.40 at US$4,355 an oz. The NZX50 fell 133 points to 13,824.13, with 52 decliners to 30 gainers.  Auckland Airport fell 22c to $8.76, Mainfreight 67c to $69.33 and Westpac dropped 512c at $45.58. ANZ traded down 33c to $45.17. EBOS shed 16c to...

With some US markets sliding overnight as the financial market community awaited further news around the status of Middle East negotiations, the NZ market also stepped back today,. The NZX50 fell 39.12 at 13,958.06, while in Australia the ASX All Ords moved 46.50 points upwards at 9451.00. The US markets were mixed with the Dow Jones gaining 263.24 at 54,349.12, but the Nasdaq market drooped 221.56 at 26,363.44 and the S& P 500 losing 12.97 at 7723.55. Westpac fell 2c at $46.09 and...

The mood on NZX shifted again today, back to being slightly bullish.  Global market investors taking their cues from Wall Street perhaps, or maybe a gold medal to the Silver Ferns turned sentiment around, but back the market came roaring. The NZX50 rose 75.65 points at 13,774.93 while across in Australia the market rose 41.40 points at 9178.40. Oil prices declined slightly, the WTI at US$79.99 a barrel, down -5.55%, and Brent trading at US$84.06, -4.4% on weekend prices. Gold tracked the other...

The New Zealand sharemarket was out of sync with other equity markets as it fell 63.50 on the NZX50 at 13,699.28 in thin trading that saw falls (39) almost match declines (44). The ASX All Ords rose to 9137.00 today, while overnight in the United States the various indices recorded a sharp rebound after heavy selling hit shares midweek. The Dow Jones rose 613.92 at 52,208.06. The S&P 500 gained 121.48 to 7347.83 and the Nasdaq market put on 679.24 points at 25,127.18. The NZX falls were...

  The sharemarket can act in a quite contrarian way at times – today oil prices firmed up again as the US resumed a hot war but local equities were also running hot, all the way to a new record by the NZX50 Gross Index.  The NZX50 jumped 114.74 points to attain 13,976.67, +0.83%. Too soon to call a surge above 14,000 as profits will be taken before the weekend if normal investor behaviour prevails. The major  gainer of the day was F&P Healthcare, which rose $1.00 in share price at...

The NZX market made a solid start to the trading week, despite the weekend lift in local fuel costs flowing from the higher crude prices for oil over the past week. There was a calmer tone to oil markets today after the halt to mutual attacks by the US and Iran: WTI traded down 5.25% at US$84.62 and Brent crude was down 5.1% at US$91.88/ bbl. The NZX50 closed up 24.09 points at 13,796.38, even though falls out-numbered gains 45 to 38.  In Australia the ASX All Ords jumped 110.60 to close at...

Equity markets climbed high today despite new tensions in the Middle East forcing the price of Brent crude oil above US$90/bbl.   The New Zealand market tucked in behind a bullish session on Wall Street to record a 107 point rise by the S&P NZX50 Gross Index at 13,673.18.  In Australia the ASX All Ords was up 28 points to 9004.90. The US market saw stocks rally across all leading markets, the Dow Jones Industrial rising 386 points at 52,224.64, while Nasdaq jumped 329 points at 25,837.21. ...

Concerns that fuel prices may move higher than they have in recent days helped to check enthusiasm on NZX today. Another negative factor was the annualised CPI rate of 4,1% following a blip upwards.  Fuel prices are a significant driver but other costs such as in construction materials and accommodation were also factors. The assumption is that higher inflation will persuade the RBNZ to impose a further hike in the Official Cash Rate at its September monetary policy meeting. The mixed...

    The deteriorating position in the Persian Gulf War has sent oil markets soaring and equity markets plunging over the weekend and the pattern was repeated today.  Iran has widened its attacks on US bases in the Middle East and the US has intensified bombing of infrastructure in Iran. Various governments have begun to pivot towards increased in-country exploration and Canada has launched a new pipeline to lessen dependency on the US. Wall Street indices fell on Saturday NZ Time and...

  The NZ sharemarket had a fairly subdued day as concerns about any inflation impacts from the suddenly higher fuel costs prevail. The situation in the Middle East does not appear to be alleviating- but has not been worsened – the Football World Cup in the US has been a large distraction! In the US financial markets saw a lower US dollar – again as inflation concerns amount – and the fortunate back-down by the White House on the rather random idea of slapping a ‘protection fee’ on...

Against the background of rising fuel prices – as the tension in the Persian Gulf tightened up oil prices on global markets – the NZX market had a flat trading session. The NZX50 fell 15.15 points at 13,635.07. In Australia the ASX All Ords gained 33.30 at 9,034.60. The NZX50 reflected a degree of caution, as there are observations that a spike in inflation would mean higher official interest rates. ASB and ANZ tightened mortgage lending rates today. Gold dropped $40.40 an oz to US$4,029.30. ...

The spotlight was back on the deteriorating situation in the Persian Gulf, after an unexpected social media decision by US President Trump’s to impose a 20% toll on all non‑Iranian cargo transiting the Strait of Hormuz. The US also reinstated an “Iranian blockade” that targets only Iranian ships and their customers. Energy markets reacted quickly. WTI surged about 9% to near US$78/bbl and Brent rose more than 9% to around US$83/bbl, while Asia‑Pacific refining margins and jet fuel prices also...

The NZ sharemarket opened the trading week rather lamely today with the NZX50 sinking 62.47 points to 13,723.20 despite a fresh takeover providing some positive momentum. 2 Cheap Cars were out on notice of a takeover bid from major shareholder Sena & Co, which will seek full control and is expected to 80cps. The 2CC share price rose 12c today at 78c, a gain of +18.2%. Rua announced a sales and distribution deal in the UK that will produce $10m of new revenue over two years. Gainers were...

The NZX market has cruised into the weekend with a strong session on Thursday, having had the air cleared by the Reserve Bank’s tiny 25 basis points lift in the official cash rate yesterday. The incremental approach has gone done well with equity investors – gone are the large OCR movements of the Covid era and in play some cool-headedness related to getting in front of any 2027 inflationary impetus. The NZX50 reflected a contest between gainers and decliners (as we have seen all week);...

Equity markets pulled back today as maritime conditions in the vicinity of the Strait of Hormuz deteriorated. Iran attacked three commercial vessels sailing near the coast of Oman and also at US bases in Kuwait and Bahrain. The US Central Command confirmed it had made retaliatory air attacks on Iranian coastal assets. The NZX50 index backed away from the record levels set earlier this week, today dropping 97.61 points or ).71% at 13,665.18. In Australia the ASX All Ords fell below the 9,000...

  The NZX sharemarket had a very quiet session today as storms swept New Zealand and many Kiwis were travelling on holidays. The major news of the day was the lapse of the Floorscape scheme of arrangement for Bremworth, after the board recognised no need to extend the Scheme timeline following shareholder resistance reaching 38% opposed. A group of shareholders representing in aggregate approximately 38% of shares, including interests associated with David Ferrier, as well as the Timpson,...

  The NZ sharemarket shot out of the blocks today with several leading stocks turning in strong performances by final bell. The NZX50 index gained 144.68 points at 13,763.10 – equivalent to +1.08%. In Australia the ASX All Ords slipped 11 points to 9,027.00 Bremworth shares dropped 14c or -15.7% to 75c today after the company advised NZX that the company’s largest shareholder, Ferrier family interests, has advised it is not in favour of the proposed scheme of arrangement soon to be out to...

  The New Zealand sharemarket had a strong finish to the trading week, with the NZX50 gaining 36.23 points at 13,618.42.  In Australia the ASX All Lords finished up 117/40 at 9048.30 as gold shares benefitted from a higher global market. Gold rose US$62.90 to US$4.188.60/oz as the US dollar weakened on US jobs data. In the US, the drift from technology issuers to industrials continues, with the Dow Jones gaining 594.83 today to attain 52,900.07. The S&P 500 was level at 7483.24....