Headliner NZX Market Report 15.1.26
A soggy day across the country was replicated on NZX, with the NZX50 index slipping 97.92 points to 13,659.79. Several leading stocks backtracked today with large scale asset owner Infratil carving off 41c to drop 3.53% at $11.19. Summerset came back 32c to $12.28, a fall of 2.6%, while Ryman Healthcare was two cents lower at $2.47 after a steady sales report. Ryman Healthcare reports 375 sales of retirement living occupation right agreements (ORAs) for 3Q26, including 101 new sales and...
Headliner NZX Market Report 13.1.26
A pronounced positive shift in general business confidence that emerged from the latest NZIER business opinion survey was unable to spill over into NZX trading today. Business sentiment rose to +39% in December, from +17% in September – the highest reading since March 2014. Firms’ own activity was a net -3% in December, up from -15% in September quarter. “While this was still a little below the long-run average, it was the highest reading since September 2022,” said Michael Gordon,...
US market nervous on tech stocks
15.12.25 US equities ended last week lower, with technology leading declines as investors pared back exposure to AI-related names. The Dow Jones slipped 0.5%, while the S&P 500 dropped 1.1%, and the Nasdaq slid 1.7%. Devon Funds notes this morning that Wall Street selling was concentrated in large-cap tech stocks. “Broadcom slumped 11% on cautious guidance, compounding the hit from Oracle’s earlier post results slide and reigniting worries about an overheated AI trade, retriggering a...
Wall St optimistic on trade deal
28.10.25 US equities have been supported following benign US CPI data released on Friday, and hopes of a trade deal between China and the US at a summit meeting later this week. There are reinforced expectations for a 25bp rate cut when the US Federal Reserve meets later this week. “The US dollar is little changed and treasury yields are modestly higher,” says BNZ Markets’ Stuart Ritson this morning. The Dow Jones has climbed 337.47 overnight to close at 47,544.59. The S & P 500 added...
NASDAQ at record level
9.9.25 The Nasdaq Composite notched a new record high Monday, powered by a rally in major tech names and “growing conviction among traders that the Federal Reserve will cut interest rates,” comments the UK financial firm deVere group. The Nasdaq climbed 0.45% to close at 21,798.70, its highest ever. The S&P 500 rose 0.21% to 6,495.15 and the Dow Jones Industrial Average gained 0.25% to 45,514.95. The moves come as investors digest Friday’s weak nonfarm payrolls report, which highlighted...
NZX Market Report 12.8.25
A wintry draught went through the NZ sharemarket today, taking the NZX50 index down by152.18 points to 22,759.68. In Australia, by contrast, the ASX All Ords gained 32.70 to 9,150.30. In the US overnight more controversy did not sit well with Wall Street. As the White House used emergency powers usually reserved for matters of extreme risk such as an invasion, to install National Guard troopers on the streets of Washington DC to crack down on crime. It looks more like posturing prior to...
Kemira downgrades outlook
11.7.25 The Helsinki-based chemicals group Kemira has downgraded its outlook for 2025 following the continued demand softness in the packaging and pulp customer industry. Kemira is a global leader in sustainable chemical solutions for water-intensive industries The US dollar’s significant weakness since the beginning of the year is having a negative impact on Kemira’s revenue and profitability. The negative impact is expected to continue during the second half of the year, assuming the current...
NZX Market Report 10.7.25
The NZ sharemarket failed to respond to the euphoric atmosphere on American markets today and drifted 8.41 points down to 12,760.20. This may be a reaction to a rarher sober OCR decision yesterday with the conservative view that inflation is a bit too high for comfort. Nevertheless, economists were forecasting a rates reduction in August from the Reserve Bank. In the US, a record busting day on the Nasdaq which rose to a new high 20,611.30 with a 192 leap was the highlight – its pace...
Markets looking more stable
30.6.25 The S&P 500 and NASDAQ markets closed at fresh record highs on Friday US time; Equities dipped temporarily after news that President Trump had terminated trade discussions with Canada in response to the country’s planned implementation of a digital services tax targeting American companies, noted BNZ Markets. “A late rebound saw the S&P close 0.5% higher aligning with the solid gains made by European indices. Treasury yields were little changed, and the US dollar was mixed...
NZX Market Report 27.6.25
The recovery phase gathered momentum on financial markets today. The NZX50 gained 103.54 to reach 12,583.59, a gain of +0.83%. In Australia, however, the ASX All Ords shed 30 at 8743.60. There were only two falls of any size, Westpac losing 48c at $36.72 and ANZ Bank down 27c at $31.64. Mainfreight moved up 37c to %$67.37 and F & P Healthcare up by 17c to $36.57. Gentrack gained 25c to $12.40 and Infratil rose 30c to $11.70. AFT Pharma added 14c to $2.70, a gain of +5.5%. South Port...
US stockmarkets surge on Iran ceasefire
US stocks surged on Tuesday while oil prices fell heavily again as investors took the view that the ceasefire between Israel and Iran will be an enduring one, comments Greg Smith at Devon Funds. “After being frustrated by some initial breaches, and also while dropping an “F-bomb,” Donald Trump proclaimed the ceasefire was still in effect. “The President will be even less enamoured with Jerome Powell who signalled to policymakers on Capitol Hill that the central bank was in no rush to cut...
NZX Market Report 25.6.25
The NZ sharemarket continued to flow sluggishly today with the NZX50 index down 6.52 points at 12,460.96 – while US markets scorched upwards. The NZ market did carry several stocks upwards but a further fall for Auckland Airport, -9c to $7.58, and a 16c fall for Infratil to $10.25 did help the session. Fletcher Building fell a further 6c at $2.91 after its significant items setback in a market update earlier this week. Briscoe lost 15c to $5.50. However, Freightways continued its upwards...
Shares rally and oil price retreats
24.6.25 Equity markets have risen sharply and oil prices have plunged following the pull-back on the part of the Iranian government, having delivered a retaliatory attack on US bases in Qatar. The US President Donald Trump declared a "complete and total" ceasefire between Israel and Iran will soon go into force. "On the assumption that everything works as it should, which it will, I would like to congratulate both Countries, Israel and Iran, on having the Stamina, Courage, and Intelligence to...
Technology launches in the limelight
US markets pushed higher on Tuesday, with technology companies in the forefront with new products being aired The Dow Jones rose 0.25%, while the S&P500 and Nasdaq both jumped 0.6%. Intel soared 8% and Tesla rebounded a further 6%. Trade talks between the US and China are continuing into their second day in London, notes Greg Smith at Devon Funds. "Treasury Secretary Steve Bessent has been involved in the discussions, and may have another big job to do next year. "There are reports he is...
UK takeover brightens Wall Street
10.6.25 Semiconductor firms rallied on Wall Street overnight as Qualcomm announced it is acquiring London listed Alphawave for US$2.4 billion. The Dow was flat, down 1.14 points at 42,76.76. The S&P500 edged higher on Monday by 0.1%, to 6005.58. while the Nasdaq gained 0.3% at 19,591.24 (+61.24). Tesla rebounded a further 4.6%. At Devon Funds this morning, Greg Smith commented, “London is also the focus for investors generally, with the US and China holding trade talks in the UK capital....
US markets buoyed by jobs data
9.6.25 US equity markets made solid gains Friday supported by labour market data and further signs of easing US-China trade tensions. BNZ Markets notes this morning that the S&P closed 1% higher and reached the psychological 6,000 level for the first time since February, as steady employment growth helped ease concerns about an imminent slowdown. “In Europe, the Euro Stoxx index made modest gains. Treasury yields closed higher, and the US dollar gained against G10 currencies. Brent crude...
NZX Market Report 4.6.25
Markets were uniformly in buoyant shape today, the local NZX market experiencing good gains by a number of leading stocks. The NZX50 closed 167.48 points higher at 12,470.84. Vulcan Steel surged 44c or +6.4% higher to trade at $7.31, while Mainfreight drive 50c upwards to $68.46, and F&P Healthcare added 47c at $37.06. Auckland Airport was ahead by 22c to $7.72, Chorus gained 15.5c to $8.375, a2 Milk put on 33c at $8.73, (+3.93%) and Gentrack jumped 34c to $12.30. Energy stocks were...
Wall Street rally sustained
The tariff relief rally has been sustained into another day as the Trump trade tour of the Middle East continues. The S&P500 rose for a fourth day, to 591693, up 24 points, continuing the rally that has occurred in the wake of the US/China trade truce. The Dow Jones moved 271 points higher to 42,322.75 and the Nasdaq gained 16.25 at 21,416.50. At Devon Funds, Greg Smith commented, “Sentiment was also boosted by US retail sales edging up last month, and a much lower-than-expected...
NZX Market Report 15.5.25
The tariff relief rally – as is now known – has extended into a third day in tthe United States and carrying with it the Nasdaq market. The tech stock barometer rose 136 points at 19,146.81, while the Dow Jones Industrial of the top 30 stocks on the NYSE dropped 89 AT 42,051. The S&P 500 nosed 6 points higher at 5892. The NZX50 reflected a local market that has become tired of the gyrations of the US market in reaction to whatever direction US trade policy is trending on any particular...
NZX Market Report 14.5.25
The investment rally of yesterday began to fade overnight – with the exception of US stocks – and the NZX50 ended today’s trading off a touch at -0.06% or 12,779.26 – a fall of 7.48 points. EBOS was the steadying influence and rose 56c to $39.55 and Freightways picked up a further 19c at $10.79. Skellerup continued to rebuild with an 11c gain to $4.85 And Gentrack was up 10c at $12.32, as was Ventia at $5.15. Mainfreight back-pedalled 30c to $68.50 after a stout run higher in recent days,...
US markets roar upwards on US-China trade progress
US stockmarkets have roared higher following the agreement between the US and China to a 90-day pause on reciprocal tariffs and lowered baseline tariffs. The Trump administration last month set tariffs on Chinese imports as high as 145% and China responded with reciprocal tariffs as high as 125% on some US imports. The latest moves emerged from a meeting of US Treasury Secretary Scott Bessent and Chinese emissaries in Geneva. Some sardonic comment included a reference to ‘adults being in the...
US markets end a bullish week
7.5.25 American stock markets are showing some fragility in the face of uncertainty over tariffs, a mixed report season and the trend of interest rates. Overnight investors have trekked out of the key equity markets and safe havens are in demand. The Dow Jones closed the session at 40,829.10, down 389.83 or -0.45%. NASDAQ eased by 154 points at 17,689.68 and the S & P 500 was down 43.47 at 5,606.91. Gold shot US$116.10 higher to US$3,438.40 an oz. However the VIX volatility index rose but...
NZX Market Report 1.5.25
The NZ sharemarket bounced 245 points higher today setting the NZX50 at 12,148.64, with major stocks leading the mini-rally. In the US, the markets were mixed after a day when Trump hinted that tariffs could be risky, and after the US clinched a difficult and protracted ‘deal’ to buy Ukrainian rare earth metals. Nasdaq lost 14.98 at 17,446.34, the S & P 500 edged 8.23 up to 5569 and 10 year Treasuries slipped to 4.18%. Gold eased a further US$78.20 / oz today at US$3240.90/oz; oil fell to...
NZX Market Report 24.4.25
New Zealand’s sharemarket took its lead from Wall Street today, after the US markets rallied in response to signs of a softening of US trade policy. President Donald Trump said the 145% tariffs proposed on Chinese imports would likely be reduced once deals were done. China dismissed the suggestions of any trade deal in the offing but US markets surged regardless. The Dow add +1.07% or 419.59 at 39,606.57, Nasdaq gained 407 points at 16,708 and the S & P 500 rose 88 points to 5375.86. IN...
NZX Market Report 23.4.25
Another day in the 2nd term of Donald Trump and another policy wind-back brought a market rout to a halt. The ‘like-loathe’ relationship between the White House and Wall Street continued again in the past 24 hours as President Trump lightened his mood and indicated that the US would be setting lower tariffs on Chinese good than were rolled out on April 2. He also backed off his verbal undercut of Federal Reserve chairman Jerome Powell. Trump saying that he wasn’t going to fire the Fed...
NZX Market Report 22.4.25
The bells were tolling today for Pope Francis – and the financial markets as the week beyond Easter opened with increased worry about what the near future will bring. The uncertainty stirred by on –-off – and on again economic policy from the Trump-led Republican government in the US has rattled investors. The last straw – and a straight out test of not buckling in the face of bullying - was the weekend verbal assault by the White House on Federal Reserve chairman Jerome Powell. Powell...
US industrial market lower
18.4.25 One of President Donald Trump’s dawn social media missives has again rattled Wall Street markets. This time the target is Federal Reserve chairman Jerome Powell in response to the Fed head expressing concern about the potential for US tariffs to unleash a fresh round of inflation. Trump has retaliated with a call for Powell to be ‘terminated’ and is exerting pressure on him to resign ‘if asked.’ The market saw this as a line crossed in terms of executive power. The Dow Jones fell 527...
NZX Market Report 17.4.25
The New Zealand market had a solid session on Thursday to close off the shortened Easter week. The NZX50 index gained 51.07 or +0.42% to reach 12,111.99. In Australian the ASX All Ords finish 160.20 points up at 8021.90, ignoring a depressing day on Wall Street. The mounting concern over tariffs slowing global trade, tourist shunning American holidays, and freight falling off spilled over onto markets. Tech stocks had a dreadful day as investors began taking value off the table, with US...
NZX Market Report 16.4.25
Assisted by several heavyweight stocks moving higher the NZX market rose 56 points today to attain 12,067.92 o the NZX50 index. In Australia the All Ords index closed down 8.20 at 7,961.70. The US market was weaker overnight with the Dow Jones off 155.84 at 40,368.96 and Nasdaq down 8.32 at 16,823.13. Gold traded US$65.50 higher at US$3,305.90 an ounce. Oil was at US$60.50 WTI. The VIX was at 301.2, well down on a week ago EBOS began a retail share offer today, with the market price...
Tariff outlook clouds US results
16.4.25 Boeing aside, earnings releases dominated the headlines n US markets overnight. Devon Funds Greg Smith notes that Bank of America jumped 3.6% as quarterly earnings jumped 11% to US$7.4 billion and revenues rose 5.9% to US$27.51 billion. Net interest income fuelled the gains, with lower deposit costs and higher-yielding investments compared with the year-earlier period. T "he Bank’s CEO said “Consumers have shown resilience” but “we potentially face a changing economy in the future.”...
