Market report 25.5.22

The tone on NZX reversed today following the decision by the Reserve Banks monetary policy committee to lift the official cash rate 50bps to 2%. Though widely expected by economists as the only direction the OCR could take with inflation on the rise, the market read...

Market report 24.5.22

24.5.22 The NZ reversed direction today, and down went many of the shares that held the market up on Monday. Mainfreight shed $1.15 at $75.81, Summerset fell 20c at $10.67 and Delegat dropped 40c to $12. Freightways peeled off 36c at $10.50. Energy stocks reversed,...

Market report 23.5.22

23.5.22 The national sharemarket settled into a more normal pace today, after a weekend of reflection on the 2022 Budget, the re-emerging tourism market, prospects for a further hike in the Official Cash Rate midweek, and the March season of company reports. The...

Market report 20.5.22

  A splash of fiscal stimulus in the 2022 Budget offset another soggy day on Wall Street, when the NZ sharemarket opened today. The Dow dropped 236.94 at 31,253.13 but the NZX50 closed off the week with a 60.46 points gain at 11,267.37. There were three companies...

Market report 19.5.22

  It only takes a few hours to erase euphoria and instal fear these days on Wall Street. Major US ports are readying for a surge in consumer imports for the summer shopping season but the rising costs of freight and fuel are trimming retail margins. When the...

Market report 18.5.22

There was a rosy start to the day’s trading as American markets rallied, the Dow finally closing 431 points higher at 32,654, +1.34% The NZ March results report season picked up a little speed, with two companies posting FY22 details today: Investore and Argosy while...