The Latest
Ryman Healhcare to seek new CEO
Ryman Healthcare CEO Richard Umbers has resigned his position as Group CEO and will be leaving the company. Umbers is leaving Ryman in accordance with his contractual terms. Chair Dean Hamilton is to act as Executive Chair and a search for the next Group CEO will...
Air NZ slashes earnings guidance
Earnings turbulence for Air New Zealand trims guidance 22.4.24 Economic conditions and tough competition on international routes are among the negative currents impacting Air New Zealand, which has today slashed earnings guidance. In February 2024 Air New Zealand...
Sena moves to CEO of 2 Cheap Cars
22.4.24 2 Cheap Cars Group CEO, Paul Millward has resigned, with founder and majority shareholder David Sena taking over as CEO from 1 June 2024. At the September 2023 Annual Shareholder Meeting, shareholders voted overwhelmingly in favour of a transaction which saw...
New gas supply critical to energy security
22.4.24 9.39am Energy security remained critical for New Zealand during the energy transition of the country, Genesis Energy chief executive Malcolm Johns said in releasing a market update today on third quarter electricity sales. The Huntly Portfolio demonstrated its...
Kiwi dollar at fresh 2024 low
Global equity markets traded lower on Friday, but pared the worst of the losses that came amid a sharp rise in investor risk aversion following news that Israel had launched retaliatory strikes against Iran, says BNZ Markets this morning. “Risk sentiment recovered...
MARKETWEEK: Equity market stuck in a dusty rut
20.4.24 Warren Head Kiwi investors might be excused for thinking that they belong to a Flat Earth Society, as the nation struggles with low growth, high costs and an oscillating equity market. The NZX50 finished the week at 11,796.23, for a weekly drop of 135 points. ...
NZ Market Report 19.4.24
Equity markets are in a state of dejection, the penny having dropped that central banks by necessiry will hold interest rates higher for longer – meaning 2025. The general sentiment is tilted towards a slow slippage in share prices. On the NZX market there were few...
Subscription kick for ikeGPS
19.4.24 A fourth quarter leap in subscriptions was the highlight of quarterly and FY24 results posted by ikeGPS this week FY24 Highlights: + Revenue of ~NZ$21.1m (-31% pcp). + Subscription revenue of ~NZ$10.7m (+22% vs pcp). + Transaction revenue of ~NZ$7.3m (-61% vs...
Strong US dollar caps Kiwi
Newsflow has remained light, generating modest movements in asset prices, says BNZ Markets this morning. “US equities are down modestly while US Treasury yields have pushed higher, with a stronger Philly Fed survey and hawkish Fed-speak not helping.,” notes Jason...
NZ Market Report 18.4.24
The NZ sharemarkets had a quiet trading session, culminating in a 39 points drop to 11,836.04 by the NZX50 index. Overnight, the Dow ones eased off 45.66 points at 37,753.31. Trade Window CEO JP Smith made an impassioned statement to investors this morning including...
Market Trends
NZ Market Report 16.4.24
The NZ sharemarket became caught up in the wave of uncertainty flowing off major...
NZ Market Report 15.4.24
The NZX market proved to be very resistant to following global markets into an over-reaction to...
NZ Market Report 12.4.24
The sharemarket had fair degree of activity despite the adverse weather which slowed major cities...
NZ Market Report 11.4.24
The NZ sharemarket kept its decline today to only 37.61 points at 11,934.31 after the Wall Street...
Market moves forward after MPS
The release of the Reserve Bank’s monetary policy statement – coupled with a no change decision on...
NZ Market Report 9.4.24
The run-off of share valuation continued on NZX today, slightly deeper on the downside at 56.81...
Overseas Sharemarkets
US rates high for longer
17.4.24 Global bond markets remained under pressure overnight, notes BNZ Markets this morning. “US...
Cautious tone on financial markets
Markets continue to trade with a cautious tone, with Israel vowing to retaliate against Iran’s...
Risk aversion on financial markets
Risk aversion gripped global assets markets into the end of last week amid rising geopolitical...
High CPI nudges Kiwi dollar up
There is a modest risk-off tone in the air, with US equities weaker, US Treasury yields lower,...
CPI down but unconvincing
Annual CPI inflation has decelerated from 4.7% to 4.0% y/y in the first quarter of 2024 but the...
US rates high for longer
17.4.24 Global bond markets remained under pressure overnight, notes BNZ Markets this morning. “US...
Cautious tone on financial markets
Markets continue to trade with a cautious tone, with Israel vowing to retaliate against Iran’s...
Risk aversion on financial markets
Risk aversion gripped global assets markets into the end of last week amid rising geopolitical...
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