AMP 'making the best of a bad lot'

AMP 'making the best of a bad lot'
Investment advisor Peter McIntyre says AMP’s “iconic brand” had been hurt by consistently negative news.
Dan Brunskill
Shares in financial services giant AMP jumped 5% after it announced it would spin off its private markets business into a stand-alone operation after failing to secure a buyer.The surprising share price reaction was not investor excitement about the new entity but rather was in response to a one-line addendum at the end of the announcement.“Having concluded the portfolio review, the board will restart the share buy-back of up to A$200 million (NZ$215m),” it said.The buy-back had been announced in August last year as part of a plan t...

More Markets

NZX 50 dips despite Fletcher Building's 4.6% gain
Markets Market Close

NZX 50 dips despite Fletcher Building's 4.6% gain

Pacific Edge shares gained after it said it got a step closer to Medicare approval.

Gregor Thompson 15 Sep 2025
ANZ agrees to record A$240m fine for widespread misconduct
Markets

ANZ agrees to record A$240m fine for widespread misconduct

ANZ has agreed to pay the largest penalty its Australian regulator has ever issued an entity in one go, due to failings in the bank’s dealings with both the Government and its retail customers.ANZ and the Australian Securities and Investments Commission (ASIC) will ask the Federa...

Staff reporters 15 Sep 2025
Trade Window looks to boost profile with ASX listing
Markets

Trade Window looks to boost profile with ASX listing

Trade Window is moving to broaden its investor base with a secondary listing in Australia.The Auckland-based trade software firm said on Monday that with its secondary listing, it was pursuing "the goal of increasing its profile among the broad pool of investors across the Tasman...

Staff reporters 15 Sep 2025
Banks revise economic outlooks for Q2 GDP contraction
Finance

Banks revise economic outlooks for Q2 GDP contraction

Economists now see NZ's GDP contracting in Q2, but doubt a technical recession in Q3.

Andy Macdonald 15 Sep 2025