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

NZ sharemarket rises as Infratil, Spark drive gains
Markets Market close

NZ sharemarket rises as Infratil, Spark drive gains

New Zealand shares ended firmer after Infratil and Spark posted gains.

Jamie Gray 27 Jun 2025
Rua Gold secures funding to step up hunt for NZ gold
Markets

Rua Gold secures funding to step up hunt for NZ gold

The funds will be used to carry out exploration over the next 12 to 18 months.

John Anthony 27 Jun 2025
Former CBL CFO must pay $1.2m for disclosure breaches
Markets

Former CBL CFO must pay $1.2m for disclosure breaches

The case was a first for New Zealand courts, FMA says.

John Anthony 27 Jun 2025
Investore buys New Lynn Bunnings site for $43 million
Property

Investore buys New Lynn Bunnings site for $43 million

Investore Property has struck a deal to acquire the Bunnings complex in New Lynn, Auckland.The company told the market on Friday it had entered an unconditional agreement to acquire the property for $43 million.The 2.2-hectare site at 2–12 Titirangi Rd features an 11,000sq m buil...

Staff reporters 27 Jun 2025