NZ shares still have distance to climb, says Milford

Tue, 29 Jan 2013

Jan 30 (BusinessDesk) - Fears the New Zealand sharemarket is becoming over-valued as it continues last year's run into the new year are over-stated, and the market is "far from frothy", says Milford Assets portfolio manager Mark Warminger. Writing in the fund manager's blog, Warminger says the last few years have been tough for corporate earnings and that even though analysts know earnings have stabilised, they are too reluctant to forecast improved profits as the six monthly earnings reporting season looms next month. "We believe that earnin...

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