Stride's valuers cut $66.5m from early assessment as crisis intensified

Jenny Ruth
Tue, 23 Jun 2020

Stride Property Group said its valuers cut $66.5 million off their initial draft valuations provided in early March as the magnitude of the coronavirus crisis became more apparent, turning valuation gains into losses. In the event, the valuers cut $1.8 million off the property portfolio's value to $996.1 million. That was the major reason its bottom line net profit fell 66.8 percent to $25.3 million for the year ended March from the previous year, which had included a valuation gain of $36.5 million. Provided the coronavirus crisis doe...
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ELECTION 2020: National MP under pressure to resign after 'dirty politics' disclosures
Pattrick Smellie | Tue, 07 Jul 2020

National's Clutha-Southland MP Hamish Walker is under intense pressure to resign as a candidate for the National Party.

Markets
MARKET CLOSE: NZ shares rise with continual central bank support
Dan Brunskill | Tue, 07 Jul 2020

New Zealand shares rose for a fourth day as investors bet that further central bank stimulus and ongoing low interest rates will continue to support equities. The S&P/NZX 50 Index gained 87.52 poin...

Markets
NZ dollar treads water as covid-19 cases spike in Melbourne
Jenny Ruth | Tue, 07 Jul 2020

The New Zealand dollar was little changed after volatile trading driven by swings in China's share market but could follow its Australian counterpart lower if the state of Victoria imposes a return to...

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