Listed Companies
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Markets
MARKET CLOSE: Stock rally stalls as US virus response disappoints
New Zealand shares turned around an early rally as a lack of follow-through from the US on how it would respond to the covid-19 outbreak disappointed investors. The S&P/NZX 50 Index rose as much as 2.7 percent in early trading as investors recovered some lost confidence after...
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Primary Sector
Marsden Maritime warns of weaker log volumes
Marsden Maritime Holdings said reduced log volumes through Northport are likely to weigh on full-year earnings.The firm, which owns half of Northport and has interests in marinas and commercial land around the port at Marsden Point, last month reported a 20 percent lift in first-...
Property
Asset Plus to raise $100m, undeterred by market ructions
Asset Plus looked through heightened market volatility and pressed ahead with plans to raise $100 million.The company said yesterday it would sell shares at 50 cents apiece in an underwritten 1.235-for-1 pro rata rights offer to help fund two developments that would overhaul its...
Markets
Hedging holds fuel price high for Air New Zealand
Air New Zealand won't benefit from the oil price slump until the coming financial year, due to fuel hedges locked in at prices well above current rates.Jet fuel represents approximately 25 percent of Air New Zealand’s cost base and has a significant impact on company’s profitabil...
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