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Markets
MARKET CLOSE: NZX50 falls 1.3% in October; investors ponder smelter future, index reweighting
The S&P/NZX 50 Index fell 1.3 percent in October as the threat of Tiwai Point smelter closing weighed on electricity companies and as investors prepared for the upcoming reweighting of the MSCI index. The benchmark index was down 1.72 points, or 0.02 percent, at 10,787.82 tod...
Property
Vital's unique defensive qualities support high gearing: manager
Vital Healthcare Property Trust's gearing will rise to about 42 percent as a result of its debt-funded development projects but its manager says that isn't high for a vehicle of its type. Vital's current gearing, or debt to total assets, fell to 35.3 percent after the manager,...
Freightways signals further price hikes
Freightways has more price hikes on the cards for its express package arm as the courier and information management firm aims to fatten margins. The company raised express package prices in the first quarter and has a smaller increase flagged for the fourth quarter of the cur...
Infrastructure
UPDATE: Z Energy profit falls on Flick write-down; stock rises
(Adds comment on Flick from fifth paragraph, market conditions and investor comment to end.) Z Energy has reported a 72 percent fall in first-half net profit after writing $35 million off the value of its stake in spot power retailer Flick Electric. The write-down and tough...
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