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Markets News

Primary Sector Wake Up Call
Wake Up Call: Live cattle exports: has its ship sailed?
Staff reporters | Wed, 14 Apr 2021

The government is expected to announce a ban on live animal exports, with TVNZ reporting a letter to the Chinese embassy signals an end to the controversial trade.

Opinion
'That' letter from the govt to Air NZ: what's really in it?
Pattrick Smellie | Wed, 14 Apr 2021

There is a lot of nuance packed into Grant Robertson's new 'letter of expectations' to Air NZ, none of it unreasonable for the airline's majority shareholder and its ultimate guarantor.

Markets Market Close
Aussie investors spot value in A2 Milk
Dan Brunskill | Tue, 13 Apr 2021

The milk marketing firm has fallen on hard times as its daigou trade channels have dried up but an Australian stockbroker reckons it is set for recovery.  

Energy
NZ RegCo prods Refining NZ to update the market
Jenny Ruth | Tue, 13 Apr 2021

Refining NZ set its own deadline to conclude negotiations with its major customer and shareholders but the deadline came and went without any announcement.

News in Brief
Comvita ups earnings guidance
Staff reporters | Tue, 13 Apr 2021

Online sales now make up 30% of total sales for the honey brand. 

Listed Companies
SkyCity caps junkets after Aussie debacle
Brent Melville | Tue, 13 Apr 2021

The practice of bringing high rollers into casinos has now been banned at SkyCity Entertainment, on the back of a wide ranging Australian investigation into casino operator Crown Resorts. 

Environment
World first climate change law for financial firms introduced
Ian Llewellyn | Tue, 13 Apr 2021

Ministers say NZ will be the first country to introduce mandatory emissions reporting for private sector companies, as emissions continue to grow.

Economy
RBNZ won't yield on rates, housing changes may delay hikes
Rebecca Howard | Tue, 13 Apr 2021

Westpac Bank doesn't expect a rate hike until 2025, much later than other bank economists.

Finance
PaySauce March qtr recurring revenue growth slows to 30%
Staff reporters | Tue, 13 Apr 2021

PaySauce said it's now in an ideal position to scale.

Markets
WAKE UP CALL: Digital currencies and court action
Staff reporters | Tue, 13 Apr 2021

Ramadan begins in New Zealand today for Muslims. Meanwhile, the digital dollar is under consideration in the United States, with other countries including China, Sweden and New Zealand also researching its feasibility.

Markets
Pushpay squandered ‘greatest ever year’, says Forsyth Barr analyst
Dan Brunskill | Tue, 13 Apr 2021

Investors should pay attention to next month's full-year results to see how many new customers have joined the platform. 

News in Brief Market close
Shares sink on shock CEO resignations
Dan Brunskill | Mon, 12 Apr 2021

Pacific Edge and Synlait Milk both saw share prices decline as their chief executives took their leave.  

News in Brief
David Darling to step down as Pacific Edge CEO
Staff reporters | Mon, 12 Apr 2021

Pacific Edge's tests for diagnosing and monitoring bladder cancer now have approvals from a number of major US healthcare administrators.

News in Brief
AFT signs new hand sanitiser distribution agreements
Staff reporters | Mon, 12 Apr 2021

The pharmaceuticals company has also appointed Lorraine Corr-Poppleton as its Hong Kong-based Asia business manager.

News in Brief
Summerset's strong sales continue in March qtr
Staff reporters | Mon, 12 Apr 2021

Summerset is also expecting a strong June quarter.

News in Brief
Synlait CEO Leon Clement resigns
Rebecca Howard | Mon, 12 Apr 2021

John Penno will take over on an interim basis after Leon Clement leaves his role at the end of April. 

Markets
WAKE UP CALL: UK lockdown lifted
Staff reporters | Mon, 12 Apr 2021

The reality of earthquake strengthening expiries is coming home, with looming deadlines causing some to apply for extensions.

Opinion
AFT's disclosure lacks candour despite chair's pedigree
Jenny Ruth | Mon, 12 Apr 2021

AFT's chair David Flacks chairs NZX's regulatory governance committee and used to chair NZX's disciplinary tribunal, making AFT's late profit downgrade all the more surprising.

Markets MARKET CLOSE
Pacific Edge surges; NZX 50 falls
Dan Brunskill | Fri, 09 Apr 2021

Investors added more than $100 million to the cancer diagnostic firm's market capitalisation. 

Coronavirus
Revamped govt credit line gives Air NZ capital raise options: Foran
Pattrick Smellie | Fri, 09 Apr 2021

The national airline is creating room to manoeuvre as the many moving parts affecting its post-covid future slowly come together.

Markets
Pacific Edge shares soar to 7-year high on United deal
Staff reporters | Fri, 09 Apr 2021

Pacific Edge has been gaining momentum in the US after years of trying to win over the major administrators. 

News in Brief
Review finds Air NZ's processes at fault, not staff
Staff reporters | Fri, 09 Apr 2021

A PwC report into Air New Zealand’s contracts to maintain gas turbine engines for the Saudi Arabian navy has found the airline's processes were at fault. 

News in Brief
NZX to shift dairy derivatives to Singapore Exchange
Staff reporters | Fri, 09 Apr 2021

NZX will shift its dairy derivatives listing and trading to the Singapore Exchange once it gains regulatory approval.

Markets Breaking News
Air NZ delays capital raise to Sept
Pattrick Smellie | Fri, 09 Apr 2021

The government will add another $600m to the airline's existing covid loan facility, although there have been no drawdowns since February.