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Markets News

Listed Companies market close
Pacific Edge up 6%; while index dips
Dan Brunskill | Fri, 24 Sep 2021

The NZX 50 index fell as its biggest stock, Fisher & Paykel Healthcare, fell 3.1% back towards its average price of $32 per share.

Markets
Retirement villages operate like 'quasi-Ponzi schemes'
Jenny Ruth | Fri, 24 Sep 2021

Retirement village residents' association claims the rule to get legal advice before signing a contract doesn't protect residents – and is used against them.

Markets
Pacific Edge raises $20m above target
Dan Brunskill | Fri, 24 Sep 2021

The cancer diagnostic firm's shares spiked 6% after strong demand for new shares saw it increase its capital raise to a total of $100 million.

Markets
Air NZ CEO: mandatory vaccination 'the right thing to do'
Paul McBeth | Fri, 24 Sep 2021

CEO Greg Foran says delta risks convinced airline it needed more protection for its staff.

Markets
Wake Up Call: Markets rally as Evergrande fears subside
Staff reporters | Fri, 24 Sep 2021

Investors were positive after the US Federal Reserve provided more clarity regarding economic stimulus tapering.

Markets market close
Fonterra fund leads NZX 50 higher
Dan Brunskill | Thu, 23 Sep 2021

Other agriculture and dairy exporters also rallied on positive day for the NZX.

Markets
Market regulator to review Pacific Edge disclosures
Dan Brunskill | Thu, 23 Sep 2021

Pacific Edge has announced an $80 million capital raise which is similar to informal plans accidentally revealed by the ASX two weeks ago. 

Primary Sector
Fonterra's capital return sends a mixed message
Rebecca Howard | Thu, 23 Sep 2021

Dairy Holdings chief executive lauds Fonterra for 'turning the ship around' but says the cooperative is sending mixed messages about the future. 

Property
Stride reinstates dividend guidance after IPO withdrawal
Staff reporters | Thu, 23 Sep 2021

Stride's bid for an increase in directors' fees was approved, but there was a strong protest vote with nearly 26% of votes lodged ahead of the meeting against it.

Markets
Pacific Edge performs U-turn on capital raise
Dan Brunskill | Thu, 23 Sep 2021

Documents released to the ASX two weeks ago included details of a A$70 million capital raise managed by Bell Potter Securities, Forsyth Barr and Jarden.

Property
Goodman's property gains another $500m
Staff reporters | Thu, 23 Sep 2021

Goodman Property Trust's industrial property portfolio is benefiting from the rise in internet shopping accelerated by the covid pandemic.

Listed Companies
Fonterra eyes Kiwi-made in Chile exit, Aussie IPO
Rebecca Howard | Thu, 23 Sep 2021

Fonterra looks to sell its assets in Chile but plans to retain a "significant" stake in Australia. 

Markets
Wake Up Call: Eight steps to support hospitality
Staff reporters | Thu, 23 Sep 2021

The Restaurant Association is bracing for the fallout from the latest lockdown and has released a roadmap of support packages and campaigns to help the sector.

Markets
Vulcan IPO process may skip NZ investors
Dan Brunskill | Thu, 23 Sep 2021

One local fund manager told BusinessDesk they had not even been contacted about the deal which appears to be focused on Australian investors. 

Health
'Untenable': pharma boss sends staff on one-way ticket
Brent Melville | Thu, 23 Sep 2021

AFT founder Hartley Atkinson says NZ will end up poorer if it ignores export markets.

Property
Second Vital report reveals greater clarity on fees
Jenny Ruth | Thu, 23 Sep 2021

Because Vital Healthcare Property Trust's manager opted for Vital to be classed as a managed investment scheme, it had to issue a second annual report.

Markets Market close
NZ shares up with Evergrande lurking in background
Dan Brunskill | Wed, 22 Sep 2021

There were no developments overnight with the market watching closely for a signal that the Chinese government may step in to help restructure the firm’s debt.

Energy
Trustpower shareholders back sale to Mercury
Ian Llewellyn | Wed, 22 Sep 2021

Trustpower shareholders back selling retail base to Mercury and becoming a generation-only company as executives worry about regulatory uncertainty.

Infrastructure
Radius revenue up but so were costs
Jenny Ruth | Wed, 22 Sep 2021

Radius had wanted to attract institutional investors in its recent $48.2m capital raising which was why the new shares were sold at such a deep discount.

Markets
Wake Up Call: Auckland gets back on site
Staff reporters | Wed, 22 Sep 2021

As many as 300,000 workers are returning to work today in what is seen as a gamble that could end NZ’s elimination strategy if it does not work.

Retail FREE
Does Kiwi's build-to-rent apartment project stack up for investors?
Jenny Ruth | Wed, 22 Sep 2021

Chief executive Clive Mackenzie says build-to-rent is a long-term proposition.

Listed Companies
Court rules on Turners’ car-yard quarrel and the non-compliant Hellcat
Michael Andrew | Wed, 22 Sep 2021

The high court dismissed claims Turners Automotive breached fundamental covenants with the vendor of Buy Right Cars.

Markets Market Close
NZ shares flat as global markets fear Evergrande crisis
Dan Brunskill | Tue, 21 Sep 2021

Key US indices fell about 2% overnight, as investors worried Chinese developer Evergrande’s insolvency could lead to a wider market shock.

Markets
Lockdown finishes off Fabric IPO
Dan Brunskill | Tue, 21 Sep 2021

Stride nixes new listing after lockdowns and a Chinese property giant facing insolvency poisons market sentiment.