MARKET CLOSE: NZ shares snap three-day rally as investors weigh up lockdown
By Dan Brunskill | Fri, 27 Mar 2020
New Zealand shares snapped a three-day rally in volatile trading, as investors continue to assess the fallout from the level 4 shutdown and as higher bond yields reduce the attraction of companies tha...
NZ dollar gains on US rescue package euphoria
By Jenny Ruth | Fri, 27 Mar 2020
The New Zealand dollar made further gains, driven by Wall Street euphoria over the US government's US$2 trillion stimulus package, but futures pricing suggests US equity gains may be trimmed and the k...
Subsidies rolling out fast; some 75%+ of workers at home
By Rebecca Howard | Fri, 27 Mar 2020
The government had already paid around $1.5 billion under the wage subsidy scheme by Thursday and that number has likely already more than doubled as it represented less than half of already approved...
Essential services Chorus, King Salmon stick to earnings outlook
By Paul McBeth | Fri, 27 Mar 2020
Telecommunications network operator Chorus and fish farmer NZ King Salmon are sticking to their earnings forecasts, despite the national lockdown.Both companies are deemed essential services and have...
Upbeat markets banking on massive US stimulus; kiwi jumps
By Rebecca Howard | Fri, 27 Mar 2020
The prospect of a US$2.2 trillion coronavirus relief bill continues to cheer investors overseas, driving a sharp lift in the kiwi dollar and putting the local market on track to rise for a fourth stra...
MARKET CLOSE: NZ shares rally on US stimulus; beat-up stocks recover
By Paul McBeth | Thu, 26 Mar 2020
New Zealand shares rose for a third day as the US$2 trillion stimulus package bolsters investor confidence that governments are throwing everything at the covid-19 pandemic. The S&P/NZX 50 Index in...
NZ dollar flies through wild swings on US rescue package negotiations
By Jenny Ruth | Thu, 26 Mar 2020
The New Zealand dollar was little changed after wild swings amid the negotiations in the US congress over that nation's US$2 trillion rescue package. The kiwi was trading at 58.33 US cents at 5pm i...
Metlifecare confident takeover going ahead; Augusta deal canned
By Paul McBeth | Thu, 26 Mar 2020
Metlifecare says the $1.49 billion takeover bid from European buy-out firm EQT is still on the table, although investors don’t appear to agree, as the shares slumped 19.1 percent. And while Augusta...
Risk appetite ticks up again, may lift local market
By Rebecca Howard | Thu, 26 Mar 2020
Risk appetite may show some signs of life as the US Senate readies to vote on a US$2 trillion aid package to help the world's biggest economy weather the fallout from covid-19. The S&P/NZX50 had...
MARKET CLOSE: NZ shares gain; Wall Street rally brings out bargain hunters
By Paul McBeth | Wed, 25 Mar 2020
New Zealand shares rose for a second day as a strong rally on Wall Street brought out investors on the prowl for bargains. The S&P/NZX 50 Index advanced 155.23 points, or 1.7 percent to 9,264.38. W...