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Markets News

Finance
Partners Life sold to Dai-ichi in $1b deal
Staff reporters | Fri, 12 Aug 2022

Naomi Ballantyne navigates her third successful exit. 

Markets FREE
NZ dollar rise pinches big exporters
Staff reporters | Fri, 12 Aug 2022

Big exporters like Fisher & Paykel Healthcare and Mainfreight didn't enjoy the NZ dollar jumping against the greenback today.

Finance
Doubling in extreme weather events hits IAG’s margins
Riley Kennedy | Fri, 12 Aug 2022

The insurer's New Zealand arm reported an insurance profit of A$220 million (NZ$242m), down from A$305m. 

Infrastructure
Vital investors get 8.5% raise, manager gets 31.5%
Jenny Ruth | Fri, 12 Aug 2022

The fees Vital Healthcare paid its manager, NorthWest, rose 31.5% in the latest year, after a 43% increase the previous year.

Markets FREE
NZ shares rise slightly on Wall Street optimism
Staff reporters | Thu, 11 Aug 2022

Consumer price data from the US showed inflation was better than expected.

Technology
Rakon makes big promises, but a dividend isn’t one
Ben Moore | Thu, 11 Aug 2022

Rakon’s chair and CEO asserted the importance of reinvesting the windfall from the chip shortage back into the business.

Infrastructure
Vital Healthcare annual net profit rose 9%
Jenny Ruth | Thu, 11 Aug 2022

Per-unit adjusted funds from operations were up 3.3% to 11.92cpu, reflecting the $379m of new equity raised during the year.

Markets
Rakon warns earnings may fall as chip shortage eases
Staff reporters | Thu, 11 Aug 2022

Rakon expects underlying earnings of between $36m and $44m.

Infrastructure
The market may be undervaluing Fletcher shares: Craigs
Jenny Ruth | Thu, 11 Aug 2022

The Craigs Investment Partners analysts are expecting Fletcher Building’s earnings to peak in 2023 and to decline in the following two years.

Markets FREE
A2 shares plunge over FDA formula deferral
Staff reporters | Wed, 10 Aug 2022

A2 shares dropped 11% to $5.01 in early morning trading opened but made up a bit of lost ground by the end of the day.

Markets
QuayStreet leaps into KiwiSaver rankings
Dan Brunskill | Wed, 10 Aug 2022

The asset manager has immediately assumed some leading positions in the rankings. 

Listed Companies
Millennium & Copthorne Hotels targets annual profit as pandemic bites
Riley Kennedy | Wed, 10 Aug 2022

The hotel operator recorded a net profit of $15.4 million for the six months to June 30.

Primary Sector
A2 Milk sinks 11% as FDA defers new approvals
Rebecca Howard | Wed, 10 Aug 2022

The FDA is deferring any further review at this time of all pending applications, according to A2 Milk. 

Markets
Spark repays $15.7m it mischarged customers
Staff reporters | Wed, 10 Aug 2022

Spark charged customers for six years for a wire maintenance service they didn't need and couldn't use or benefit from.

Markets
Analysts watch for faltering economy in August earnings
Dan Brunskill | Wed, 10 Aug 2022

Reporting seasons begins in earnest next Monday when Contact Energy reports its full-year results.

Markets FREE
NZ shares rise on another quiet day
Staff reporters | Tue, 09 Aug 2022

Hamilton Hindin Greene's Grant Davies said the market was expecting “robust" numbers from the upcoming earnings season.

Listed Companies
Glass price inflation will crack 31% next month – Metroglass
Brent Melville | Tue, 09 Aug 2022

NZ's main commercial glass manufacturer says materials costs increases and changes to the building code will continue to ratchet up prices for the already hard-hit construction sector.

Finance
Under-fire NZ Automotive Investments loses confidence of financier
Riley Kennedy | Tue, 09 Aug 2022

The car sales and auto finance company better known for its brand 2 Cheap Cars did not name the bank which provides the funding.

Infrastructure
The historic Victorian mansion Ryman hopes to restore
Jenny Ruth | Tue, 09 Aug 2022

Colin Cook, great-grandson of Moondah's founder, James Grice, says the property needs to be maintained to stop it falling into disrepair and Ryman will do that.

Markets FREE
Countdown to earnings season puts NZ shares in limbo
Staff reporters | Mon, 08 Aug 2022

It was a quiet day for NZ's market as investors wait to see what listed companies reveal when earnings season kicks off next week.

Property
Vital Healthcare pushes NZ portfolio past $1b
Brent Melville | Mon, 08 Aug 2022

The specialist healthcare property trust has been actively adding NZ properties to its asset base, now valued at almost a third of its $3.3 billion portfolio.

Opinion
A2 share price frenzy – but is the US formula market worth it?
Jenny Ruth | Mon, 08 Aug 2022

Forsyth Barr analysts say the US infant formula market is between 15% and 20% the size of China’s.

Markets
NZ market looks to be in better heart
Rebecca Howard | Fri, 05 Aug 2022

The S&P/NZX 50 added 2% over the week and volumes picked up ahead of earnings. 

Law & Regulation
NZ RegCo questions independence of NZAI board candidates
Dan Brunskill | Fri, 05 Aug 2022

The market regulator wants to see an assessment as to whether the proposed directors can be considered independent of the largest shareholder.