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Markets News

Markets market close
F&P Healthcare drags NZX 50 lower
Dan Brunskill | Wed, 25 May 2022

Markets were also surprised by RBNZ's plans to keep hiking the official cash rate until it hit 4%.

News in Brief
F&P Healthcare profit falls 28% as pandemic subsides
Dan Brunskill | Wed, 25 May 2022

The healthcare manufacturer generated $1.68 billion in annual revenue, reaping a net profit of $376.9 million.

Markets
Govt invests $30m with coastal shipping 'winners'
Brent Melville | Wed, 25 May 2022

Government investment is seen as the starting point to creating a viable coastal shipping sector.

Markets market close
NZ shares fall even as Pushpay climbs
Dan Brunskill | Tue, 24 May 2022

Meridian Energy dropped 3.5% to $4.44, and Contact Energy slipped 1.5% to $7.67.

Markets
Pushpay up 14% with bidding war on the cards
Dan Brunskill | Tue, 24 May 2022

Competing proposals could mean the board can extract top dollar from the interested bidders. 

Markets
Pushpay bidder emerges with 20% stake
Dan Brunskill | Tue, 24 May 2022

Australian private equity firm, BGH Capital and existing Pushpay shareholder, Sixth Street Partners, are making a bid to buy the entire company. 

Transport
Shipping issues sink Napier Port first-half earnings
Staff reporters | Tue, 24 May 2022

New Zealand's fourth-largest port had a challenging six months with its results hit by supply chain disruption and labour issues.

Markets market close
AFT leads NZ shares higher
Dan Brunskill | Mon, 23 May 2022

The company expects next year’s operating profit to the range of $27m and $32m.

News in Brief
AFT shares climb 11% as profit more than doubles
Staff reporters | Mon, 23 May 2022

Maxigesic maker AFT Pharmaceuticals says it will start paying dividends next year.

Property
Kiwi Property lifts operating income amid improving trading conditions
Jenny Ruth | Mon, 23 May 2022

Kiwi Property will move some or all its office properties into a standalone specialist fund and seek third-party investors for both it and its mixed-use centres to help fund development.

Markets
Tourism Holdings to report smaller loss
Dan Brunskill | Mon, 23 May 2022

The campervan rental business has asked KPMG to shop its managed tour division to possible buyers. 

Retail
Power play: Spark moves on Genesis trademark
Victoria Young | Mon, 23 May 2022

Spark moves to block Genesis from expanding its challenger brand.

Opinion FREE
Brian Gaynor: a 'titan' of NZ's capital markets
Jenny Ruth | Sat, 21 May 2022

Brian Roche remembers Brian Gaynor as "sorta scary and impressive at the same time – a real 'conscience' of what was right and fair." 

Markets market close
Positive earnings lift NZ sharemarket
Dan Brunskill | Fri, 20 May 2022

The NZ market was one of the few climbing markets as investors in other parts of the world worried about the risk of a global recession.

Markets FREE
Brian Gaynor: legacy of a towering financial figure
Brenda Ward | Fri, 20 May 2022

At his funeral in Auckland, family, friends and colleagues of Brian Gaynor recalled a passionate man who had the confidence and courage to back his sometimes controversial opinions.

Listed Companies
Oceania Healthcare says its well positioned for growth
Staff reporters | Fri, 20 May 2022

Oceania Healthcare reports a solid lift in underlying full-year earnings. 

Markets
My Food Bag hits targets
Dan Brunskill | Fri, 20 May 2022

The company needs to grow customer spending and find new avenues for growth. 

Infrastructure
Ryman lifts underlying profit 13.6%, further addressed debt
Jenny Ruth | Fri, 20 May 2022

Ryman's gearing eased to 42.6% at March 31 from 44.5% in September.

Markets market close
US dive brings down NZ stocks
Dan Brunskill | Thu, 19 May 2022

In the US, Target's earnings results exacerbated some recession fears.

News in Brief
Wall St Journal’s NZ budget blunder
Staff reporters | Thu, 19 May 2022

Financial markets got information on the NZ budget via the Wall Street Journal an hour earlier than the embargoed publication time.

Markets
Budget 2022 pitches equity fund for small business
Dan Brunskill | Thu, 19 May 2022

The government would establish the fund with private banks and it would be a minority shareholder, essentially acting as a cornerstone investor.

Infrastructure
Analysts question Infratil's CDC, Vodafone mobile towers valuations
Jenny Ruth | Thu, 19 May 2022

Infratil's gearing is just 9.4% and it has about $1.67b of cash and bank facilities available.

Finance
Westpac's Lazarus to head Heartland Bank
Staff reporters | Thu, 19 May 2022

In a reshuffle of roles at Heartland Bank, head of Westpac Life's Leanne Lazarus takes over as CEO and Chris Flood becomes deputy CEO.

Primary Sector
Sanford's revenues lift but domestic challenges remain
Rebecca Howard | Thu, 19 May 2022

The board opted to not pay an interim dividend given the “early stage” of Sanford’s recovery.