Friday 11th July 2008
|Text too small?|
Themes of the day: Crude oil continued its climb above US$140, surging more than 4% to as much as $142.10 a barrel in New York, amid computer-driven trades and concern about Iranian missile tests. The two biggest US mortgage finance providers, Fannie Mae and Freddie Mac slumped to a 17-year low on concern the companies may require a government bailout. Gold and silver prices climbed.
AMP Office Trust (APT): Listed property investors such as AMP NZ Office Trust and Kiwi Income Property Trust offer ďsky-high yields,Ē First NZ Capital research manager Barry Lindsay said yesterday. Kiwi Income fell 0.9% to NZ$1.13 yesterday. Separately, ING Property Trust (ING) yesterday agreed to buy an industrial property in Albany from Property For Industry (PFI) for $17 million, giving it four adjacent sites valued at NZ$58.5 million. ING fell 1.2% to 84 cents.
Hallenstein Glasson Holdings (HLG): The clothing chainís stock dropped 3.3% yesterday, pacing a decline in retailers, the company said profit will drop 30% this year. Warehouse Group (WHS) fell 7 cents to NZ$3.96 yesterday and Michael Hill International (MHI) Dropped 6 cents to 78 cents.
New Zealand Oil & Gas (NZO): Crude oil extended its gains, boosting sentiment for the 12.5% owner of the Tui oilfield. Meantime, AWE, the fieldís operator yesterday pleaded guilty to spilling 23,000 litres of oil off the Taranaki coast. Meantime, AWE, the operator of the field, yesterday pleaded guilty to spilling 23,000 litres of oil off the Taranki coast and Prosafe, the production ship operator is expected to please guilty. Fines could be NZ$200,000 apiece.
Telecom Corp (TEL): The Telecommunications Commissioner advised the largest company on the NZX 50 Index today that it has breached its separation agreement by failing to consult with Minister David Cunliffe and the regulator before June 30 on the way it classifies customer addresses. The information forms the basis of Telecomís commitment to migrate 80% of the nationís lines to an advanced broadband network.
No comments yet
Scott Technology Limited (NZX: SCT) Announces FY21 Results
21st October 2021 Morning Report
Greenfern Industries Limited (NZX: GFI) L&Q Notice
TruScreen Group Limited (NZX: TRU) Clinical Trial Results Highlight Efficacy of TRU Technology
20th October 2021 Morning Report
Freightways Limited (NZX: FRE) Acquisition of ProducePronto
19th October 2021 Morning Report
PGG Wrightson Limited (NZX: PGW) Guidance Update
Vital Limited (NZX: VTL) Provides Update on PSN LMR
18th October 2021 Morning Report