Sharemarket News Archive 2010
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January 2010 February 2010 March 2010 January 2010 1st - While you were sleeping: Stocks mixed at year end While you were sleeping: Stocks extend gains into 2010 Stocks to watch: Contact, Freightways, Fletcher Bldg, Air NZ NZ dollar starts 2010 on the front foot as commodities climb Strategic Finance bank debt knocks down first repayment to investors Warehouse predicts flat first-half as Xmas fails to cheer Global doldrums push NZX trading to a five year low in 2009 NZ Funds likes utilities in 2010 NZX CLOSE: NZ shares open 2010 on upbeat note, F&P Appliances gains ASX CLOSE: Rising commodity prices pushes ASX higher While you were sleeping: Stocks, oil hit pause Stocks to watch: Xero eyes US, NZX trading light in 2009 Fonterra milk prices fall Dollar slips as Fonterra milk price dips NZX CLOSE: NZ shares edge up despite fears of weak Xmas retail spending ASX CLOSE: Market oscillates in and out of positive territory While you were sleeping: U.S. jobs data awaited NZ dollar surges to 7-week high as Fed minutes reaffirm low US rates Stocks to watch: NZOG, Kathmandu, Wool Equities, TrustPower NZ annual trade deficit smallest in 7 years, imports slump more than exports Auckland house prices stabilising at boom-time levels: Barfoot PGW sells half-stake to partner in Canterbury saleyards Sky City expects to make $70 million from sale of cinema businesses NZX CLOSE: NZ shares gain in thin trading as Asian equities mixed ASX CLOSE: Market drifts lower in light volumes While you were sleeping: Narrow range, China moves NZ dollar drops below 80 Aust cents as spending surges across the Tasman Stocks to watch: Michael Hill Xmas trading, Contact and Fletcher rally, NZX, OBV Stronger Christmas for Michael Hill in NZ and Australia Monday 11th January 2010 Weekly Diary for Monday 11th January 2010 Greymouth Chilean oil project frustrated by NZ policy flip-flops Fertiliser price pressure likely as commodities recover: Rabobank NZX CLOSE: NZ shares gain, led by Michael Hill on better trading result ASX CLOSE: Defensive stocks and financials add bulk of points today NZ house prices heading back to boom-time values: QV World Week Ahead: Focused on the light at the end of the tunnel Daily ShareChat: Nuplex Industries NZ dollar gains on prospect of low US rates following weak employment data Stocks to watch: AIA, AFFCO, Fletcher Building Hubbard brings companies under a new umbrella, raises $27 mln for SCF Auckland airport seeks tourism growth through North Queensland acquisitions NZ Dollar Outlook: Kiwi likely to gain as returning investors keen on risk Infratil sells stake in Aust Energy Developments for A$140 mln NZX CLOSE: NZ shares edge lower, led by Auckland Airport ASX CLOSE: Chinese data boosts the mining sector While you were sleeping: Stocks mixed; USD slides NZ dollar pushes above 74 US cts ahead of NZIER's QSBO Stocks to watch: Hallensteins, Pike River, Nuplex Business optimism stalls as recovery catches up Applefields shares suspended ahead of NZX de-listing vote Telecom pays out $9.5 million to customers over Xtra breach, gets warning Andrew Barney takes over as MBA director Matthew Wood opens executive search firm Credit card surcharges attract competition watchdog's attention MARKET CLOSE: NZ shares fall as Asia-Pacific region prepares for US earnings ASX Close: Profit taking leaves ASX down Daily ShareChat: The Warehouse Group While you were sleeping: Stocks fall, USD rises Dollar slips as China signals move to normal monetary policy setting Stocks to watch: Air NZ prepares for ski season Full takeover bid for Horizon as interest mounts FBU unit threatened if anti-dumping duty removed Dairy, aluminium and timber lead surging commodity prices in 2009 NZX CLOSE: NZ shares fall for third straight day, led by financials Fragile jobs mood turning positive ASX CLOSE: Market dips as traders look to reduce China exposure While you were sleeping: Stocks rise, Google gags NZ dollar little changed ahead of Aust employment data Stocks to watch: AMP NZ Office Trust waits on building data, CEN, ALF, FBU Home-building and hospitals push up November building consents TVNZ denies $15 million pay-out to Simunovich, confirms settlement Eastern Hi Fi calls in receivers Harbour Asset Management team will have free rein: First NZ Capital NZX CLOSE: NZ shares edge up, led by ANZ and financial stocks ASX CLOSE: Market higher on stronger than expected employment numbers Monday 18th January 2010 Daily ShareChat: NZX While you were sleeping: ECB reassures, Stocks flat NZ dollar holds above 74 US cts on strong Aust employment Stocks to watch: NZX, Warehouse, Air New Zealand Sealord auditor earmarks funding as potential bogey amid decline in profit Card statistics confirm flat Christmas Weekly Diary for Monday 18th January 2010 First Kupe crude to Aussie next week; OMV stalls on GSB Strategic Finance sparks second review after boosting provisions Accounting and tax news round up Next Wednesday for Tax Working Group report ASX CLOSE: Market finishes higher; Commonwealth Bank of Australia surges WORLD WEEK AHEAD How sick is America? Static inflation holds off interest rate rises Stocks to watch: Fletcher, Infratil, Wrightson, Spotless Pyne Gould takes Skellerup's spot NZ dollar eases as U.S. data supports greenback, earnings damp risk appetite House prices continue their ascent NZ Dollar Outlook: Kiwi likely to tread water until CPI data Macraes gold reserves increased again Expect a strong economic recovery: Westpac MARKET CLOSE: NZ shares dip amid outlook for flat earnings Marlin nets a good takeover deal ASX Close: Banks beat miners While you were sleeping: European shares mostly higher Kiwi edges higher while US on holiday Stocks to Watch: ANZ, Fletcher, PGC, TEL Appetite for M&As set to grow Dun & Bradstreet tips RBNZ to hold rate hikes until mid-2010 Allan Hawkins takes second tilt at Cynotech Crackdown on rental property loopholes and a higher GST tempt Key MARKET CLOSE: NZ shares fall to 2010 low ASX Close: Disappointing day and outlook poor While you were sleeping: Stocks higher on Kraft, Citi Stocks to Watch: Cynotech, Diligent, NZO, OGC, SPY NZ dollar trades near top of recent range CPI drop likely to be good for interest rates NZ dollar tumbles as CPI reaffirms rate cut expectations for mid-2010 Raise GST and close property loopholes to fix tax system Dunne signals action on Working for Families rorts Brownlee gives the green light for more petroleum exploration Property investors face double-whammy in tax proposals Fonterra plans $250 mill bond offer MARKET CLOSE:TWG reports hits market Why wait for the Aussies on tax? English ASX Close: Industrial sector best performer While you were sleeping: Stocks hit by China, earnings NZ dollar tumbles to lowest in 2010 after CPI falls, Chinese lending tightened Stocks to watch: F&P Healthcare, ING, LPC, Warehouse Graeme Hart puts $225 mill of dairy farms on the market Daily ShareChat: Energy Developments NZ manufacturing climbs to 2-year high on production, new orders: PMI Takeovers Panel on Hawkins' takeover of Cynotech Holdings Accounting and tax news round up Cullen Fund continues to bounce back Longstanding Powerco chief financial officer retires NZRC appoints a new company secretary Spotless adds another company secretary NZ consumers gearing up to 'open the wallet' as confidence jumps: ANZ NZX CLOSE: NZ shares slip for fifth day; KIP falls, FPH gains ASX CLOSE: Commodities detract points and push market lower Daily ShareChat: Property Gross Index Monday 25th January 2010 While you were sleeping: Obama takes aim at big banks Stocks to watch: Affco, Contact, FPH, Kiwi Income, Nuplex NZ dollar falls for second day as Obama plan, China inflation sap risk appetite Nuplex shares soar on record first-half profit, reinstated dividends Weekly Diary for Monday 25th January 2010 Tax reform group's report 'meek', radical tax cuts needed, says NZIER: NZX CLOSE: NZ shares slide as global risk appetite wanes; FBU, CEN, TEL fall ASX CLOSE: Markets lower; materials sector does most damage SMELLIE SNIFFS THE BREEZE: Soaking the Rich Daily ShareChat: Auckland International Airport World Week Ahead: C-C-C-C-orrection pending Stocks to watch: Contact, NZO, Nuplex, Pike River Kiwi sinks amid banking fears Pan Pacific to abandon well NZ Dollar Outlook: Kiwi may hold above 70 USc Service sector's growth slowed in December Fonterra farmers fork out $270.5mill for new shares MARKET CLOSE: NZX50 sinks in light trading ASX Close: Defensive sectors outperform on quiet day While you were sleeping: Bump in the recovery road Stocks to watch: AIA expansion an 'expensive experiment', Nuplex, PPP Dollar edges up amid rumoured Bernanke reappointment Daily Share Chat: Commonwealth Bank of Australia Hiring expectations up Air NZ rolls out long-haul passenger comforts Gaynor's Milford Asset Management gets some NZ Super money Former ASB adviser to plead guilty to $18m fraud MARKET CLOSE: NZ shares snap 7-day slide S&P 500 results hint at recovery; earnings lag behind pre-recession levels While you were sleeping: Confidence renewed but for China Daily Share Chat: PGG Wrightson Dollar holds below 71 US cents as investors get jitters from policy makers Stocks to watch: Auckland Airport, NZO, Wrightson, Xero Xero enters agreement with Yodlee to further global expansion AIA seeks $126m for Queensland foray Abano first-half profit soars on asset sale proceeds Sanford's Barratt calls for tax on forex trading as soaring kiwi erodes profit Moody's says impaired loans have peaked, upgrades NZ bank outlook ASX Close: Dismal day on market with commodities weighing market down MARKET CLOSE: NZ shares fall; Nuplex, Freightways, WHS, FBU drop While you were sleeping: Stocks extend their slide OCR holds, mid-year rate hike still likely Daily Share Chat: Pike River Coal Bollard holds OCR; reiterates outlook for mid-year hike Stocks to watch: Abano, Telecom, WHS, XRO Harcourts looks to grow up north Dollar holds above 70.50 US cents as global concerns swamp OCR review Telecom's Reynolds apologises as shares decline on XT outage Renaissance Corporation announces new CFO NZ cartel crackdown aims to cut price gouging by up to a fifth Geneva to lose its wholesale funding line MARKET CLOSE: NZ shares extend decline; Telecom, oil companies slide ASX Close: Market finishes up against a negative backdrop While you were sleeping: Techs rattle Wall Street Stocks to watch: Affco, Air NZ, Fletcher, Telecom Dollar likely to hold above 70 US cents as risk appetite fades Auckland Airport institutional shareholders snap up discounted stock Consumers eschew plastic for personal loans and hire purchase Telecom puts forward plans for govt broadband initiative Building consents stall in December amid falling home sales Daily Share Chat: Nuplex Annual trade deficit shrinks to lowest level in 7 years as imports fall Hallenstein forecasts 50% jump in 1H profit Bank liquidity requirements could keep rate hikes to a minimum: Bollard PRC gets new counsel Government accounts propped up by higher GST, investment earnings Property profits for Charlie's NZ Farming Systems confirms loss forecast MARKET CLOSE: NZ shares join global sell-off ASX Close: Investors head for the door New chief for Affco February 2010 1st - World Week Ahead: US needs jobs growth after GDP data NZ jobless rate may have climbed to 6.8% last quarter Stocks to watch: TEL, Allied, Charlie's, Glass Earth, HLG, NPX Greece's fiscal woes impact dollar Cavalier signs former AIA CEO NZ Dollar Outlook: Kiwi likely to fall this week amid bout of risk aversion Oyster Bay and Delegat's yet to agree on grape prices NZ commodity prices post 11th straight monthly gain MARKET CLOSE: NZX 50 falls, China fears weigh on resources Generator looks for investment now it has resource consents ASX Close: Value investing sentiment emerging Monday 8th February 2010 While you were sleeping: Manufacturers shifted gears Stocks to watch: Hallenstein, Infratil, RNS, TTK, Telecom Daily ShareChat: Woolworths NZX trading picked up by volume in January as value of trade ebbed Kiwi dollar's strength wipes out any market price gains for lamb and beef Investment banker pleads guilty to $18m fraud charges NZ full-time employment rises amid slowing wage growth Auckland Airport gains after capital raising, risks of Queensland foray downplayed Kiwi investors show a slightly greater appetite for higher-risk funds English sets May 20 date for budget which will include tax reform package Telecom offers $5 million in credits in sorry note for XT network failure Fonterra milking Chinese demand, expanding farm operations Australian central bank unexpectedly leaves key rate unchanged; dollar tumbles NZX CLOSE: NZ shares fall, led by Pan Pacific; AIA gains after share sale ASX CLOSE: Market rebounds; RBA keeps rates on hold While you were sleeping: Global stocks fundamentally good Fonterra milk powder falls for second month Stocks to watch: AMP Office, Auckland Airport Dollar rises to four-week high vs Ausi as RBA keeps rates unchanged Daily ShareChat: Auckland International Airport HNZ to guarantee Kiwibank home loans for multiple-owned Maori land SCF says impairments lead to first-half loss Telecom downplays reports of outsourcing MARKET CLOSE: NZ shares drift lower as earnings loom NZ banks post second-half loss amid debt write-offs, tax ruling: PwC ASX Close: Investors start to get their appetite back While you were sleeping: Stocks slide on weak results NZ dollar falls below 71 US cents as risk appetite wanes, jobs data looms Stocks to watch: Air NZ, AMP, AIA, Pike River, Telecom Daily ShareChat: Infratil Nuplex names Boral executive Severin as CEO, replacing long-serving Hirst NZ jobless rate jumps to 7.3%, may slow start of rate hikes; kiwi, swap rates drop AMP NZ Office's Stobo says proposed tax changes would erode earnings UPDATED: Mint Chicks dump Warner for local digital music start-up WARNING: Illegal Share Offer - Inertialess Drive ZPE (2010) Limited Auckland house prices fell in January amid ongoing decline in sales NZX CLOSE: NZX 50 snaps 6-day losing streak; PGC, TEL, PGW gain ASX CLOSE: Market closes down on weak retail data While you were sleeping: Shares slump amid pessimism Daily ShareChat: Abano Healthcare Stocks to watch: Briscoe, Genesis, NZ Windfarms, Wrightson, South Port NZ dollar sinks to five-month low as European fiscal fears dominate Briscoe says full-year profit almost doubled after strong Christmas; shares jump Monday 8th February 2010 Weekly Diary for Monday 8th February 2010 Auckland Airport welcomed more overseas flights in '09, but fewer passengers Accounting and tax news round up TrustPower latest power retailer to ditch customer service upgrade Dorchester Pacific's finance unit takes $1M provision on Erceg loan Maori Trust injuncts Horizon Energy takeover poll ASX CLOSE: Investors offload anything risk associated NZX CLOSE: NZ stocks stumble in global sell-off; FBU, TEL, PPP drop Daily ShareChat: The Warehouse Group NZ house values rose last month in 'patchy' market: QV NZ housing market 'looks slightly spongy,' no sign boom is returning, Bollard says World Week Ahead: Tolerance for risk taking a hit NZ dollar touches new five-month low as US sheds more jobs Stocks to watch: Abano, Briscoe, FPH, SPY, TPW NZ Dollar Outlook: Kiwi may weaken on global risk; Key speech awaited Margin pressure rising for New Zealand electricity retailers, Fitch says Pyne Gould's Marac unit to take $2.5 million provision for irregularity over loan Kiwibank lowers floating rate Genesis opens bidding for a South Island customer base NZX CLOSE: NZX 50 sinks to 5-month low; PGC, Pike, NZR fall ASX CLOSE: Market sees modest gains Daily ShareChat: Abano Healthcare While you were sleeping: Equities held in check Stocks to watch: Abano, AMP, NZR, Pike, WHS NZ dollar trades near five-month low ahead of PM's speech on tax Warehouse Group plans $100 million sale of five-year bonds NZ business survey shows confidence still high but coming year expected to be hard work Deutsche Bank looks set to take stake in Craigs Investment Partners Exclusive: Harbour Asset Management wins $225 million in new mandates NZ financial regulations should play into Tower's hands, investors told Key kicks for touch on property tax COMMENT: Good politics, but will it fix a 'broken' tax system?: Key takes middle road in whacking residential investors New Zealand's dairy herd now matches human population, wine output soars, government figures show 'Sweet spot' for stock markets over, but still a better bet in 2010: AMP Capital NZ fish-oil encapsulation technology set to ramp up from Speirs Group's Marton base NZX CLOSE: NZX 50 sinks to new 5-month low; Pike, PGW fall ASX CLOSE: Market dips, but holds above 4500 Daily ShareChat: Sky Network Television While you were sleeping: Greece relief in sight Dollar pushes above 69 US cents amid prospect of relief for Greece Stocks to watch: Sky TV subscription outlook dim, Warehouse bonds Eastern Bay Energy Trust seeks court ruling on deed, halts Horizon takeover Vector wins $4.6m dispute with BOP Energy over gas charges Electronic card transactions climb for third month Tax avoidance settlement pushes ASB to first-half loss Earnings season to reflect slow 'grind' out of slump English expands on tax package parameters Kahili gasfield may be revived as government seeks bids Postie Plus narrows first-half loss, shares climb NZX CLOSE: NZ shares gain; Fletcher trade dominates, FPA gains ASX CLOSE: Market gains, financials disappoint Daily ShareChat: New Zealand Oil & Gas Monday 15th February 2010 While you were sleeping: Bernanke's cold water splash NZ dollar climbs back above 69 cents ahead of China CPI, Australian jobs data Stocks to watch: Telecom, Contact Energy, Steel & Tube, Tenon NZ manufacturing expanded last month on production, new orders: PMI Fonterra postpones XT roll-out following outages on Telecom network Tourists to NZ underpin gains in December accommodation numbers Steel & Tube first-half profit tumbles 85% on weaker steel prices, less demand Super Fund kicks manager off the team TelstraClear earnings growth stalls amid slower capital spending Botherway quits DNZ board Falling NZ house sales may indicate faltering economic recovery L&M Energy crosses fingers for latest Taranaki seismic survey Contact shares hit 7-month low on price rise announcement Fonterra cuts bond sale to $150 million after sourcing cheaper offshore funds NZX CLOSE: NZ shares fall; Contact, Steel & Tube, Cavalier decline Mighty River Power lengthens book with $100 million bond issue ASX CLOSE: Bargain hunters push market higher Daily ShareChat: AMP NZ Office Trust While you were sleeping: Short of details, risk remains South Canterbury faces $1.1 billion in redemptions this year Stocks to watch: Telecom, Contact Energy, Tenon NZ dollar pushes above 70 US cents on Australian employment data, Greece bail-out Telecom second-quarter underlying profit slumps 24% amid shrinking sales House sales dry up in January Appliance wars and lattes keep retail sales rising in December quarter Auckland Airport heads to Supreme Court over land claim IN DETAIL: Telecom cost-cutting measures fail to halt second-quarter profit slide Weekly Diary for Monday 15th February 2010 2degrees mobile customer numbers push total market over 5 million EXCLUSIVE: Fonterra's Ferrier sees dairy prices stabilising, long-term growth Accounting and tax news round up Brugh appointed as Macquarie investment adviser Key flays Bollard for ignoring NZ's water and mineral potential MARKET CLOSE: NZ shares edge up amid gloomy opening to earnings season ASX CLOSE: Slight rise for ASX200; market still nervous Daily ShareChat: Sky City Entertainment Group World Week Ahead: Focus intensifies on euro-zone outlook Stocks to watch: AMP Office, Auckland Airport, LME, NZX, TEL NZ dollar falls amid uncertainty over Greece bailout plant NZX takes $20 million hit on value of TZ1 post-Copenhagen Freightways posts 14% drop in first-half profit, sees NZ services sector expands for a third month, paced by new orders: PSI NZ Dollar Outlook: Kiwi likely to hold above 68 US cents amid Europe debt issues Top tech lawyer joins Copyright Tribunal NZX CLOSE: NZ shares fall; NZX drops on TZ1, Freightways down after earnings ASX CLOSE: Market closes lower with subdued trading Daily ShareChat: Contact Energy While you were sleeping: Positive start in Europe NZ dollar inches higher amid Asia, US holidays; Greece outcome awaited Stocks to watch: Contact, Freightways, NZX, Sealegs 42 Below founders plan another IPO GPG ups offer for listed Australian farmer Tandou; looks to rationalise its assets SkyCity profit surges 30% as debt buyback slashes interest costs; stocks gains Hercules upgrade delays cost 100 jobs in Blenheim Westpac first-quarter profit rises about 33% on loan demand, fewer defaults Costs up, prices received down as NZ producers face squeeze at both ends Government guarantee holds key to South Canterbury Finance's future: Maier: Refinery announces slashed profit for year with reduced margins to continue Uruguay dairy venture improves on last season Buddle Findlay appoints six senior associates New Zealand bioscience sector growing, seeking capital ASX CLOSE: Westpac steals the limelight, jumps 6.2% NZX CLOSE: NZ shares gain; Westpac lifts on earnings growth, SKC advances Daily ShareChat: Harvey Norman While you were sleeping: Barclays bolsters optimism Dollar holds as markets pick RBA to keep hiking rates Stocks to watch: Fletcher earnings, Contact rated 'buy' Fletcher posts 11% drop in first-half earnings Boost for Contact's customer numbers ING Medical takes swipe at proposed tax tweaks Ports of Auckland lifts profit, pays dividend $10m at stake for Greymouth Petroleum in tax plea Cynotech ho-hum on Hawkins takeover offer NZX CLOSE: NZ shares rise for 2nd day, led by banks ASX CLOSE: Widespread buying buoys market While you were sleeping: Banks bolster Europe Daily ShareChat: AMP Office Trust Tenon breaks even in first half; demand from China grows Skellerup claws out of recession despite profit dive in first half Stocks to watch: Fletcher, Skellerup, ING Medical, Mainfreight, Tenon Telecom request to exempt VDSL from unbundling rebuffed Mainfreight posts 12% drop in 9 months profit, sees pickup through year-end NZ dollar holds above 70 US cents amid ongoing concerns over European debt Australian trading helps lift Michael Hill's pretax earnings Commerce Commission places new Telecom VDSL services outside regulations Tougher rules coming for fund managers and trustees AMP still interested in AXA despite rejection Imputation tax credit to stay: English NZ credit ratings flow in as non-bank deposit takers gear up for regulation Consumer confidence dims in February amid rising unemployment Govt unveils major work programme from Capital Markets Development Taskforce OceanaGold to raise about US$75 million from investors to close out hedge contracts MARKET CLOSE: NZ shares drift lower as Europe weighs; Mainfreight, Skellerup TeamTalk boosts profit 38%, outlook hinges on broadband decisions ASX CLOSE: Qantas falls short of expectations; ASX 200 dips Daily ShareChat: Steel & Tube Holdings While you were sleeping: Stocks extend gains NZ dollar: all eyes on RBA Governor’s testimony to Parliament Stocks to watch: Skellerup, TeamTalk and Sky TV profit surges Sky Network 1H profit climbs 19% as MYSKY start-up costs abate, sales grow Pike River makes first export shipment as investors await capital raising plans Monday 22nd February 2010 Weekly Diary for Monday 22nd February 2010 NZ govt urged to sack Environment Canterbury, appoint commissioners Kiwi dollar falls below 70 US cents as Fed signals early exit Late resource consent decisions to trigger penalties on NZ local bodies Contact lodges geothermal consent application under new fast-track rules Treasury less downbeat over finance companies, cuts provisions by $100 million UPDATED: Turners Auction FY profit triples as fewer Japanese imports slash costs Charlie’s abandons plans to raise equity as trading picks up: National Australia Bank 1Q earnings growth stalls; bad debt charges abate South Island ports say merger in the hands of the regulator, shareholders Huljich KiwiSaver Fund withdraws statement Will the New Zealand wine industry face oversupply? Allied Farmers contemplates legal action over NZX 50 Index exclusion NZX CLOSE: Shares edge higher; Sky TV gains with earnings, TUA jumps NZX confirms Allied Farmers is out of the NZX 50; stock tumbles Daily ShareChat: Freightways World Week Ahead: Equity rally expected to renew NZ dollar pushes back above 70 US cents as Fed talks down early exit strategy Stocks to watch: Turners, Allied Farmers, Cavalier, SKT, TEL, CEN "Big four" power companies to report this week: Cavalier sees gradual pickup in carpet sales, lifts full-year guidance Property for Industry earnings up 1.4%, portfolio value shrinks for second year Telecom, Vodafone win over regulator on mobile rates Allied Farmers not happy with NZX50 explanation NZ Dollar Outlook: Kiwi likely to stay below 71 US cents this week MightyRiverPower first-half earnings flat against historical trends Fairfax returns to profit as newspaper earnings weaken, online growth continues XT network out again ASX CLOSE: Market closes 1.8% firmer NZX CLOSE: NZ shares rise; Cavalier up on guidance, ALF extends slide Daily ShareChat: Kathmandu While you were sleeping: Stocks slip, directions awaited Stocks to watch: Contact Energy, Auckland Int'l Airport, Cynotech, KMD, SKT Contact posts flat underlying earnings; tariffs Charlie's squeezes more profit, Australian sales drive uplift NZ dollar holds above 70 US cents as Yellen reiterates low American rates Telecom network executive resigns amid ongoing XT outages NZ housing confidence still upbeat, if somewhat tarnished: ASB NZ Refining sees tough times enduring through 2010, with slim margins APN News returns to profit, sees better 2010 trading, earnings NZ Super Fund loses money in January, but up for the financial year PGC makes its divisions transparent for eventual banking licence bid Enough is enough - Alcatel-Lucent on notice over XT outages: Reynolds: NZX CLOSE: NZ shares mixed; Telecom drops on compo, guidance, ALF gains NZX to review index-setting processes after criticism of Allied case Morningstar questions Huljich in KiwiSaver survey, poor performers bounce back in 2009 ASX CLOSE: Bulls and bears engage in an arm wrestle Blue Chip founder Bryers pleads guilty, faces fines Daily ShareChat: Sky City Entertainment Group While you were sleeping: US consumer confidence drops, stocks follow Dollar tumbles amid disappointing US, German data Pike to meet cash shortage with $50m fund-raising Stocks to watch: Charlie's, Contact, Pike Tourism Holdings turns to 1H profit Rubicon in trading halt pending capital-raising announcement NZOG reports first-half loss Oyster Bay first-half loss shrinks on cost control Comvita completes global licensing deal with Derma Sciences Com Com expects pick-up in merger activity Tidy first-half from Genesis Energy Meridian cashes in on high rainfall in first half TVNZ interim profits take 51% hit Big private companies can keep their secrets, says Power NZX CLOSE: NZ shares mixed; Pike falls on capital raising, Contact gains ASX CLOSE: Kneejerk reaction to US confidence figures pulls market down Daily ShareChat: ING Medical Properties Trust While you were sleeping: Bernanke confidence boost ACIL, preparing to list on the NZX, may move quickly to raise funds NZ dollar edges up as Bernanke says US rates will stay low Wrightson names John Anderson as chairman, returns to profit on weaker sales Fonterra lifts forecast for distributable profit but keeps milk payment unchanged Stocks to watch: Comvita, NZOG, PGW, Pike Coal River Metlifecare returns to profit after recognising gain in property values Port of Tauranga first-half profit rises 2% on cost control as sales fall AMENDED: A2 reduces first half loss despite revenue slump Heatley resigns from housing, fisheries portfolios over credit card spending Australian Consolidated Insurance to tap investors for $10 million after completing Lombard takeover Goodman Fielder fattens margins in first half, lifting profit by 25% Nuplex posts record jump in profit as China buys high-margin chemicals Downer EDI ekes out 1.9% gain in first-half profit as sales growth stalls Hellaby first-half profit soars as it recoups provision on BBQ Factory sale NZ business confidence jumps to 10-year high, pointing to economic recovery NZX CLOSE: NZ shares rise; Wrightson, HBY gain on earnings Powerco, showing resilience in face of recession, posts first-half profit ASX CLOSE: Investors offload stock into strength; ASX200 falls Daily ShareChat: Opus International Consultants While you were sleeping: Warnings and warning signs Ebos, heading for record FY profit, has $100 million to spend on acquisitions Widespread wins Chatham Rise permit Lyttelton Port profit drops 35%, full year result to be at low end of forecast range Stocks to watch: AIA, Air NZ, Nuplex, Hellaby, Ebos Air NZ profit doubles on lower fuel costs, sees weaker second half NZ dollar weakens as weak US data undermines risk appetite Auckland Airport holds its own in first-half, new hotel for RWC Pyne Gould posts profit of $10.1 million as impairments fall, reiterates FY target Sweeping changes to governance and management fees at AMP NZ Office Trust Monday 1st March 2010 NZ building consents fall for a second month as economic recovery drags Weekly Diary for Monday 1st March 2010 Sir John Anderson to become chairman of PGG Wrightson South Canterbury makes early exit from noteholders Wine lake sinks Delegat's share price as major write-downs loom Vector's first-half earnings rise 11.6% on lower debt costs NZ records smallest annual trade gap in more than 7 years on weak imports Slumping prices and strike action pole-axe Solid Energy's first half ANZ Bank's NZ underlying earnings fall 19% South Canterbury Finance makes early repayment of US facility Kiwi Income snares 90-year lease for $16.5 million in Auckland's showcase Wynyard Quarter NZX CLOSE: NZ shares edge higher; Ebos, AMP Office, ANZ Bank rise ASX CLOSE: Erratic behaviour returns to markets March 2010 1st - Daily ShareChat: Fletcher Building World Week Ahead: Economy, jobs back in focus NZ dollar in 'holding pen' ahead of tomorrow's RBA announcement Stocks to watch: Guinness Peat, Ebos, APT, AIA, DGL, TEL Guinness Peat puts value return back on priority list as losses continue NZX full-year profit reflects hit on TZ1 writedown, first-half gains NZ annual migration climbs, adding to demand for housing, consumer goods Securities Commission director resigns NZ Dollar Outlook: Kiwi to remain range-bound while EU mulls Greece rescue Strategic Finance first-half loss worse than expected NZ commodity prices post 12th straight gain to highest in 18 months: ANZ NZX CLOSE: NZ shares rise; GPG gains on Coats, PPL up before earnings ASX CLOSE: Markets firmer; consumer staples sector standout performer Hubbard tips Helicopters, Scales into South Canterbury for $162.5 million equity, cash Diligent gets new chairman Morgan and two others join Fairfax board TV3 pinches key TVNZ exec Daily ShareChat: NZ Refining Value of Hanover, United assets more than halves for Allied under IFRS spotlight While you were sleeping: Stocks rise on recovery bets NZ dollar poised to rise above 70 US cents if RBA Governor hikes interest rates Stocks to watch: GPG, Pumpkin Patch, Delegat's, WDT, NZR, ALF Windfarms posts first-half loss Pumpkin Patch first-half profit jumps 50% NZX trading volume, value continues to pick up in February KiwiRail first-half profit two-thirds below target amid tussle over capex NZX CLOSE: Shares gain; Pumpkin Patch lifts on profit, GPG up Australia raises key interest rate to 4% New senior associate for Simpson Grierson Flying changes at airlines ASX CLOSE: Market gives muted reaction to rate rise Bayleys makes appointments for new business strategy Daily ShareChat: New Zealand Oil & Gas While you were sleeping: Greek budget cuts ahead Hubbard's aid to South Canterbury fails to prevent credit rating cut to BB Stocks to watch: Allied, AIA, GPG, NZO, PPL Fonterra milk powder prices unexpectedly rise Dollar sinks vs Ausi dollar after RBA hikes rates Call for businesses to renegotiate funding earlier Listings hit 11-month high in Auckland Meridian to shed southern customers NZX CLOSE: NZX 50 climbs to 6-week high; Westpac, PPL, GPG gain ASX CLOSE: Market finds strength from materials and industrial sectors While you were sleeping: Greece bites the bullet Daily ShareChat: Ebos Group NZ dollar lags behind risk currencies' gains as Greece starts sorting out its debt: Stocks to watch: Guinness Peat, Pumpkin Patch, Telecom, Tourism Holdings, Ebos Huljich falls on his sword and resigns Australia not going to 'slow down' to let New Zealand catch up Restaurant Brands full-year profit jumps 67% Taskforce report says CRIs need shelter from bureaucrats New manager appointed for SBS Bank Blenheim SmartPay expects underlying profit this year, examining debt facilities More of Fisher’s companies being taken over NZX CLOSE: 7th day of gains; RBD jumps, SPY, TEL rise Daily ShareChat: Hellaby Holdings While you were sleeping: Stocks flat, euro slips Moody's cranks down ratings on Australasian banks' hybrid securities NZ dollar falls amid growing speculation for US rate hike Stocks to watch: Telecom's former CEO speaks out, RBD boosts guidance, PGC UPDATED: TVNZ launches pay TV channel, via Sky NZ govt accounts swelled by bank tax settlement; English warns of lean budget Restaurant Brands sales rise 5.3%, led by KFC turnover Weekly Diary for Monday 8th March 2010 Monday 8th March 2010 Te Rapa Expressway goes to Opus/Fulton Hogan consortium Hoki-1 well ready for drilling Accounting and tax news round up Solid Energy opens southern hemisphere's largest wood pellet plant MARKET CLOSE: NZX 50 lifts to 6-week high; PPP swings back to gain; ALF falls NZX moves to clean up Index memos Allied Farmers puts Hendo's Five Mile development in receivership Fyfe joins up with 42 Below founders Daily ShareChat: APN News & Media NZ property values grow at a slower pace in February: QV World Week Ahead: Recovery shifts into a new gear Stocks to watch: Allied Farmers, NZOG, PGW, TEL, APN NZ dollar holds gains as risk appetite grows, RBNZ statement awaited MPS Preview: NZ central bank unlikely to rush rate increases NZ manufacturing, construction show pick-up as economy gradually revives NZ Dollar Outlook: Investors wait for Reserve Bank's Thursday pronouncement Auckland retail and commercial property market holds steady as economic growth awaited Changing of the guard at OMFinancial Provinces' retail spending outpaces New Zealand's major centres MARKET CLOSE: NZX 50 edged up to 7-week high; Pike, Air NZ advance ASX CLOSE: Market surges through 4800 Sky City loses a director Daily ShareChat: Diligent Board Member Services While you were sleeping: Stocks in a holding pattern Stocks to watch: Fletcher Building, Contact Energy, Freightways, Cue, Diligent, THL NZ dollar little changed ahead of MPS, signs of stability in Europe Briscoe's Duke 'cautiously optimistic' for 2010 after surge in annual profit Curtin faces more legal action over Vestar dealings Plus SMS slapped with fine, threatened with de-listing for improper reporting NZ consumer spending on debit, credit cards falls 0.4% PostiePlus expects 'tidy profit' by year end, Boskell says: Commerce Commission's restricts Curtin's role after private legal proceedings filed NZX unveils 'fundamental change' strategy, based on derivatives and clearing facilities: Allied's $220 million write-down may understate recoverable loans New twist in Horizon takeover saga as panel investigates directors MARKET CLOSE: NZX 50 snaps 9-day rally; PFI, PPP fall, Pike gains Mid-sized New Zealand businesses move on from survival mode; road ahead may still be bumpy Daily ShareChat: Nuplex Industries While you were sleeping: Investors in holding pattern Stocks to watch: Allied, Fletcher, HED Wholesale funding guarantee no longer needed: English Dollar edges up before trade data and MPS Satara earnings drop 24% Wakefield Health in trading halt Terms of trade rises more than expected on weak imports Australian consumer sentiment keeps edging up Kiwibank to offer tradeable preference shares to raise $100m NZX CLOSE: Shares rise; Pumpkin Patch, MHI lead gains ASX CLOSE: Market closes session flat New MD at Milford Asset Management Founder resigns from smart metering company Daily ShareChat: Pumpkin Patch While you were sleeping: Stocks steady, yen drops OCR unchanged, mid-year hike reiterated AMENDED: Wakefield Health seeks control of fourth hospital with $22.6 million offer Stocks to watch: Pumpkin Patch, Freightways, FPH, Briscoes, Wakefield Health NZX to consider Allied Farmers for NZX 50 at June review FULL REPORT: Bollard keeps OCR at 2.5%, reiterates mid-year timing for rate hike Emissions Trading Scheme set to stoke inflation, Bollard says NZ dollar slips after MPS keeps timing of rate hikes intact Lombard shareholders approve plan for reverse takeover of Australian Consolidated New Zealand food prices fall in February Shell name to stay as Infratil focuses on Australasian energy assets TrustPower sees one more year of intense retail electricity competition Hoki-1 nears half-way mark at 1505 metres New Zealand manufacturing warms up as recession-effects ease Business A-listers test waters for super-fast Pacific cable venture NZX CLOSE: Shares mixed after MPS, kiwi falls; RBD up, GFF down Two new board members for Meat and Wool NZ Daily ShareChat: Contact Energy Monday 15th March 2010 While you were sleeping: Inflation fears take toll Stocks to watch: Contact, TrustPower, Infratil, PGC, IMP, TLS Two new board members for Meat and Wool NZ Warehouse seeks $100 million in tradeable bond offer NZ dollar, little changed, could push higher on strong retail sales figures Warehouse first half profit gains on year-earlier costs Perpetual Portfolio Management adds to its team Steam still coming out of house sales: REINZ Pyne Gould's MARAC gains admission to government's extended Retail Deposit Guarantee Scheme: NZ retail sales rose in January, led by vehicles; core sales weaker than forecast Accommodation providers experience best month ever in January Weekly Diary for Monday 15th March 2010 NZ food innovation initiative aims to fast-track new product commercialisation Sumitomo moves to take 20% of Nufarm, gaining Australasian farm chemicals Strategic Finance in receivership MARKET CLOSE: NZ shares slip; Warehouse down after result, PGC gains
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“It must be remembered,” the PR-attenuated Simon Power commented in his ‘fast-track’ release this week, “that though KiwiSaver was set up by government, risk is inherent in investment decisions, and those investments are not guaranteed by government.”
It’s incredible Power has to keep peddling this message; it shouldn’t need saying anymore. [...]
” David Chaplin More »
