Sharemarket News

MARKET CLOSE NZ shares rise as Genesis debut sparks energy rally; Meridian, MRP, Contact gain
17 Apr, 5:40pm
New Zealand stock rose after shares in the partially privatised Genesis Energy soared as much as 18 percent in its debut listing on the NZX, buoying other listed energy companies in the process. Meridian Energy, MightyRiverPower, Contact Energy and TrustP... More »

Landmark Supreme Court decision protects 'outstanding landscapes'
17 Apr, 5:25pm
The Supreme Court has upheld resource consents for three salmon farms to be developed in the Marlborough Sounds by the King Salmon company, but in an important win for the protection of "outstanding landscapes", it has ruled against a fourth site... More »

NZ dollar heads for 0.8 percent fall in short week as RBNZ rate review looms
17 Apr, 5:05pm
The New Zealand dollar is heading for a 0.8 percent fall in a shortened week ahead of the Reserve Bank's rate review next Thursday... More »

Air New Zealand says claims withdrawn as other airlines settle over cargo cartel, seeks costs
17 Apr, 4:55pm
Air New Zealand says claims against it as part of a class action lawsuit in Australia over alleged price fixing on freight have been withdrawn and the airline won't be contributing to an A$38 million settlement by other airlines... More »

AMP Capital selling kiwi dollar in expectation of decline
17 Apr, 3:30pm
AMP Capital New Zealand, which manages more than $18 billion of assets, anticipates the kiwi dollar will start falling, and has started reducing its holdings in the local currency... More »

BNZ's new CEO Healy expects benefit from expanding economy, targeted investment
17 Apr, 3:10pm
Bank of New Zealand's incoming chief executive Anthony Healy expects the lender to benefit from the nation's burgeoning economy as he targets investment in higher growth areas such as agri-business... More »

Genesis Energy soars on debut, leading fellow energy companies higher
17 Apr, 2:55pm
Shares in the partially privatised Genesis Energy soared 18 percent at their debut listing on the NZX this afternoon, buoying other listed energy companies in the process... More »

'Chipper' kiwis push up consumer confidence in April
17 Apr, 1:50pm
New Zealand consumer confidence rose in April as kiwis became more confidence about their own financial position, giving them greater enthusiasm for buying major household items... More »

Genesis shares stag 17 percent at listing, trade at $1.81
17 Apr, 1:05pm
Shares in the partially privatised Genesis Energy debuted on the NZX this afternoon, rising 26 cents, or 17 percent, from their $1.55 issue price, to $1.81 in the first minutes of trading... More »

Dick Smith slows NZ sales decline after shifting some functions to Australia, outsourcing
17 Apr, 1:00pm
Dick Smith Holdings, the electronics retailer that went public last December, says it slowed the rate of sales decline at its New Zealand stores after shifting some support functions to Australia and outsourcing deliveries... More »

Labour to double depreciation rate in targeted industries
17 Apr, 12:55pm
The major new element in the Labour Party's manufacturing policy, announced today, assumes depreciation rates for assets in each affected industry would double, a party spokesman says... More »

BNZ names Anthony Healy as new CEO, replacing Thorburn
17 Apr, 11:10am
Bank of New Zealand, the local unit of Australia's third-biggest mortgage lender, named the head of its business bank, Anthony Healy, as its new chief executive... More »

Accelerated depreciation, buy Kiwi-made core of Labour manufacturing policy
17 Apr, 10:15am
The Labour Party has unveiled its pitch to the manufacturing sector, adding accelerated depreciation for advanced manufacturing and promising to target more government procurement from local firms... More »

NZ dollar drops to five-week low vs. sterling after upbeat UK employment report
17 Apr, 9:15am
The New Zealand dollar dropped to a five-week low against the British pound after UK unemployment fell more than expected and wage growth accelerated, turning investor attention to the possibility of higher interest rates... More »

KiwiSaver tax rates need fixing, world's 'most punitive', says savings lobby
17 Apr, 8:00am
New Zealand's tax system heavily penalises KiwiSaver while offering massive tax breaks to property investors and needs to change, says savings lobbyist the Financial Services Council... More »

While you were sleeping Yellen shows support
17 Apr, 7:45am
Wall Street rose after US Federal Reserve Chair Janet Yellen reassured investors that the central bank will continue with its easy money policy to bolster the US economic recovery... More »

NZ dollar falls to nine-day low after slower than expected inflation
16 Apr, 5:05pm
The New Zealand dollar dropped to a nine-day low after slower than expected inflation raised questions over the track of rising local interest rates... More »

Delegat's founder Jim Delegat to step back from daily operations
16 Apr, 3:35pm
Jim Delegat, founder of Delegat's Group, is stepping down from running the winemaker's daily operations to focus on the company's strategic direction... More »

NZ government scales back larger scale applications in Genesis Energy float
16 Apr, 3:25pm  1 comment
The government will progressively scale down applications for large shareholdings in Genesis Energy ahead of tomorrow's listing after the final partial privatisation in the current programme attracted 68,000 investors... More »

Diligent shares jump as first-quarter figures show growth slowing less than feared
16 Apr, 3:20pm
Diligent Board Member Services stock rose as much as 12 percent after the governance app developer posted quarterly figures showing sales growth hasn't slowed as much as some investors had expected... More »