Sharemarket News

RBNZ steps up BNZ supervision after capital calculation breaches
19 Nov, 5:18pm
The Reserve Bank says it has stepped up its supervisory monitoring of Bank of New Zealand after identifying weaknesses in the bank's capital calculation processes. RBNZ says it's also applying "precautionary adjustments" to BNZ's capital requirements, inc... More »

Beehive lobbied for revised StuffME deal
19 Nov, 3:22pm
NZME has confirmed reports that it's been lobbying the government to let it buy rival Stuff, a year after the Court of Appeal endorsed the Commerce Commission's opposition to the creation of a dominant newspaper group.  The dual-listed company said i... More »

Ebos shares fall 9.5% as biggest shareholder sells at a discount
19 Nov, 3:14pm
Ebos Group fell 9.5 percent after the company said its largest shareholder Sybos Holdings was selling about a third of its shares at a discount.  Shares of the healthcare and animal product company were trading at $22.60 on Tuesday afternoon, down $2... More »

ComCom unmoved by warning on fibre investment in draft regime
19 Nov, 1:25pm
The Commerce Commission expects competition from the likes of mobile carriers and the prospect of extra revenue derived from new services will be enough to keep network operators such as Chorus investing in their infrastructure.  The commission today... More »

BREAKING: Govt adds vital infrastructure to overseas investment test
19 Nov, 1:15pm
Foreign investment in essential infrastructure assets will be subject to a new 'national interest' test under further reforms to the Overseas Investment Act by Associate Finance Minister David Parker. The test will apply to any foreign investment applicat... More »

Judges recommend changes to help Chinese litigants
19 Nov, 11:11am
Research into challenges faced by growing numbers of Chinese litigants has seen judges recommend minimum standards for interpreters and changes to court processes.  Mai Chen’s Superdiversity Institute launched a study into cultural and linguist... More »

Napier Port beats FY forecast; monitoring log export outlook
19 Nov, 11:07am
Full-year earnings at Napier Port Holdings beat the company’s prospectus forecast by 3.2 percent on record log volumes and as higher than projected refrigerated cargo volumes boosted container volumes and average revenue. The firm, which listed its... More »

A2 shares surge on stronger margin outlook
19 Nov, 11:05am
A2 Milk shares jumped 14.2 percent after it said it expects annual operating profit margin will be stronger than previously communicated and in the range of 29-30 percent.The shares jumped to $14.62 from $12.80 when trading opened at 10am, still shy of it... More »

A2 raises operating profit margin expectations
19 Nov, 11:01am
A2 Milk says it expects annual operating profit margin will be stronger than previously communicated and in the range of 29-30 percent. On Aug. 21 when it released its annual results, A2 said it expected earnings before interest, tax, depreciation and amo... More »

Arvida on track as first-half profit climbs 47%
19 Nov, 9:47am
Arvida Group, the retirement village and aged care facilities operator, said it expects earnings momentum to continue after first-half profit rose by 47.4 percent, buoyed by increased property valuations.  Net profit after tax rose to $45 million in... More »

NZ dollar holds above 64 US cents on improved local data, dairy outlook
19 Nov, 9:29am
The New Zealand dollar held above 64 US cents on the back of improving local data and the prospect of a further lift in prices at the next Global Dairy Trade auction. The kiwi was barely changed at 64.04 cents at 8am from 64.02 cents last night. The trade... More »

OMV selling out of Maari oil field
19 Nov, 9:20am
OMV has agreed to sell its majority stake in the Maari oil field as part of its strategy to shift its production away from heavier-emitting resources. The firm, which also manages the Maui and Pohokura gas fields, will sell its 69 percent interest in the... More »

Kiwi Property eyes apartments, funds management
19 Nov, 9:09am
Kiwi Property Group is investigating ways of branching out from its core business, including moving into funds management, as Stride Property has done, and building apartment complexes to rent. Over the last year or so, Kiwi has refined its strategy to op... More »

Telcos urge govt to act on 5G scaremongering; ministers ignore visiting 'expert'
19 Nov, 9:02am
New Zealand's largest telecommunications operators are urging the government to step up efforts to counter scaremongering suggesting that microwave exposure from 5G internet services could affect human health. Opponents of the emerging technology have ann... More »

MARKET CLOSE: NZ shares fall as Sky TV, Steel & Tube warn on earnings
19 Nov, 9:01am
New Zealand shares fell as investor confidence was dented by profit warnings from Sky Network Television and Steel & Tube Holdings.  The S&P/NZX 50 Index declined 21.54 points, or 0.2 percent, to 10,873.16. Within the index, 23 stocks fell, 2... More »

NZ dollar becalmed, awaiting reasons to move
18 Nov, 5:28pm
The New Zealand dollar was little changed as the market awaited further explanations from central banks in Australia and the United States of their current monetary policy stances and for further news on whether the US and China will sign their long-promi... More »

Huawei still in no-man's-land as Spark presses ahead with 5G build
18 Nov, 5:00pm
Huawei Technologies is still on Spark New Zealand's list of go-to telecommunications kit suppliers, but won't keep waiting for the Chinese firm to get security clearance to build its 5G mobile network. New Zealand's biggest telecommunications company will... More »

Trustpower signals $11 mln profit boost from metering sale
18 Nov, 1:14pm
Trustpower expects to boost full-year net profit by about $11 million following the sale of its metering business to Financial Corporation. The power generator and retailer didn’t disclose the sale price on the transaction completed on Friday. But i... More »

Chorus defeats secrecy breach claim
18 Nov, 1:09pm
A High Court judge has ruled Chorus did not breach a non-disclosure agreement or fiduciary duties alleged between it and a consultancy.  Creative Development Solutions had claimed Chorus took its ideas on board from a mooted joint venture and used th... More »

Hedging losses drag Kiwi Property first-half net profit down 23.8%
18 Nov, 11:56am
Kiwi Property Group's first-half net profit fell 23.8 percent as the value of its hedging dropped amid falling interest rates. Net profit for the six months ended September fell to $36.8 million from $48.3 million a year earlier, with funds from operation... More »