Sharemarket News

Flick customer base drops to 15-month low amid high power prices
17 Dec, 1:24pm
High wholesale power prices saw Flick Electric’s customer base drop to a 15-month low in November... More »

Massey University launches a real-time GDP tracker
17 Dec, 1:05pm
Massey University’s Knowledge Exchange Hub has launched a new tool aimed at providing a real time measure of GDP... More »

NZ guest nights hit a new record in October
17 Dec, 12:26pm
Total guest nights hit a new record in the year to October, with hotels, motels and holiday parks all recording increases as tourism numbers continue to climb... More »

NZ service sector activity dips in November but still expanding
17 Dec, 11:40am
Activity in New Zealand's services sector grew at a slower pace in November as sales eased and supplier deliveries declined. ... More »

Christmas shopping starts to take off
17 Dec, 11:39am
The Christmas shopping spree is heating up with spending excluding fuel jumping to $1.27 billion in the second week of December, up 6 percent compared with the first week... More »

Could Australian banks float their NZ subsidiaries?
17 Dec, 11:21am
The Australian parents of New Zealand’s four largest banks would need to transfer about A$18 billion of capital to their subsidiaries to meet proposed new capital rules, according to Macquarie Equities... More »

Ngāi Tahu backs out of Agria deal, takes direct stake in Wrightson
17 Dec, 10:32am
Ngāi Tahu Capital has taken a direct stake in PGG Wrightson, ending a seven-year relationship with Singapore-domiciled Agria as the foreign investor's grip on the rural services firm remains uncertain. ... More »

Mercury to sell meter business for $270 mln
17 Dec, 9:54am
Mercury NZ has agreed to sell its Metrix metering business to IntelliHUB Group to simplify its business and focus on faster-growing activities... More »

Expect a soggy GDP reading for the September quarter
17 Dec, 8:36am
September quarter gross domestic product data due for release on Thursday is expected to reflect an economy running out of puff after the very strong June quarter performance... More »

NZ dollar hits 6-month low as global growth fears dent investor sentiment
17 Dec, 8:35am
The New Zealand dollar fell to a six-month low as weaker than expected European and Chinese data added to fears about the pace of global growth. ... More »

MARKET CLOSE: NZ shares fall as investor uncertainty weighs on exporters; F&P Health, A2 drop
15 Dec, 2:05pm
New Zealand shares fell as uncertainty over the global economy and US-China trade tensions pushed Asian markets lower. Exporters Fisher & Paykel Healthcare, A2 Milk and Comvita all declined. ... More »

NZ dollar drops below US68c on plan to up bank capital
14 Dec, 5:46pm
The New Zealand dollar fell below 68 US cents for the first time in two weeks after the Reserve Bank outlined plans for lenders to hold greater capital reserves, which would likely boost borrowing costs and slow the economy... More »

Noel Leeming fined $200,000 for misleading consumers
14 Dec, 5:43pm
Noel Leeming has been fined $200,000 for misleading consumers about their rights under the Consumer Guarantees Act following a Commerce Commission prosecution... More »

Big four banks face stiffer capital requirements from RBNZ
14 Dec, 5:41pm
The big four Australian-owned banks will have to hold on to more of their domestic earnings over the next five years if the Reserve Bank goes ahead with its proposal for stricter capital requirements... More »

Infratil signals A$50m investment in Canberra Data Centres
14 Dec, 3:45pm
Infratil says it expects to invest up to another A$50 million in Canberra Data Centres to help fund its on-going growth... More »

Govt provides $2.5 mln to develop Opotiki aquaculture
14 Dec, 1:16pm
The government has committed more than $2.5 million from the Provincial Growth Fund to help expand marine farming at Opotiki... More »

Labour co-ordinator role may alleviate kiwifruit labour shortage
14 Dec, 12:37pm
The New Zealand kiwifruit growers' association says it has gained support from the government’s Provincial Growth Fund and the Ministry of Social Development to employ a labour coordinator to try to alleviate an expected staff shortage in 2019... More »

NZ manufacturing activity chugs along in November
14 Dec, 12:14pm
New Zealand manufacturing activity grew at a slightly slower pace last month, hovering around its long-run average, as the sector recovers from a mid-year lull. ... More »

Australia's GWA lobs in $118M bid for Methven
14 Dec, 11:31am
Australian kitchenware firm GWA Group is mounting a $118 million bid for Kiwi tapware maker Methven and has the blessing of cornerstone investor Brendan Lindsay, barring a better offer emerging. ... More »

Govt leaves door open for higher emissions price cap
14 Dec, 11:16am
The government appears to have left the door open for an increase in emission prices before it moves to regular auctions of emission units in 2020... More »