Sharemarket News

MARKET CLOSE: NZ shares rise in light volume trade, led by Spark, Z; Sky TV falls
26 Jun, 5:44pm
New Zealand shares rose, led by Z Energy and Spark New Zealand in relatively light trading, while Sky Network Television fell after the pay-TV operator and Vodafone New Zealand terminated their merger agreement, although it did pare some of its losses ove... More »

NZ dollar little changed near 4-month high, long positions seen capping gains
26 Jun, 5:43pm
The New Zealand dollar was little changed near a four-month high and may struggle to push much higher because of the sheer weight of bets on a rise which traders say put the kiwi at more risk of a correction... More »

Bendon posts wider loss despite better sales as Naked merger nears
26 Jun, 4:03pm
Underwear maker Bendon, owned by NBR Rich Lister Eric Watson, has disclosed mounting losses related to tax adjustments as a proposed merger with Nasdaq-listed Naked Brand Group draws nearer... More »

Govt settles on high-level EQC reforms after five-year long review, eyes 2020 implementation
26 Jun, 2:39pm
The government has settled on a handful of high-level reforms to the Earthquake Commission after what's been a five-year review process, although it will still be another three years before those changes are expected to be in place... More »

Woolworths sells EziBuy for undisclosed sum to Sydney investment firm Alceon
26 Jun, 1:49pm
ASX-listed supermarket chain operator Woolworths has sold New Zealand clothing and homeware retailer EziBuy for an undisclosed sum to Sydney-based investment firm Alceon Group... More »

Stride Property promotes Philip Littlewood to CEO after six-month spell in joint acting role
26 Jun, 12:50pm
Stride Property Group, which last month beat annual profit forecasts, has promoted Philip Littlewood to chief executive after the former GM investment management spent six months in a joint acting role with chief financial officer Jennifer Whooley... More »

Appeal court strikes down Ngatata Love's bid to quash fraud conviction, sentence
26 Jun, 11:25am
The Court of Appeal has rejected a bid by one-time Maori luminary Ngatata Love to overturn his conviction and jail sentence for defrauding the Wellington Tenths Trust while he was chair of the iwi body... More »

Livestock Improvement to lift stake in UK's National Milk Records to 17.2%
26 Jun, 10:25am
Livestock Improvement Corp, or LIC, is to increase its holding in National Milk Records (NMR) to 17.2 percent from 2.6 percent after agreeing to subscribe for shares to allow the UK farm management recording services to fund its exit from a pension fund... More »

NZ King Salmon lifts annual earnings guidance on appetite for fish
26 Jun, 9:21am
New Zealand King Salmon Investments expects annual earning to beat its offer document forecast on strong demand for its products and affirmed its projected profit for the following year... More »

Sky TV, Vodafone drop $3.44 billion merger plan, withdraw appeal
26 Jun, 9:16am
Sky Network Television and Vodafone New Zealand have terminated their merger agreement which aimed to create the country's largest telecommunications and media group, and have withdrawn an appeal against the Commerce Commission's rejection of the plan... More »

Tower in trading halt as Suncorp's Vero lifts takeover tilt
26 Jun, 8:46am
Vero, which has built up a 19.9 percent stake in its rival, is offering $1.40 a share to take over Tower, valuing it at $236.1 million, up from an earlier price of $1.30 a share, or $219.3 million... More »

NZ dollar edges up; bets on stronger kiwi leave it vulnerable to correction
26 Jun, 8:32am
The New Zealand dollar edged up in New York trading on Friday as data emerged that showed traders have been increasing their bets on a strong kiwi, a situation that may actually leave the currency more vulnerable to a correction... More »

World Week Ahead: Eyes on Yellen
26 Jun, 8:31am
Investors will scrutinise Tuesday’s comments by US Federal Reserve Chair Janet Yellen who’s slated to speak in London about global economic issues to gauge the likelihood of a third US interest rate rise this year. ... More »

Why I am backing Tony Falkenstein for the NZX Board - by Brent King
24 Jun, 11:11am
Mr. Tony Falkenstein is standing for the Board of NZX. The meeting will be held on Friday the 30th of June 2017... More »

MARKET CLOSE: NZ shares fall; Contact, Trustpower give up gains
23 Jun, 5:34pm
The S&P/NZX 50 Index fell 10.05 points, or 0.1 percent, to 7,553.64. Within the index, 22 stocks fell, 19 rose and 9 were unchanged. Turnover was $125 million... More »

NZ dollar steady, markets looking ahead to next week's US data
23 Jun, 5:11pm
The New Zealand dollar was largely unchanged, holding the gains it made when the central bank held rates steady Thursday and - contrary to expectations - was relatively sanguine about the kiwi's strength... More »

Restaurant Brands sales to exceed $700 mln in 2018 as KFC market keeps growing, CEO says
23 Jun, 4:15pm
Restaurant Brands New Zealand, the fast-food retailer, is forecasting sales above $700 million in the 2018 financial year as it reaps gains from its expansion into Australia and Hawaii... More »

NZ construction sector upbeat on infrastructure work, buoyed by govt injection
23 Jun, 3:35pm
New Zealand's construction sector is increasingly upbeat about the growing infrastructure market, which will get a boost from the government's planned $32.5 billion investment over the next four years, helping offset a gloomier buildings market as funding... More »

Vector signs multi-million battery storage deal with Territory Generation in Alice Springs
23 Jun, 1:35pm
Vector beat rivals to supply Australia's Territory Generation with battery storage technology in a multi-million deal for the New Zealand firm... More »

NZ wool prices fall; crossbred fleece hits lowest level in 7 1/2 years
23 Jun, 11:01am
At the latest North Island auction yesterday, 37-micron crossbred fleece wool dropped 25 cents to $3.25 a kilogram from the previous North Island sale a fortnight ago, and was 5 cents lower than last week's South Island sale, according to AgriHQ... More »