Sharemarket News

NZ dollar pares loss after upbeat US jobs report fuels bets on Fed action, weak Chinese trade numbers
10 Mar, 5:10pm
The New Zealand dollar pared its loss after stronger-than-expected US labour data stoked optimism about the recovery of the US economy, which would let the Federal Reserve continue to trim its asset purchase programme, and as Chinese trade figures disappo... More »

SNAP NZ election to be held on Sept. 20, PM Key says
10 Mar, 4:20pm
New Zealand's general election will be held on Sept. 20 with the incumbent National-led administration seeking a third term in office... More »

Seeka to sell 20 percent stake in Opotiki Packing back to company for $3.2 million
10 Mar, 3:10pm
Seeka Kiwifruit Industries, the fruit grower and coolstore and packhouse operator, has agreed to sell back its 20 percent stake in Opotiki Packing and Cool Storage as part of its response to the PSA outbreak that devastated the industry... More »

Offshore iron ore mining worth $150M a year to NZ industry, miner claims
10 Mar, 12:50pm
The biggest single impact from proposals to mine ironsands offshore from the southern Taranaki coast will be some $150 million a year spent on jobs and maintenance, both onshore and offshore, to service the operation, the first day of hearings on the appl... More »

NZ manufacturing sales volumes rise 5.7 percent, driven by dairy, meat production
10 Mar, 12:35pm
New Zealand manufacturing sales volumes rose in the fourth quarter last year, driven by dairy and meat and adding to evidence of strong, export-led demand for the nation's soft commodities... More »

NZ Dollar Outlook Kiwi may gain as interest rates move higher
10 Mar, 12:30pm
The New Zealand dollar may rise in volatile trading this week as investors are lured by better yields ahead of an expected hike in interest rates by the Reserve Bank and the prospect of further increases... More »

Fulton Hogan more than doubles 1H pretax profit, eyes growth after Shell exit
10 Mar, 12:15pm
Fulton Hogan, the privately held construction firm, more than doubled first-half pretax earnings with its five business units all running ahead of budget, and plans to ramp up growth once the Shell Group share buyback is completed... More »

AsureQuality taps Hansells John McKay as CEO
10 Mar, 11:50am
AsureQuality, the state-owned food testing company formed by the 2007 merger of Asure New Zealand and AgriQuality, named Hansells Food Group chief executive John McKay as its new CEO... More »

Wellington Drive seeks $5 mln from shareholders in convertible note offer
10 Mar, 9:25am
Wellington Drive Technologies, whose annual accounts were tagged by auditor PwC over forecast cash flows, will raise $5 million selling mandatory convertible notes to shareholders to help fund growth aspirations... More »

NZ dollar falls after US employment prints better than expected, bolstering greenback
10 Mar, 8:45am
The New Zealand dollar weakened after a key measure of US employment posted stronger-than-forecast gains, reinforcing expectations the Federal Reserve will continue to taper its stimulus programme and boosting the greenback... More »

NZ Reserve Bank set to begin tightening cycle with first OCR hike since July 2010
10 Mar, 8:10am
The Reserve Bank is expected this week to act on its concerns that inflation will accelerate as the economy gains momentum by lifting its benchmark interest rate for the first time since July 2010... More »

World Week Ahead Dark clouds over China
10 Mar, 7:55am
The Standard & Poor's 500 Index starts the week at a record as investors breathed a sigh of relief when the latest US jobs data finally provided evidence of an ongoing recovery in the world's largest economy but clouds are darkening over China... More »

Fonterra lifts forecast for this season’s local milk supply
7 Mar, 2:55pm
Fonterra Cooperative Group, the world's biggest dairy exporter, anticipates bigger growth in milk supply this season with dry conditions not as bad as last year's drought, and the incentive of a higher forecast farmgate pay-out... More »

Warehouse worst performer on NZX 50 Index after trading resumes following share sale
7 Mar, 11:30am
Warehouse Group is the worst performer on New Zealand's benchmark NZX 50 Index today after the shares resumed trading following a discounted stock offering to raise money for the retailer's expansion into financial services... More »

Ron Brierley renews interest in Allied Farmers, buying 2.87 percent stake
7 Mar, 9:55am  1 comment
Ron Brierley has acquired 2.87 percent of Allied Farmers, which is recovering from its disastrous takeover of the Hanover and United Finance loan books, making him the fifth largest investor in the Hawera-based company... More »

Warehouse raises $100 mln from institutions for financial services expansion
7 Mar, 8:55am
Warehouse Group, the country's biggest listed retailer, successfully raised $100 million from institutional investors to help fund its drive into financial services... More »

NZ dollar surges to 6-year high vs. yen as investors favour buoyant local economy
7 Mar, 8:55am
The New Zealand dollar surged to a six-year high against the yen as investors favoured higher yielding risk sensitive assets... More »

While you were sleeping Solid US jobless claims
7 Mar, 8:15am
Wall Street climbed, pushing the Standard & Poor's 500 Index to a fresh record high, after better-than-expected US jobs data bolstered optimism about the pace of recovery in the world's largest economy... More »

NZ dollar falls vs. A$ after strong Australian trade, retail figures
6 Mar, 5:10pm
The New Zealand dollar fell against its trans-Tasman counterpart after stronger than expected Australian trade and retail data sapped enthusiasm for the nation's central bank to cut interest rates... More »

NZ doesn't face US-style property bubble though price growth eyed, says S and P
6 Mar, 4:30pm
New Zealand's housing market is unlikely to mutate into a US-style bubble, says Standard & Poor's, although rising prices are at the upper level of the credit rating agency's tolerance, it told a briefing in Auckland today... More »