Sharemarket News

MARKET CLOSE: NZ shares slip; Warehouse down after result, PGC gains
12 Mar, 6:15pm
New Zealand shares fell, as Warehouse Group posted weaker first-half operating earnings and forecast a flat full year. Pyne Gould Corp. advanced after its Marac unit gained admissions to the extended guarantee scheme... More »

Strategic Finance in receivership
12 Mar, 6:00pm
Strategic Finance is this evening in the hands of receivers PricewaterhouseCoopers, ending moratorium arrangements that have been in place since December 2008... More »

Sumitomo moves to take 20% of Nufarm, gaining Australasian farm chemicals
12 Mar, 5:50pm
Nufarm, the Australian-headquartered worldwide manufacturer of farm chemicals, has received a formal shareholders’ offer from Japan’s Sumitomo to acquire up to 20% of its shares at A$14 each... More »

NZ food innovation initiative aims to fast-track new product commercialisation
12 Mar, 3:10pm
Small and medium-sized food and beverage companies will have access to state of the art research and development facilities with a new government initiative, Food Innovation Network New Zealand... More »

Weekly Diary for Monday 15th March 2010
12 Mar, 2:09pm
A summary of dividend dates, company meetings, and other important information on NZX listed companies... More »

Accommodation providers experience best month ever in January
12 Mar, 1:30pm
More Kiwis holidaying at home and more tourists staying longer has boosted January’s short-term commercial accommodation total guest nights by 4% compared to the previous January... More »

NZ retail sales rose in January, led by vehicles; core sales weaker than forecast
12 Mar, 12:20pm
New Zealand retail sales rose more than expected in January, though the headline figure was driven by an increase in vehicle-related industries and core retail grew less than forecast... More »

Pyne Gould's MARAC gains admission to government's extended Retail Deposit Guarantee Scheme:
12 Mar, 11:40am
MARAC Finance, the arm of Pyne Gould Corp. with ambitions to become a bank, has been accepted under the government’s extended Retail Deposit Guarantee Scheme through to the end of December 2011... More »

Steam still coming out of house sales: REINZ
12 Mar, 11:20am
Total residential house sales rose sharply in February, compared with a 10 year low-point in January, but seasonally adjusted prices fell and it is taking longer to sell homes as tax-shy investors stay out of the market... More »

Perpetual Portfolio Management adds to its team
12 Mar, 11:14am
Tracey-Lee Pettifer has joined Perpetual Portfolio Management (PPM) in the role of Head of Adviser Services. Pettifer was previously with AMP running the investment product team and before then ran the adviser support team with ASB... More »

Warehouse first half profit gains on year-earlier costs
12 Mar, 10:50am
Warehouse Group posted a 17% gain in first-half profit, reflecting year-earlier costs to close stores while operating earnings weakened... More »

NZ dollar, little changed, could push higher on strong retail sales figures
12 Mar, 10:40am
New Zealand’s dollar, hovering around 70 US cents, may rise if January retail sales figures prove stronger than market pundits are expecting.  ... More »

Warehouse seeks $100 million in tradeable bond offer
12 Mar, 10:15am
The Warehouse Group has confirmed it is seeking up to $100 million in five year unsecured, unsubordinated fixed rate bonds, to be listed on the NZDX... More »

Two new board members for Meat and Wool NZ
12 Mar, 9:00am
Two directors Kirsten Bryant and Anne Munro have been elected to the Meat and Wool New Zealand board, displacing men already involved in the industry's power structures... More »

Stocks to watch: Contact, TrustPower, Infratil, PGC, IMP, TLS
12 Mar, 8:50am
Brokers believe that the worst might be behind Contact Energy and  Pyne Gould's, MARAC Finance, has been granted an extension under the deposit guarantee scheme.  Trustpower sees one more year of intense retail electricity competition ahead and... More »

While you were sleeping: Inflation fears take toll
12 Mar, 7:30am
A spike in inflation in China took its toll on investors in both Europe and the US, leading equities lower as demand for raw materials was put under review... More »

NZX CLOSE: Shares mixed after MPS, kiwi falls; RBD up, GFF down
11 Mar, 6:20pm
Shares were mixed after the central bank kept its benchmark interest rate at a record low, helping push down the kiwi dollar. Fast-food franchise company Restaurant Brands gained and foodmaker Goodman Fielder declined... More »

Business A-listers test waters for super-fast Pacific cable venture
11 Mar, 4:40pm
A group of well-known New Zealand businessmen are sounding out appetite for a new internet fibre cable venture to link with Australia and the western United States seaboard... More »

New Zealand manufacturing warms up as recession-effects ease
11 Mar, 3:20pm
New Zealand manufacturing continued its slow but steady increase in output in February, with increased production and employment underpinning expansion... More »

Hoki-1 nears half-way mark at 1505 metres
11 Mar, 1:20pm
Drilling of the wildcat Hoki-1 well by AWE has reached a depth of 1505 metres as it targets a total depth of approximately 3570 metres. ... More »