Sharemarket News

MARKET CLOSE: NZ shares fall: A2 downgraded on eve of earnings, Heartland misses expectations
19 Feb, 6:01pm
New Zealand shares fell, with A2 Milk weaker after an analyst dubbed it overvalued and as weak Chinese sales by Australian supplements maker Blackmores weighed on the dairy company. Heartland Group declined on weaker-than-expected earnings... More »

NZ dollar falls after second fruit fly discovered
19 Feb, 5:26pm
An already weak New Zealand dollar fell further on the news that a second fruit fly has been found in Auckland. It is of a different species to the adult male Queensland fly caught last week... More »

Wrightson warns weak wool demand, slow spring listings weigh on earnings
19 Feb, 3:46pm
PGG Wrightson has lowered expectations for its continuing operations even further, saying weak international demand for wool and a slow start to spring farm listings weighed on earnings... More »

OMV eyes Asia's growing gas demand
19 Feb, 3:14pm
Multi-national OMV is reorganising its regional activities to better meet increasing energy demand in South-East Asia, which may spin out an export opportunity for New Zealand... More »

Heartland's 1H profit dampened by restructuring, accounting changes
19 Feb, 1:29pm
Heartland Group lifted first-half profit 6.5 percent with growth from its Australian reverse mortgage unit, business lending and its Open-for-Business digital lending platform particularly strong... More »

Hallenstein seeks new CEO; shares fall
19 Feb, 12:55pm
Clothing retailer Hallenstein Glasson Holdings is seeking a group chief executive for the second time in two years... More »

Tower affirms earnings guidance, notes increased digital upgrade cost
19 Feb, 10:50am
Tower has affirmed its annual earnings guidance, with gains in gross written premium and a lower claims ratio offset by a bigger bill for an extended and more staggered roll-out of its new digital platform... More »

NZME targets positive earnings from paywall in 2 years; profit falls
19 Feb, 10:11am
NZME will start charging online audiences for premium content in the June quarter this year, but doesn't expect to start generating earnings for another two years... More »

Precinct raising $150M from an underwritten placement and retail offer
19 Feb, 10:00am
Precinct Properties New Zealand is raising $150 million with only $20 million available to retail shareholders and has paid for underwriting of both it and the $130 million placement to institutional investors... More »

NZ dollar dips from 13-day high as US holiday keeps markets quiet
19 Feb, 8:49am
The New Zealand dollar slipped from a 13-day high after failing to break above 69 US cents. Trading is relatively muted with US markets closed for the Presidents' Day holiday... More »

NZ dollar rises on optimism for China-US trade deal
18 Feb, 5:15pm
The New Zealand dollar rose against all other currencies amid growing optimism the United States and China will settle their trade differences... More »

Steel & Tube recovery to include $5.6M of 2nd-half cost savings
18 Feb, 4:14pm
Anybody wondering where Steel & Tube Holdings’ cost savings are coming from need look no further than the site rationalisation project currently underway... More »

Open Country challenges validity of Fonterra's 2018 milk price
18 Feb, 3:14pm
Open Country Dairy is seeking a judicial review of the way Fonterra Cooperative Group set its milk price in the 2018 season, despite the Commerce Commission giving the price-setting process a pass mark... More »

Guest night growth slows; overseas visitors spent less time in North Island
18 Feb, 2:43pm
Growth in tourist accommodation slowed in December as international guests spent fewer nights in the North Island, according to Stats NZ... More »

Nib NZ first-half earnings slide 30% as claims outpace policy growth
18 Feb, 1:58pm
Nib New Zealand posted a 30 percent slide in first-half profit as the local arm of the Australian health insurer's claims bill rose at a faster pace than it could win new policyholders... More »

Customer satisfaction in NZ banks rises despite Australian scandals
18 Feb, 1:26pm
The scandals exposed by Australia’s royal commission into financial services don’t appear to have dented New Zealanders’ trust in banks... More »

Perky services sector in Janary soothes fears over cooling economy
18 Feb, 1:06pm
Activity in New Zealand's services sector picked up in January, with strong sales and new orders helping to allay fears that the economy may be poised for a downturn this year... More »

PFI doubles 2018 profit on valuation gains, underlying earnings fall short
18 Feb, 11:09am
Property For Industry more than doubled its calendar 2018 profit as its 94-property portfolio was revalued higher. However, a slightly lower occupancy rate and rising property costs dented underlying earnings, which missed expectations... More »

Steel & Tube turnaround continues with 49% jump in first-half net profit
18 Feb, 10:41am
Steel & Tube Holdings believes it is on the road to recovery, reporting a 48.7 percent jump in first-half net profit and delivering operating profit in line with previous guidance... More »

FIRST CUT: Port of Tauranga lifts 1H profit 4%
18 Feb, 9:00am
Port of Tauranga increased first-half net profit 4 percent, buoyed by ongoing container growth and increased log and fruit volumes... More »