Sharemarket News

MARKET CLOSE: NZ shares fall as Meridian faces declining hydro storage
16 Oct, 6:03pm
New Zealand shares fell for a second day with Meridian Energy lower as the power company confronts dry conditions, and exporters Comvita and Fisher & Paykel Healthcare faced a stronger kiwi dollar. ... More »

NZ dollar gains as rising consumer prices deflate chance of rate cut
16 Oct, 5:37pm
The New Zealand dollar gained as traders dial back their expectations for a rate cut after inflation was higher than forecast... More »

Treasury Secretary to sit in on RBNZ monetary policy reviews
16 Oct, 5:31pm
Treasury secretary Gabriel Makhlouf will sit in on the Reserve Bank's monetary policy reviews from this month, pre-empting a legislative change... More »

Cancer test firms Pacific Edge, TruScreen give market some cheer
16 Oct, 5:17pm
Cancer test makers Pacific Edge and TruScreen both gave investors something to cheer about as they made headway in their respective markets... More »

Bridges denies Ross allegations, welcomes police inquiry
16 Oct, 2:49pm
A defiant National Party leader, Simon Bridges, has emphatically denied claims by his dissident former colleague, Jami-Lee Ross, that Bridges was involved in arranging to conceal a $100,000 donation from a Chinese businessman... More »

Second round of Overseas Investment Act review juggles competing tensions
16 Oct, 1:44pm
The government wants to clear a pathway for investment in productive assets while letting the Crown block investments to protect the national interest... More »

Jami-Lee Ross accuses Bridges of corruption, resigns to trigger by-election
16 Oct, 1:25pm
Dissident National Party MP Jami-Lee Ross will resign from Parliament on Friday, triggering a by-election in the safe National electorate seat of Botany in east Auckland... More »

First NZ cuts Michael Hill earnings forecast after weak sales
16 Oct, 1:20pm
First NZ Capital expects to see weaker earnings at Michael Hill International but says there is still potential for the share price to rise... More »

Focus on 'low-hanging fruit' for emissions reduction - Methanex
16 Oct, 1:12pm
New Zealand has a lot of “low-hanging fruit” it can pursue now with known technologies to start reducing greenhouse gas emissions, Methanex New Zealand managing director Dean Richardson says... More »

NZ 3Q inflation higher than expected but driven by one-offs
16 Oct, 12:51pm
Higher-than-expected third-quarter inflation is unlikely to take rate cuts off the table as it was largely driven by higher petrol prices, something the Reserve Bank has said it will look through... More »

Stronger-than-expected inflation could spur a rethink at the RBNZ
16 Oct, 8:43am
The Reserve Bank may have to rethink its rate cut option after higher-than-expected third quarter inflation pushed the annual number to just below the mid-point of its target range... More »

MARKET CLOSE: NZ shares dip as Fletcher gives up pursuit of Steel & Tube
15 Oct, 5:47pm
New Zealand shares dipped, outperforming many Asian markets, as Fletcher Building aborted its pursuit of Steel & Tube Holdings after its increased offer wasn't warmly embraced by the target... More »

NZ primary sector exports seen rising 2.5% to $43.8B in June 2019
15 Oct, 5:41pm
New Zealand’s primary industry export revenue is forecast to reach $43.8 billion for the year to June 2019, an increase of 2.5 percent on the prior year, according to the Ministry for Primary Industries' latest Situation and Outlook report... More »

NZ dollar inches above 65 US cents ahead of 3Q CPI data
15 Oct, 5:11pm
The New Zealand dollar inched back above 65 US cents, sticking to a very tight range ahead of domestic inflation data tomorrow... More »

Salt Funds to open up carbon trading to retail investors in NZX-listed fund
15 Oct, 2:35pm
Salt Funds Management plans to list a dedicated carbon fund, opening up the green commodity directly for retail investors... More »

ComCom wants more transparency about Fonterra's processing capacity
15 Oct, 2:26pm
The Commerce Commission is concerned Fonterra Cooperative Group's plans to mothball processing plants are too opaque... More »

Jenny Shipley says Mainzeal directors in
15 Oct, 1:16pm
Directors of failed construction firm Mainzeal had no reason to question promises from its Chinese parent the company would get the financial support it needed to stay afloat, former Prime Minister Jenny Shipley told the High Court today... More »

Self-regulation of vehicle inspection and licence failed, says NZTA chair Stiassny
15 Oct, 12:13pm
Self-regulation by vehicle inspection and licencing providers has failed, says the chair of the New Zealand Transport Agency, Michael Stiassny, who discovered after his appointment in April that they haven't followed up on evidence of non-compliance... More »

Fletcher quits pursuit of Steel & Tube after failing to win over board
15 Oct, 11:52am
Fletcher Building won't keep chasing Steel & Tube Holdings after failing to win over the board with its latest offer... More »

NZ service sector activity lifts in September but still below long-term average
15 Oct, 11:41am
Activity in New Zealand's services sector, which accounts for about two-thirds of the economy, increased slightly in September but remains below its long-term average... More »