Tiwai Point power deal buoys NZ sharemarket, up 2.68%
A new long-term deal supplying power to the Tiwai Point aluminium smelter boosted the leading energy stocks and drove the New Zealand sharemarket to one of its biggest single-day rises in years.
The S&P/NZX 50 Index climbed steadily all day and closed at 11,867.29, surging 310.08 points or 2.68% and ending a run of five successive falls.
The index had increases of 1.98% on Nov 11, 2022, and 2.05% on Dec 8, 2021. The index was up 0.75% for the week and 0.85% for the year.
There were 89 gainers and 46 decliners on the main board, with 130.49 million shares worth $942.04m changing hands ...MORE»
CoFI change would give FMA power of onsite inspection without warningFriday, May 31st, 6:45AM
The major change the government is considering making to the Financial Markets (Conduct of Institutions) Amendment Act 2022 (CoFI) is to give the Financial Markets Authority (FMA) the right to make onsite inspections without warning. MORE» |
Fixed income head named in assault caseFriday, May 31st, 6:00AM
An Auckland investment and KiwiSaver manager charged with assault following a fracas that left his neighbour with an injured eye, has been named. MORE» |
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Stay safe from cyber attacks
NZFSG emphasises cyber resilience following a recent phishing attack targeting mortgage advisers. MORE »
Out Now: FAP report card
The Financial Markets Authority has released a report on what it's found from its FAP monitoring visits - and there are some surprises in the results.
The regulator has made monitoring visits to around 60 class one and two FAPs from March 2021 to April this year. Some of these visits have been triggered by complaints, some random and others based on themes such as the response to Cyclone Gabrielle.
It plans to kick off monitoring visits of large class three FAPs next quarter.
Overall, the regulator was pleased with what it found.
"We were ...MORE»
Simplicity Living completes new homes, thematic fund ramps exposureWednesday, May 29th, 6:23AM
Simplicity-owned property developer Simplicity Living, has opened its third build-to-rent development in Mt Albert, Auckland, this week. MORE» |
[GRTV] Public aware that ignoring climate change is ignoring investment riskTuesday, May 28th, 6:18AM
Just over five years ago Barry Coates was trying to find products for an ethical investment portfolio and gave up after a week. He says with a master’s degree in finance from Yale University, it should’ve been easy but the data wasn’t comparable and there were no objective measures. MORE» |
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Generate gets on board with Spirit of Adventure
Generate partners with the Spirit of Adventure Trust to help empower more Kiwis get ahead. MORE»
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GoodReturns TV
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[GRTV] A trip around investment issues with MyFiduciary’s Chris Douglas
It’s not just changes to the trustee tax tax rate that’s driving PIE growth, MyFiduciary principal Chris Douglas tells Good Returns TV. MORE»
Air New Zealand – brightness on the horizon?
It is no secret that the airline industry has faced a turbulent time in recent years, with participants halted for long periods during the pandemic, and making large losses. MORE»
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New Partners boss presents his plan to advisers
New Partners Life chief executive Michael Weston reveals his plans for the business. MORE»
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TMM Online
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Basecorp enters commercial market
Basecorp Finance has added a commercial mortgage product to its line up with one of its key funding partners. MORE»
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Generate adds new board member
Former FMA board member joins Generate board. MORE»
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No shift on KiwiSaver balance gender gap
New KiwiSaver analysis for 2023 shows the 25% gap between men and women’s balances did not improve over the year. MORE»
