NZ sharemarket dragged down by THL, Spark
Tourism Holdings plunged 36%, and Spark fell nearly 5% on significant earnings downgrades that rattled the New Zealand sharemarket.
The S&P/NZX 50 Index fell sharply after the early-morning announcements and never recovered, closing at 11,820.78 – down 117.3 points or 0.98%.
There were 95 decliners and 47 gainers over the whole market on strong volumes of 47.27 million share transactions worth $140.04m.
Spark was down 23c or 4.87% to $4.49 on trade worth $14.26m after reducing its full-year operating earnings (Ebitdai) ...MORE»
ANZ exits wholesale funds managementFriday, May 3rd, 10:06AM
ANZ Investments to exit Wholesale business and focus on better outcomes for everyday Kiwi investors MORE» |
Stewardship reporting steps up in first year of codeFriday, May 3rd, 6:49AM
In the first year of New Zealand’s Stewardship Code, most of the signatory investment managers released some form of stewardship reporting, a 2023 review shows. MORE» |
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Veteran financial adviser offers new coaching service for financial advisers
There’s a saying that old dogs never die - they simply fade away. Long-time financial adviser David Pine from Wellington has finally put away his insurance tools but doesn’t intend to fade away just yet. MORE »
RBNZ says there's a moral hazard risk with deposit guarantee
There's a “moral hazard risk” the the deposit guarantee scheme could lead some people to chase the higher interest rates offered by non-banks, Reserve Bank governor Adrian Orr told journalists.
You're right. There is a moral hazard when you provide a blanket guarantee,” Orr said in answer to a question.
That's one of the reasons why New Zealand “has been one of the last countries on this earth” to institute such a guarantee.
The scheme is currently scheduled to take effect from mid-2025 and the RBNZ is still consulting on how it will apply proportionality and what ...MORE»
RIAA launches investor guide on AI and human rightsWednesday, May 1st, 6:48AM
Potential harm to people, reputational and operational risk to companies, regulatory and financial risk - all reasons why investors should care about AI and human rights. MORE» |
Building active portfolios, building conviction levelsTuesday, April 30th, 6:01AM
Octagon looks to enhance the returns for our customers by being an active manager in the markets we invest in. This means, by definition and style, we are not passive investors who simply buy the index or the sector, rather we apply a disciplined process that allows the Octagon portfolio managers to identify when and why an asset is mispriced, and take advantage for our clients. MORE» |
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Generate gets on board with Spirit of Adventure
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[GRTV] A trip around investment issues with MyFiduciary’s Chris Douglas
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Don’t let perfect be the enemy of good
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Overhaul of insurance regulations starts
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Westpac NZ added $1.44b of mortgages in the six months ended March
Westpac New Zealand's mortgages surged in the latest six months by $1.44 billion to $66.96 billion compared with growth of just $333 million in the six months ended September, the bank's latest disclosure statement shows. MORE»
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Financial Advice NZ appoints new Head of Professional Development
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Best and worst KiwiSavers according to Consumer
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