NZ shares gain as upcoming Fed meeting bolsters yield stocks; Sky TV gains
New Zealand shares gained on expectations the US Federal Reserve may soften its interest rate outlook for the coming year. Sky Network Television extended its rebound.
The S&P/NZX 50 index rose 73.82 points, or 0.9 percent, to 8,762.19. Within the index, 32 stocks gained, 10 fell and eight were unchanged. Turnover was $148.4 million.
The local market outperformed Asia, where Australia's S&P/ASX 200 index was down 0.3 percent in afternoon trading, Singapore's Straits Times index rose 0.4 percent and Hong Kong's Hang Seng edged up 0.1 percent. ...MORE»
MBIE estimates 1733 single-adviser firms in new regimeWednesday, December 19th, 6:00AM
The Ministry of Business, Innovation and Employment (MBIE) has laid out the number of financial advisers it thinks will continue on to hold licenses under the new financial advice regime. MORE» |
Bank AFA force broadly steadyTuesday, December 18th, 6:00AM
New Zealand banks are bucking international trends by holding on to their advice forces. MORE» |
Morningstar committed to New Zealand
Morningstar director of manager research, Asia-Pacific, Tim Murphy says it is still committed to the New Zealand market, despite no longer having researchers on the ground here.
Its New Zealand-based director of research ratings, Asia-Pacific, Chris Douglas announced in July that he was moving on from the role. Only data director Greg Bunkall is left in New Zealand.
Murphy said although Douglas was well-known in the New Zealand industry, only less than 10 per cent of his job had been focused on the local market.
“He was only there because of his personal circumstances ...MORE»
[The Wrap] What it it will cost you to be licensed revealedSaturday, December 15th, 2:07PM
It's not unusual that something big drops right on Christmas, and it's happened again this year. MBIE have released a discussion document which goes a long way to answering one of the biggest questions about impeding regulation. How much it will cost. MORE» |
How much you will have to pay to be an adviser revealedFriday, December 14th, 6:00AM 7 comments
The big question advisers are asking is how much it will cost to be licensed under the new regime. Good Returns can now reveal what advisers are likely to pay. MORE» |
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News Bites
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Record profit for UDC
UDC Finance has posted a record net profit after-tax of $65.3 million for the year to September 30, a 6% increase on the prior financial year. MORE»
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GoodReturns TV
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[GRTV] Great advice from the best
In our second show from the Financial Advice NZ conference Good Returns talks with popular keynote speakers Don Connelly and Michael Harrison. MORE»
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Not acceptable that ACC doesn't cover illness: OECD
New Zealand's ACC scheme should be extended to cover illness, the OECD has said in a new report. MORE»
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TMM Online
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NZ credit unions to merge
Five of the biggest New Zealand credit unions, including NZCU Baywide, are to merge under a single brand as they aim to become a stronger competitor to mainstream banks. MORE»
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Milford boss departs
Milford Asset Management's chief executive is leaving the firm. MORE»
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Govt moves to allow early KiwiSaver withdrawal
Government is exploring its options to allow people with life-shortening conditions to access their KiwiSaver money earlier. MORE»
