NZ shares rise as vaccine trial boosts global sentiment

New Zealand shares rose for a third day as investors welcomed interim results of a covid-19 vaccine trial which showed a positive immune response to the virus.

The S&P/NZX 50 Index rose 116.38 points, or 1 percent, to 11,610.52. Within the index, 34 stocks rose and 16 fell. Turnover was $186.9 million.

The experimental vaccine, developed by biotech company Moderna, safely induced an immune response against covid-19 in all 45 participants, researchers reported in The New England Journal of Medicine. Moderna has now announced that a phase 3 test of the ...MORE»

Core portfolio for just 27 and a half basis points Wednesday, July 15th, 6:00AM  2 comments The NZX-owned Smartshares business has rolled out a suite of ETFs which will give investors a core portfolio with management fees of 27 and a half basis points overall. MORE»

Stimulus trumps rise in infections Tuesday, July 14th, 8:00AM The Harbour Investment Outlook summarises recent market developments; what we are monitoring closely; and our key views on the outlook for fixed interest, credit and equity markets. MORE»

Petition calls for end to 'tax unfairness'

A financial adviser’s petition to have Parliament stop automatically-enrolled KiwiSaver members being taxed at the highest rate by default is in the Finance and Expenditure select committee’s agenda on Tuesday.

Rachelle Bland said it was more than a year since Inland Revenue said it would take action to stop KiwiSaver overtaxing but nothing had yet happened.

It has been estimated that up to 450,000 people were overtaxed because they were being taxed by default at the top PIR when they should have been on a lower rate.

Bland said it was appalling that there had been no action. “It’s such a simple ...MORE»

[OUT NOW] ASSET Magazine: What CoFI means for advisers Monday, July 13th, 8:00AM Here is some weekend reading for you; the latest issue of ASSET Magazine. Find out what's inside it here. MORE»

NZX outperforms ASX in eight of 10 years Sunday, July 12th, 10:37PM  1 comment New Zealand’s market has outperformed Australia's for eight of the past 10 years – primarily because of the make-up of the index, Milford Asset Management portfolio manager William Curtayne says. MORE»

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AMP goes carbon neutral

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GoodReturns TV

[GRTV] Watch out for some market surprises: Gaynor

Milford Asset Management director Brian Gaynor shares his thoughts on the sharemarket and what to expect in the Covid-19 recovery phase. MORE»

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Health insurers would struggle to cover transgender issues: Styles

Health insurers would struggle to provide cover for transgender-specific care, the Finance and Expenditure Select Committee has been told. MORE»

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Heartland eyes relaunch of digital home loan

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Cigna appoints chief risk officer

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Is default status a gravy train?

Michael Lang compares default and non-default KiwiSaver investment options. MORE»