A2 and Fisher & Paykel lead NZX down on China fears

New Zealand shares fell as pessimism over trade negotiations between the US and China cast a pall across Asia. Exporters including A2 Milk and Fisher & Paykel Healthcare led the market lower.

The S&P/NZX 50 index decreased 39.27 points, or 0.4 percent, to 9,245.65. Within the index, 17 stocks fell, 16 rose, and 17 were unchanged. Turnover was $118.6 million, with just five companies trading on volumes of more than a million shares.

Stocks across Asia were weaker, with Hong Kong's Hang Seng down 1.6 percent in afternoon trading, Korea's Kospi 200 down 1.9 percent, and Singapore's ...MORE»

[The Wrap] It's time for industry leaders to step up and support advisers Friday, February 15th, 2:09PM  6 comments Advisers are, unfairly, bearing the brunt of the fallout from recent reports. It's time industry leaders stepped up and articulated to the public, regulators and politicians the value of good advice. MORE»

AMP profit slashed by Aussie scandals Friday, February 15th, 6:00AM AMP’s New Zealand profit might have looked a bit grim – but things were much worse on the other side of the Tasman. MORE»

Six day run of gains ends on sharemarket

New Zealand shares fell, snapping a six-day run of gains, as a stronger kiwi dollar weighed on exporters such as Fisher & Paykel Healthcare and A2 Milk. Skellerup bucked the trend, gaining after it reported increased earnings.

The S&P/NZX 50 index fell 48.46 points, or 0.5 percent, to 9,284.92. Within the index, 24 declined, 23 rose and three were unchanged. Turnover was $132.9 million.

Exporters were largely weaker, with a stronger kiwi dollar weighing on their earnings. The New Zealand dollar climbed back above 68 US cents on a less dovish outlook from the Reserve Bank than some analysts had expected. January trade ...MORE»

AMP puts off listing Thursday, February 14th, 10:30AM AMP is deferring a planned initial public offering (IPO) of its wealth management business until after it has separated off its insurance operations. MORE»

Is FSC taking adviser mantle? Thursday, February 14th, 6:00AM  2 comments Is the Financial Services Council dabbling in a space that should be left to financial adviser associations? MORE»

News Bites

NZX reports profit

NZX has reported profit of $11.6 million for the 2019 financial year, including growth in its wealth businesses. MORE»

GoodReturns TV

[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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Regulators 'may misunderstand' legacy products

Regulatory scrutiny of legacy insurance products may highlight a lack of understanding about how the industry works, one insurer says. MORE»

TMM Online

Insurance report to hurt mortgage advisers: Newpark

The Financial Markets Authority and Reserve Bank's damning review of conduct and culture in the insurance industry will a "clear impact" on mortgage advisers as regulatory scrutiny heats up for advisers, says Newpark Home Loans boss Andrew Scott. MORE»

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Adviser moves to JMI

JMI Wealth, formerly JMIS, has added another senior adviser to its team. MORE»

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AFA offers digital KiwiSaver solution

An authorised financial adviser who has been granted an exemption to offer personalised roboadvice says the process was an involved one. MORE»