NZX flat as Vital Healthcare announces $200m capital raise
The New Zealand sharemarket closed flat after being weighed down by a capital raising of more than $200 million from Vital Healthcare Property Trust.
The S&P/NZX 50 Index reached an intraday low of 13,523.08 but recovered late afternoon to finish on 13,617.48, down 18.26 points or 0.13%. The property sector declined more than 1%.
Vital Healthcare told the market it had reached a conditional agreement to take back the management rights from Northwest Healthcare Property Trust.
“The internalisation represents the next key step ...MORE»
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Financial stress stabilises while household credit demand picks up
Household stress has started to decline as debt-servicing costs have fallen, the Reserve Bank’s latest Financial Stability Report shows.
Fewer borrowers are now falling behind on debt repayments.
Borrowers who had previously been in default are finding ways to mitigate stress with the lower debt-servicing costs, the RBNZ says.
Longer-term arrears and impairments have stabilised, but have not improved materially yet, although banks expect non-performing loans to continue to drop over the next year, supported by improved borrower cashflows ...MORE»
Lifetime celebrates 10 years with a new scheme under its beltTuesday, November 4th, 8:57AM
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NZ a standout for ethical investment funds flowThursday, October 30th, 9:01AM
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