NZ sharemarket ends short week up 0.4%
Manawa Energy plunged more than 8% on uncertainty about whether its merger with Contact will be approved, while the New Zealand sharemarket ended the shortened week with a healthy gain.
The S&P/NZX 50 Index fell as low as 12,806.78 in the morning but recovered strongly to close at 12,902.19, up 57.6 points or 0.45%. The index was down 0.7% for the week and has fallen 1.6% for the year to date.
Trading was solid the day after the Waitangi public holiday, with 31.93 million shares worth $130.92m changing hands.
Decreased chances
Manawa was down 48c or 8.44% to $5.21, and Contact ...MORE»
Early days, but NZ Super's machine-learning fund outperformsFriday, February 7th, 9:55AM
The New Zealand Superannuation Fund’s new machine-learning portfolio of New Zealand shares has exceeded expectations and managed to outperform its internally and actively managed NZ equities portfolio. MORE» |
KiwiSaver market share leader ANZ at bottom of performance tableThursday, February 6th, 9:08AM
The latest Morningstar KiwiSaver report shows the largest provider, ANZ with $22 billion under management, continues to be outperformed by most other providers in the core diversified fund categories. MORE» |
Sponsored Content
Xceda adds another string to its bow
Reserve Bank licensed deposit taker Xceda is starting to broaden out its loan products offering. MORE »
New Zealand Equity Monthly October 2024
Start of rate-cutting cycle provides promising signs for New Zealand equities MORE »
Retirement savings targets could be overblown
Retirees’ spending tends to slow as they age which should challenge some assumptions about the need for an intimidatingly-large sized pot of retirement savings, according to the New Zealand Society of Actuaries.
Retirees’ spending tends to slow as they age which should challenge some assumptions about the need for an intimidatingly-large sized pot of retirement savings, according to the New Zealand Society of Actuaries.
“We've looked at the numbers and said it looks like typically, a New Zealand household would reduce their spending in retirement by around 2% a year in real terms,” says ...MORE»
Non-banks still need to prove their worth despite govt backingWednesday, February 5th, 5:56AM
Non-bank deposit takers both new and old will have to compete for the attention of advisors even with the backing of the government’s incoming insurance scheme for deposits. MORE» |
Luxon sacks FEC chair Stuart Smith without explanationSunday, February 2nd, 6:57PM
The chair of parliament's finance and expenditure committee (FEC) changed last week without any formal announcement or explanation, casting doubt on whether the government's intentions to make meaningful changes to the banking sector. MORE» |
News Bites
|
TAPping into AI
The Adviser Platform (TAP) has launched an AI-powered tool to help financial advisers save time preparing client advice. MORE»
GoodReturns TV
|
[GRTV] Stronger and more unified voice needed to force KiwiSaver changes
The Retirement Commissioner Jane Wrightson talks to Philip Macalister about changes she would like to see made to KiwiSaver. MORE»
Harbour Outlook: So much for the Christmas rally
December saw mixed market movements influenced by currency shifts, central bank actions, and economic trends, shaping the investment outlook for the months ahead. MORE»
![]() |
Sponsored by: |
|
Resolution Life completes Asteron purchase
Resolution Life has finalised its $410 million acquisition of Asteron Life New Zealand from Suncorp Group, making it one of the largest players in New Zealand's life insurance sector. MORE»
TMM Online
|
Next big issue for mortgage advisers
The question hovering on mortgage advisers’ lips is when they should start pointing clients to longer fixed interest terms on their mortgages. MORE»
![]() |
Sponsored by: |
|
Aurora Capital gets two fishers
Aurora Capital, the country’s fastest-growing KiwiSaver provider, has a new leadership team which includes two former Fisher Funds staffers. MORE»
![]() |
Sponsored by: |
|
KiwiSaver market share leader ANZ at bottom of performance table
The latest Morningstar KiwiSaver report shows the largest provider, ANZ with $22 billion under management, continues to be outperformed by most other providers in the core diversified fund categories. MORE»