NZ sharemarket ends week down 1.2%

Blue-chip stocks were back in favour as the New Zealand sharemarket, looking a little undervalued, closed the week with a broad-based rally of nearly 0.5%.

Friday, March 21st, 6:20PM

The S&P/NZX 50 Index had strong momentum in the afternoon and closed at 12,113.54, gaining 58.82 points or 0.49% after reaching an intraday high of 12,188.31.

The index was down 1.25% for the week and has fallen more than 7.6% for the year so far.

Trading was extended for the quarterly rebalance of the NZX and FTSE Russell indices, resulting in 177.5 million share transactions worth $737.54m ...MORE»

Countdown to CoFI: Public awareness campaign set to launch

Friday, March 21st, 11:24AM

The Financial Markets Authority will soon launch an advertising campaign targeting consumers encouraging them to measure their bank, non-bank deposit taker or insurer’s products and services against the criteria set out in their Fair Conduct Programme.

MORE»

Bonds bright spot for active managers in 24

Wednesday, March 19th, 8:12AM

Standard and Poors annual report comparing how active managers have performed against passive ones has some good news for local managers.

MORE»

FMA files charges against former adviser

The Financial Markets Authority (FMA) has filed criminal charges against former financial adviser David McEwen, for failing to comply with a stop order, due to concerns he is still contacting potential investors.

Tuesday, March 18th, 2:34PM

The FMA issued McEwen and a number of entities associated with him a stop order in December 2023 that prohibited him from:

Making offers, issues, sales or other disposals of McEwen and Associates’ financial products,

Distributing any restricted communication that relates to an offer of McEwen and Associates’ financial products,

Accepting further contributions, investments, or deposits ...MORE»

KiwiSaver gender gap widest in middle-age

Tuesday, March 18th, 6:00AM

Balances have climbed after a year of strong market performance but women are still being left well behind as compound interest works its magic on their male counterparts’ larger balances in the lead-up to retirement.

MORE»

[The Wrap] Just when you thought there would be less there's more.

Saturday, March 15th, 10:11AM

About a year ago a senior executive at a life insurance company told me we have too many life insurers in New Zealand and there needed to be more consolidation.

MORE»

More Headlines

News Bites

TA Associates deal to buy Craigs stake clears hurdles

Friday, March 21st, 5:39PM

Craigs Investment Partners shareholder have approved a proposal to sell a 50% share in the company to global private equity firm TA Associates. MORE»

GoodReturns TV

[GRTV] Antipodes portfolio manager discusses emerging markets fund's potential amid volatility

Friday, February 28th, 6:41AM 7 comments

Antipodes Portfolio Manager John Stavliotis discusses the opportunities in emerging markets, their strong growth potential and diversification benefits. MORE»

Harbour Outlook: An inflection point to come for earnings?

Tuesday, March 18th, 5:00AM

The US economy may finally be starting to crack. Business surveys suggest the services sector is now contracting and real-time measures of Q1 GDP suggest the economy is in retreat. Retail sales were unexpectedly weak, and consumer confidence has dropped. The housing market is also showing signs of strain with both housing starts and sales dropping. MORE»

Non-Pharmac-funded drug insurance comes with limits

Wednesday, March 19th, 6:39AM

[UPDATED] Insurance advisers need to understand that most insurers will only cover non-Pharmac-funded cancer drugs if they have been approved by Medsafe and also indicated as treatment for the specific type of cancer their client develops. MORE»

TMM Online