Takeover for Millennium and Copthorne; Otherwise quiet on NZX

A takeover offer for Millennium and Copthorne Hotels NZ brightened an otherwise quiet day on the New Zealand sharemarket that started the week with a 0.3% decline.

After falling at the opening, the S&P/NZX 50 Index traded steadily and closed at 13,088.31, down 42.12 points or 0.32%.

Volumes were light, with 16.72 million share transactions worth $59.62m.

'Mix of inflation'

Asian markets were strong following better-than-expected gross domestic product growth in China during the fourth quarter of last year.

The economy grew 5.4% on the back of ...MORE»

Open finance momentum expected to gather pace in 2025 Monday, January 20th, 9:20AM New regulations dictating how open finance works for the banking sector could be in place by the end of the year with advisers encouraged to start thinking about how developments could change the way they do business. MORE»

Westpac's BT lifts annual net profit 10.8% Monday, January 20th, 9:13AM BT Funds Management (NZ), Westpac's investment arm in New Zealand, has reported a 10.8% rise in annual net profit for the year ended Sept 30, 2024. MORE»

Economists split on RBNZ OCR cut: How much will the Reserve Bank lower rates in February?

Debate among economists is starting to emerge on how much the RBNZ will cut the OCR at its next review on 19 February.

Debate among economists is starting to emerge on how much the RBNZ will cut the OCR at its next review on 19 February.

The major banks’ economists are mainly picking 0.50%. This is the number the RBNZ predicted it will cut by at its last meeting last year, but former BNZ economist Tony Alexander says it could now be as little as 0.25%.

He bases this projection on two issues – underlying ...MORE»

Retail investors seeking US exposure as confidence returns Thursday, January 16th, 9:08AM Sharesies’ latest data shows a return in retail investor confidence in the final months of 2024 with investors continuing to look for US exposure via ETF. MORE»

New non-bank deposit taker to court advisor networks Tuesday, January 14th, 1:36PM The first company to be granted a non-bank deposit taker license by the Reserve Bank in nearly a decade says it will look to build strategic partnerships with advisor networks as it develops the lending side of its business. MORE»

News Bites

New Partnership to Upskill New Zealand’s Financial Capability Workforce

A new partnership between Massey University’s Financial Education and Research Centre (Fin-Ed Centre) and the Booster Foundation aims to address gaps in New Zealand’s financial advice sector. 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»

Devon Funds 2025 Predictions

While a new year is already underway, it is early days. This makes it still a timely point to wheel out the crystal ball and engage in the well-established tradition of making big-picture predictions on developments and factors that will shape markets and investment portfolios in the year ahead. MORE»

Sponsored by:

New life insurance company coming

A new life insurance company is planning to launch later this year and has already made some senior hires. MORE»

TMM Online

Open finance momentum expected to gather pace in 2025

New regulations dictating how open finance works for the banking sector could be in place by the end of the year with advisers encouraged to start thinking about how developments could change the way they do business. MORE»

Sponsored by:

Chubb Life appoints chief actuary

Harvard Business School alumnus and President of New Zealand Society of Actuaries joins Chubb Life New Zealand. MORE»

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Appeal of one-stop shop helps drive Sharesies’ KiwiSaver growth

Sharesies is a recent arrival on the KiwiSaver scene but says it’s finding favour with customers who access all their investments in one place. MORE»