The S&P/NZX 50 Index gained 10.88 points, or 0.2 percent, to 7,398.83.
Read the original here: MARKET CLOSE: NZ shares rise, led by Warehouse, Ryman while Orion, Chorus keep falling
from
http://lydiamarshall92.tumblr.com/post/149742144573
The S&P/NZX 50 Index gained 10.88 points, or 0.2 percent, to 7,398.83.
Zespri chief executive Lain Jager has cut the forecast corporate profit range for the year ending March 31, 2017.
The kiwi traded at 72.51 US cents as at 5pm in Wellington.
The company is paying 1.55 percent above the ten-year swap rate.
Comvita emerged on SeaDragon’s register with a 13.06 percent stake after agreeing to facilitate the completion of the company’s 3-for-5 renounceable rights offer last September.
The US Federal Aviation Authority will use New Zealand technology to pre-screen potential air traffic controllers, With special feature audio.
Seeka was on the lookout for other potential value-added assets it could acquire.
The Shareholders’ Association says the board needs to be held to account for ‘appalling’ shareholder losses.
But the cooperative’s chairman says the strong kiwi dollar continues to be a challenge.
Dow drops 49 points in wake of EU tax ruling on Apple. With special feature audio.
Accounts, filed a day late, show $3 million loss.
Timed for September 16.
The survey shows 80% of all farmers and 78% of dairy farmers were “very satisfied” or “satisfied” with their banks.
Veritas reveals negotiations are under way with ANZ Bank.
The Wellington-based company reported net profit of $23.2 million in the year to June 30.
Financials make most gains as the Dow rises 108 points.
UPDATED: The offer from Brooklyn-headquartered Blue Wolf Capital is at the low end of the valuation range.
Sales in the North American region rose by 119%.
The kiwi traded at 72.54USc at 8am in Wellington. With special feature audio.
But analysts warn the current rate of growth is not sustainable. With special feature audio.
More detail on the offer is expected this Wednesday. With special feature audio.
Net profit fell to $3.5 million in the six months ended June 30.
The master negotiator resigns after a mixed year. With special feature audio.
Revenue for the year ending June 30 increased by 15 percent to $166 million.
$91 million profit; Ratcliffe steps down.
Maybe it’s denial or maybe it’s just politics but the government-owned Kiwibank’s CEO, Paul Brock, says Kiwibank is growing its market share in the mortgage market when the numbers say otherwise. With special feature audio.
The kiwi traded at 72.26USc at 8 am in Wellington from 73.26USc in New York on Friday.
There’s the ADP employment report on Wednesday. With special feature audio.
An earthquake measuring 6.2 rocked central Italy in the early hours of Aug. 24, leaving more than 200 dead and hundreds missing in the rubble of the disasters.
Business journalist Rod Oram examines what fundamental changes need to be made – and how – if “ten billion people are going to live well on this planet in 2050.”
The S&P/NZX 50 Index declined 35.98, or 0.5 percent, to 7391.3.
The kiwi traded at 73.10 US cents as at 5pm in Wellington.
Profit was $3.1 million in the year ended June 30.
Revenue for the year fell 3.7 percent to $694 million.
The business travel news wrap also includes the world’s longest budget flights. With special feature audio.
Trustpower’s split into a largely New Zealand-based utility and a largely Australia-based windfarm developer is certain to cost shareholders up to $90 million.
Passenger numbers increased by about 8% to nine million over the year.
Top result from the airline, but how does its CEO expect to deal with increasing competitive pressures?
Net profit rose to $7.1 million, or 43c per share, in the six months ended June 30.
The Kiwibank group saw profit fall 0.8 percent to $131 million in the latest financial year.
The energy sector has to get out of the mentality of economic theory, says CEO.
Milk prices have started to improve as global demand and supply continues to rebalance. With special feature audio.
Countdown's ebit flat for the full year.
The listed shower manufacturer continues growth after reversing declines. With special feature audio.
The equity crowdfunded winemaker holds its first annual shareholder meeting.
The global sheep milk market has been estimated at $US8 billion at the farmgate.
Infratil is looking outside of traditional areas in its search for new investments. With special feature audio.
UPDATED: The company profit was $8.6 million. With special feature audio.
The company posted a $162,000 loss for the year to June 30.
Profit rose to $127 million, or 84c a share, in the 12 months ended June 30.
Meridian declared a 5% increase in earnings before interest, tax, depreciation, amortisation, and changes in the value of financial instruments at $560 million for the year to June 30.
Underlying earnings rose 26 percent to $66.1 million in the 12 months ended June 30.
Profit was $30.4 million in the 12 months ended June 30.
Earnings before interest, tax, depreciation, amortisation and movements in the value of financial instruments declined by $9.5 million to $335.3 million in the year to June 30.
The focus moves from earnings to Federal Reserve chairwoman Janet Yellen’s speech on Friday.
Full year revenue guidance cut to $27-30 million.
The 2020 Tokyo Games will be a high-tech economic bonanza aimed at doubling tourist numbers in the long term. With special feature audio.
The kiwi slipped to 72.91USc from 73.16USc yesterday.
Tourism Holdings chief executive Grant Webster is promising his company won’t be resting on its laurels after lifting annual net profit 21%. With special feature audio.
The S&P/NZX index increased 5.17 points, or 0.1%, to 7467.33.
The S&P/NZX 50 Index gained 56.91 points, or 0.8 percent, to 7,462.16.
Frontier Group Partners, a consortium including Envirocomp founder Karen Ashby, bought the local firm for an undisclosed sum.
The deal is disclosed in a notice to the Hong Kong stock exchange.
The kiwi declined to 72.16 US cents at 5pm in Wellington.
Two US airlines have made a big impact in their first full month of operations.
Imagine a time when epidemics of non-communicable diseases like diabetes are treated by eating special foods that are registered as medicines. With special feature audio.
New Zealand’s biggest bank has unveiled a rosy outlook for the economy following last week’s GDT. With special feature audio.
Underlying operating profit in New Zealand jumped to $A17.3 million in the year ended June 30.
The average wharf gate price for New Zealand A-grade logs dropped to $110 a tonne in August.
Earnings before interest, tax, depreciation and amortisation from Bluescope’s two Auckland units, NZ Steel and Pacific Steel, came in at zero in the year ended June 30.
Distraction is one of the great political arts. With special feature audio.
NZ’s relatively high yields continue to attract investors in search of decent returns in a world where major central banks are running near-zero interest rate policies.
New Zealand shares rose, led by Tegel Group on prospects for growth in Australia while Port of Tauranga dropped following broker downgrades.
But it has secured significant contracts since balance date, senior executives say.
The acting chief executive opens up about the benefit of hindsight in settling the messy IRD tax dispute. With special feature audio.
$140 million capital return it has flagged but growth opportunities can be pursued
The European summer holiday period kept some wool buyers out of the New Zealand market this week, denting demand for fine crossbred wool.
The price for 35-micron wool fell to $5.50 a kilogram at yesterday’s South Island wool auction from $5.55/kg when it was last traded at the previous South Island auction two weeks ago, according to AgriHQ.
AMP Financial Services says inflows of KiwiSaver funds slowed in the first half of 2016
No point ‘nickel and dime-ing’ to get the necessary skills, says chairman
In NBR Print today.
But that just illustrates how difficult it is to make informed decisions about KiwiSaver, the Greens’ Julie Anne Genter says.
The food and beverage investor was late in filing its annual results.
With special feature audio.
Coming off a tough year in which dairy and oil prices and the strong New Zealand all conspired against the company, Skellerup’s chief executive, David Mair, is nevertheless upbeat about his company’s prospects.
NBR poll participants weigh in over this week’s war of words between Gerry Brownlee and Otago University’s Andrew Geddis.
Infratil shares fell 0.6% to $3.38.
But only one can represent New Zealand in Monaco next year.
Minutes of the Federal Reserve’s last policy review showed little appetite for a rate hike in the near-term.
Wall Street was mixed, trading near record highs.
New Zealand shares rose on Fletcher Building’s positive annual earnings and outlook while NZX dropped after posting first-half results that included costs of its legal battle with Ralec.
The S&P/NZX 50 Index gained 44.34 points, or 0.6%, to 7355.01. Within the index, 27 stocks rose, 13 fell and 11 were unchanged. Turnover was $175.3 million.
The New Zealand dollar climbed after figures showed the US consumer price index was flat last month while the price of whole milk powder jumped to a 10-month high overnight.
The kiwi rose to 72.52USc at 5pm in Wellington, from 72.26USc yesterday. The trade-weighted index advanced to 76.68 from 76.07 yesterday.
The company said in July that it had raised just $4.69 million in a fundraising that management had hoped would raise up to $12.26 million.
Five, including Mrs Eli Devoy, receive sentences.
NZ Initiative research head takes up cudgels after the Treasury’s position on film subsidies is sledged. With special feature audio.
Pumpkin Patch’s sales fell 16% to $102.8 million in the first half from a year earlier, with online sales down 13%.
Whole milk powder prices have risen almost 30% in the last month and are now back to levels last seen in October last year. With special feature audio.
“Despite the June quarterly increase in costs paid by fuel manufacturers, fuel prices have fallen by about half since mid-2012."
Fletcher Building chief executive Mark Adamson received a 17% pay rise this year to $4.72 million.
The Household Labour Force Survey shows unemployment dropping to 5.1% of the population and a 69.7% labour force participation rate.
The Wellington-based company posted a net loss of $23.1 million in the first half.
Fletcher’s profit expected to sit in the middle of its guidance range
Martin Aircraft is to enter a technology-sharing agreement with cornerstone shareholder KuangChi Science.
It’s “hard to get excited” about the expensive stock, says analyst.
Join NBR’s Jason Walls and NZForex senior corporate FX Nick Tvedt as they break down the week’s biggest currency news. With special feature audio.
F&P files patent infringement proceedings against its largest competitor.
Merger would entrench Sky’s monopoly on premium sports, put kibosh on development of wholesale market.
Stocks have retained a hot pitch.
The paper is a follow-up to an initial NZX report on participant rules released last November.
Zespri will now sell an extra seven million trays to China this year.
“Without any government funding to match increased wage costs you are going to see significant issues.”
The company reveals outlook for year ahead. With special feature audio.
The national carrier, Air New Zealand, is particularly opposed as it structures its long-haul international routes through Auckland.
Directors declared a fully-imputed final dividend of 14.5c per share.
Scroogey shareholders, where are the sums.
The lowest reading since November 2014
The stock has gained 37% this year, ahead of the index’s 14% advance.
Software company under fire for new borrowing says it is getting on with business.
In the wholesale market, the cost of energy improved by $4 per megawatt hour.
Case underlines need for fair use provisions in New Zealand, copyright expert Rick Shera says.
At 73, Richard Balcombe-Langridge is still “Mr Fixit” in the family business. With special feature audio.
The S&P/NZX 50 Index rose 9.27 points, or 0.1 percent, to 7,363.1.
UPDATED: Underlying profit was $19.4 million in the year ended June 30. With special feature audio.
We’re getting on with business, says co-op chairman
The kiwi dollar traded at 71.94 US cents at 5pm in Wellington.
Below-trend earnings growth forecast for Freightways.
Business travel news also includes new Dreamliner route for Air New Zealand and angels on board. With special feature audio.
Some 55% of the 8640 bales on offer at yesterday’s North Island auction.
The September whole milk powder contract on the NZX futures market last traded at US$2,560 a tonne.
Sean Joyce’s CM Partners designed the new type of bond, secured over a barrel of honey.
Sanford’s biggest shareholder sold 5 million shares on market for $27.5 million.
The NZX 50 fell 13.55 points, or 0.2%, to 7349.61.
The NZX 50 Index rose 4.21 points, or 0.1 percent, to 7353.82.
Brierley’s approaches have so far been spurned by the directors of Merchants.
The kiwi rose as high as 73.41 US cents after the policy decision was announced. With special feature audio.
Chief executive Alastair Hulbert said an announcement will be made about the CFO role in the next few weeks.
The country’s lamb crop is expected to drop for a second consecutive year this spring.
UPDATED: Some traders were expecting a more definitive statement about further easing. With special feature audio.
The Commerce Commission has filed charges in the Auckland District Court against insurance firm Youi NZ.
Food prices dropped 1.3 percent in July from the same month a year earlier.
The currency rose as high as 73.4USc. With special feature audio.
Total underlying ebit for the group as a whole was A$213.2 million. With special feature audio.
Net profit rose to $145.7 million, or 24.3 cents per share.
National guest nights jumped 12% to 2163 in June from the same month a year earlier.
Hair and beauty appointment booking company is on track to break even by the end of next year, founder says. With special feature audio – and video.
Annual report details total pay of $6.1 million, not counting share-based incentive.
Benchmarks are near record highs but trading activity is low.
The kiwi rose to 71.55USc at 8am in Wellington. With special feature audio.
Fitness entrepreneur turned green campaigner Phillip Mills has his eyes set on growing a billion dollar business. With special feature audio.
Bars and restaurants are changing to satisfy new dining and drinking habits. With special feature audio.
PGG Wrightson surprised analysts by producing a higher annual result after repeated upgrades from the company. With special feature audio.
The kiwi traded at 71.11 US cents as at 5pm in Wellington.
The S&P/NZX50 Index rose 39.88 points, or 0.6 percent, to 7,348.3.
With special feature audio.
Fruit-rotting fungus discovered in a kiwifruit shipment to China this month. With special feature audio.
A migration of smokers to e-cigarettes will lessen the flow of taxes on smoked tobacco.
Described by NBR in 1991 as a mystery German investor, Bay of Islands resident Peter Kraus is no less of a mystery today. With special feature audio.
A game changer for the port.
Food Revolution’s New Zealand business, Roxdale Foods, is based near Alexandra.
Mike Parsell joined the company when it operated just three stores.
Landcorp wants to move away from being a commodity supplier of agricultural products by developing higher=value products.
The local dollar traded at 54.78 British pence as at 5pm in Wellington.
The S&P/NZX 50 Index 10.33 points, or 0.1 percent, to 7,308.41.
The Tauranga-based company is working with suppliers and the Ministry for Primary Industries to develop new pre-shipping measures.
The company reported an $8.9 million loss.
With special feature audio.
A new non-profit KiwiSaver provider sets up an intriguing battle. With special feature audio.
Rod Drury, co-founder and CEO of Xero, joins Andrew Patterson on Episode 23 of Sunday Business.
Business travel news also includes EuroWings deal with Singapore Airlines and most Europe-AsiaPacific routes. With special feature audio.
In geopolitics, concepts without utility don’t last very long.
Being chosen by Forbes magazine as one of Asia’s top 50 Power Businesswomen in 2016 is just the ticket for fun-loving Auckland publisher Dame Wendy Pye. With special feature audio.
Prices for mid-micron wool increased an average 1 percent compared with last week’s South Island auction.
Profit rose to $22.7 million, or 18.2c a share in the six months ended June 30.
Training provider updates market on performance.
Iffy timing given Terranova pay equality debate? Shareholders’ Association weighs in.
The kiwi rose as high as 54.87 pence.
Cavalier Bremworth has hooked up with an Italian company. With special feature audio.
A new study says today’s generations will be worse off than their parents. With special feature audio.
Ebos says although the deal which will give it control of one of Australia’s three largest retail pharmacy networks won’t be material, it’s a step towards further consolidation of the industry. With special feature audio.
The Dow eased less than two points in a quiet day.
New Zealand shares gained after Kathmandu Holdings affirmed earnings would rise in line with its guidance. A2 Milk also advanced.
The S&P/NZX 50 index rose 20.69 points, or 0.3%, to 7,298.09. Within the index, 24 stocks rose, 21 fell and six were unchanged. Turnover was $155.8 million.
The S&P/NZX50 Index fell 51.8 points, or 0.7 percent, to 7,277.4.
The kiwi dollar traded at 72 US cents as at 5pm in Wellington.
Chairman Peter Merton said that Green Cross would look to “build the scope” of the primary healthcare services it offers.
The ANZ commodity price index rose 2% last month.
National supply chain opportunities could be on cards for new alliance. With special feature audio.
Profit attributable to shareholders of the parent company almost doubled to $23.8 million in the six months ended June 30.
Net profit was at least $27 million in the six months ended July 31.
Private sector ordinary time wages rose 0.4 percent in the three months ended June 30.
Total trades last month fell 5.6 percent from a year earlier to 122,670.
The farmer-owned cooperative reported earnings from continuing businesses before tax and rebates of $62 million in the year ended May 31.
The industry body said that reflects the cuts in costs that have been introduced by farmers to try to survive a diary downturn that is now in its third season.
The S&P/NZX50 Index dropped 27.44 points, or 0.4 percent, to 7,329.19.
The New Zealand dollar traded at 95.52 Australian cents at 5pm in Wellington. With special feature audio.
A spokeswoman for Zespri said the fungus, Neofabraea actinidiae, has no food safety implication.
The shares rose 6.4% to 50c.
US crude falls below $US40 a barrel for the first time since April.
The banks are indicating that cost cutting by dairy farmers is more sustainable than had been expected, says Forsyth Barr analyst James Bascand. With special feature audio.
The New Zealand dollar touched 95.20Ac.
The New Zealand Shareholders’ Association says it was lack of resources which delayed it taking action to force change at Rakon until now. With special feature audio.