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The New Zealand market (NZX 50 Index, +0.5%) rose half a percent on Thursday on light trading. ANZ Bank (-4.0%) sold off even after reporting an annual cash net profit of $2.06 billion (for the 12 months to 30 September 2022), an 8% increase over its 2021 figure. However, the company’s report ominously spent half of its space addressing the “financial pressure” impacting its home-loan customers from interest rate rises. At the same time, ANZ’s Home lending increased $5.3 billion to $104 billion over the 12 months. 

The New Zealand market (NZX 50 Index, +1.3%) rose on Wednesday, thanks to positive updates from a range of companies.  Fletcher (+3.1%) advanced after it reconfirmed its 2023 forecasts for earnings before interest and tax to be greater than $855 million but with the caveat that it has a “clear playbook if activity shows any signs of softening in the next six to nine months”. 

The New Zealand market (NZX 50 Index, +1.1%) rose on the back of large gains from Mainfreight (+5.6%) and Fisher & Paykel Healthcare (+3.7%). The former adding to its +4.5% rally last Friday, after revising upwards its estimated revenue for the 26 weeks to 30 September +32.5% to $3.01 billion.  

The New Zealand market (NZX 50 Index, -0.3%) declined on Friday and was closed for trading Yesterday in observance of Labour Day. 

The New Zealand market (NZX 50 Index, -0.8%) was dragged down by market anticipation for a 75-basis-points rate hike from the Reserve Bank of New Zealand in one month’s time. 2 and 10-year Bank swap rates are now at 12 and 14-year highs, respectively. Additionally, commercial banks, starting with ANZ and Westpac, are increasing mortgage rates.  

The New Zealand market (NZX 50 Index, +0.6%) rose on the back of the huge rally in Freightways (+5.9%).  The global dairy trade index (-4.6%) slumped overnight, with whole milk powder (-4.2%) and skim milk powder (-6.9%) cratering. Dairy stocks were mixed with A2 Milk (+1.0%) up, Fonterra Shareholders’ Fund units (0.0%) flat, and Synlait (-1.0%) falling. 

The New Zealand market (NZX 50 Index, +0.6%) lifted on Tuesday despite annual inflation coming in at 7.2% for the September quarter, when the market expected a figure closer to 6.5%. Markets are now beginning to price in the possibility of a 75-basis-points rate hike from the Reserve Bank of New Zealand in November, with a 50-basis-points hike or more almost certain. 

The New Zealand market (NZX 50 Index -0.8%) fell in the lead up to the release of the country’s inflation data, due today at 10:45 am NZDT.  Tower (+5.7%) surged after announcing its annual underlying profit was about NZ$40m in the year ended Sept 30, beating forecasts by ~30%, and improving on last year’s underlying profit of NZ$30.8m. 

The New Zealand market (NZX 50 Index, +0.5%) rose on Friday, following the US markets’ Thursday rally. Fonterra (+1.7%, Shareholders’ Fund Units) trimmed its milk collection forecast by -1.0% to 1,480 million kilograms of milk solids due to “variable weather conditions…contributing to lower collections through September and early October”. A2 Milk (-2.5%) and Synlait Milk (-0.6%) moved in the opposite direction on Friday.