News

SUM has rallied but is still our top pick in the retirement village sector, providing better value than Ryman 

The market is now expecting a full 25bps hike by August 2022. The prospect of higher NZ interest rates saw the currency surge, and it is now trading at 74.5 cents versus the US dollar.

A2 Milk plunged another -15% yesterday after lowering its full-year earnings guidance for the third time.

It was a mixed February for share markets, with the New Zealand, Australia, and US markets returning -6.9%, +1.5%, and +2.8% respectively for the month.

It’s been a busy time with local earnings season. While we touch on company announcements below, as always, we will release full updates in our weekly report.

Global markets were mixed overnight with US markets (S&P 500 -0.03%) little changed as investors rotated out of technology shares and concerns about inflation added some pressure on stocks.

The market is pricing in optimism over an economic recovery with energy and financials performing well, which was offset by a sell-off in real estate and healthcare sectors.

The S&P Global Clean Energy (GCE) Index is undertaking a review, the result of which we expect will likely be a material down-weight for Contact (CEN) and Meridian (MEL), which have both benefited from a surge in ETF buying. We would expect to see some fo

We have had a reminder that COVID news is still relevant locally on both sides of the Tasman, with both Victoria and Auckland entering fresh lockdowns.