Tag Archives: NZX

Property for Industry led the NZX50 up before lunchtime today as it announced a deal to merge with Direct Property Fund, an unlisted PIE in the same sector, to create a commercial property empire worth close to $800 million. PFI shares were up 4.9 percent at 11am, at $1.40, and were showing a 14.1 percent gain over the last 12 …

Guinness Peat Group chairman Rob Campbell, who was brought into the investment firm to oversee its wind-down, has joined the board of rental campervan operator Tourism Holdings. The appointment takes the number of independent directors on the Tourism Holdings board to five of the six-strong board, and the company expects to make another addition in coming months, said independent director …

Three years after taking over Shell New Zealand’s petrol refining, transport and retail operations, Infratil and the New Zealand Superannuation Fund are looking to float between 40 percent and 60 percent of Z Energy on the NZX in the third quarter of this year. The announcement comes at the start of an Infratil investors’ day, and reflects in part the …

New Zealand shares rose, led by Air New Zealand and Kathmandu, after the Dow Jones Industrial Average hit a record high, better economic growth in Australia and as the local market digests New Corp’s Sky Network Television stake. The NZX 50 Index rose 28.81 points, or 0.7 percent, to 4297.97. Within the index, 30 stocks rose, 16 fell and four …

Investors will eye February’s jobs report on Friday for fresh signs that the US economic recovery remains on track despite a range of headwinds – including the budget-cut debate in Washington and the political impasse in Rome. Wall Street keeps flirting with record highs but investors seem hesitant to push stock valuations substantially higher. In the past week, the Dow …

New Zealand shares rose to a new five-year high as investors cheered Air New Zealand’s profit growth and Fletcher Building pushed back above $9. The NZX 50 Index rose 43.68 points, or 1 percent, to 4320. Within the index, 25 stocks rose, 15 fell and 10 were unchanged. Turnover of $250 million included more than 10 million Trade Me shares. …

Telecom Corp, the country’s biggest phone company, eked out a 3.7 percent lift in first-half underlying earnings as revenue from its mobile business propped up otherwise disappointing sales. Stripping out one-off items from the Chorus demerger a year earlier, adjusted earnings before interest, tax, depreciation and amortisation rose to $506 million in in the six months ended Dec. 31 from …

Diligent Board Member Services, whose shares have more than doubled in the past 12 months, says it sees no need to restate earnings after reviewing a report into executive options that may not have complied with its incentive schemes. The shares, halted pending the report, will resume trading today. “At this time, the Diligent Board, based on advice received from …

Snakk Media, the latest brainchild of Hyperfactory co-founder Derek Handley, will list next month on the stock exchange’s small-cap bourse as a pre-cursor to a capital raising. The Auckland-based company, which aggregates publishers’ ad space on mobile devices and matches it to advertisers’ demand, will list on the NZAX on March 6 in a compliance listing, allowing future capital raising, …

ANZ New Zealand, the country’s biggest lender, reported a 25 percent fall in first-quarter profit as the local unit of Australia & New Zealand Banking Group recorded softer margins, even as it grabbed more market share. Net profit dropped to $300 million in the three months ended Dec. 31, from $400 million a year earlier, according to ANZ New Zealand’s …