F&P Healthcare, Mainfreight gains not enough to lift NZ sharemarket

Heavyweights Fisher & Paykel Healthcare and Mainfreight made gains with pleasing annual results, but they weren’t enough to lift the New Zealand sharemarket higher.

The S&P/NZX 50 Index had a sharp fall in the end-of-day matching session and closed at 11,678.68, down 3.83 points or 0.03% after reaching an intraday high of 11,757.9.

There were 58 gainers and 75 decliners over the whole market on volumes of 32.63 million share transactions worth $139.11m. 

Across the Tasman, the S&P/ASX 200 Index had fallen 1.18% to 7675.4 points at 6pm NZ time after ...MORE»

Simplicity Living completes new homes, thematic fund ramps exposure Wednesday, May 29th, 6:23AM Simplicity-owned property developer Simplicity Living, has opened its third build-to-rent development in Mt Albert, Auckland, this week. MORE»

[GRTV] Public aware that ignoring climate change is ignoring investment risk Tuesday, May 28th, 6:18AM Just over five years ago Barry Coates was trying to find products for an ethical investment portfolio and gave up after a week. He says with a master’s degree in finance from Yale University, it should’ve been easy but the data wasn’t comparable and there were no objective measures. MORE»

No shift on KiwiSaver balance gender gap

New KiwiSaver analysis for 2023 shows the 25% gap between men and women’s balances did not improve over the year.

The average KiwiSaver balance at Dec 31 2023 was $31,823, an increase of 16.2% ($4,444) from the previous year, shows research by Melville Jessup Weaver (MJW) for Te Ara Ahunga Ora Retirement. The increase reflects the strong recovery the financial markets experienced over 2023.

The average balance for men grew 16.2% (by $5,109) and 16.6% (by $14,147) for women. However, the gap between the average ...MORE»

Govt looks to shake up disputes resolution schemes Friday, May 24th, 6:00AM The government is looking at a potential overhaul of the financial services disputes resolution schemes, including imposing greater uniformity of standards, increasing oversight and increasing promotion of the schemes to raise consumer awareness. MORE»

RBNZ pushes out first OCR cut into 2H 2025 Wednesday, May 22nd, 2:49PM The Reserve Bank has pushed out its likely first cut in its official cash rate (OCR) into the second half of 2025 and possibly not until the final quarter. MORE»

News Bites

Generate gets on board with Spirit of Adventure

Generate partners with the Spirit of Adventure Trust to help empower more Kiwis get ahead. MORE»

GoodReturns TV

[GRTV] A trip around investment issues with MyFiduciary’s Chris Douglas

It’s not just changes to the trustee tax tax rate that’s driving PIE growth, MyFiduciary principal Chris Douglas tells Good Returns TV. MORE»

Air New Zealand – brightness on the horizon?

It is no secret that the airline industry has faced a turbulent time in recent years, with participants halted for long periods during the pandemic, and making large losses. MORE»

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AIA Wellbeing Study: Vulnerable conversations ease adviser stress

Anna Schubert, AIA NZ Head of IFA and Group Distribution, has heard some harrowing stories from financial advisers. MORE»

TMM Online

CCCFA changes could remove personal liability on directors and senior managers

The changes the government is considering making to the Credit Contracts and Consumer Finance Act (CCCFA) aren't the things that have made headlines, such as coffee and Netflix habits disqualifying borrowers from getting mortgages, since changes to the law came into effect in December 2021. MORE»

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Generate adds new board member

Former FMA board member joins Generate board. MORE»

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No shift on KiwiSaver balance gender gap

New KiwiSaver analysis for 2023 shows the 25% gap between men and women’s balances did not improve over the year. MORE»