NZ sharemarket up over 1.8% for the week

The New Zealand sharemarket ended a strong week with a gain of more than 1.8%, erasing the year’s earlier losses, and powered by heavyweight Fisher and Paykel Healthcare as it neared a record high.

The S&P/NZX 50 Index kept marching ahead all day and closed at 13,130.43, up 129.76 points or 1%. The index rose 1.81% for the week and is now ahead 0.5% for the year after falling as much as 1.5% last week. 

Volumes improved, with 37.29 million shares worth $136.1m changing hands.

'Ups and downs'

Mark Lister, investment director with Craigs Investment Partners, said: “We ...MORE»

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New non-bank deposit taker to court advisor networks

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Welcome Limited had its NBDT licence application approved by the RBNZ last week and hopes to begin offering secured term deposits out to five years from the second quarter of ...MORE»

FMA tests legal waters on eligible investor exclusion Monday, January 13th, 12:16PM  2 comments Wholesale investors will likely need to provide more detailed evidence of their eligibility if the Financial Markets Authority receives support for its position on eligible investor exclusion from the High Court.  MORE»

Market ends week down but Briscoe shares up despite lower earnings guidance Friday, January 10th, 6:32PM Leading retailer Briscoe Group downgraded its annual earnings by 10% on “continued subdued trading” as the New Zealand sharemarket ended a quiet week with a small fall. MORE»

News Bites

New Partnership to Upskill New Zealand’s Financial Capability Workforce

A new partnership between Massey University’s Financial Education and Research Centre (Fin-Ed Centre) and the Booster Foundation aims to address gaps in New Zealand’s financial advice sector. MORE»

GoodReturns TV

[GRTV] Stronger and more unified voice needed to force KiwiSaver changes

The Retirement Commissioner Jane Wrightson talks to Philip Macalister about changes she would like to see made to KiwiSaver. MORE»

Devon Funds 2025 Predictions

While a new year is already underway, it is early days. This makes it still a timely point to wheel out the crystal ball and engage in the well-established tradition of making big-picture predictions on developments and factors that will shape markets and investment portfolios in the year ahead. MORE»

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New life insurance company coming

A new life insurance company is planning to launch later this year and has already made some senior hires. MORE»

TMM Online

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Chubb Life appoints chief actuary

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Appeal of one-stop shop helps drive Sharesies’ KiwiSaver growth

Sharesies is a recent arrival on the KiwiSaver scene but says it’s finding favour with customers who access all their investments in one place. MORE»