Weekly briefs
Lost love, JB Were reports return, Greenspan reappointed, Important performance trivia.
Sunday, January 9th 2000, 12:00AM
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Good Returns' daily reports on the New Zealand share market and the debt market will resume this week.
The reports, supplied by JB Were, provide the closing prices and indices, plus succinct commentary on what has happened in the various markets during the day.
These reports compliment the hourly NZSE share price information provided by Good Returns, plus the daily Endowment Warrant prices.
Lost love
Tower has turned down advances from the Investment Savings and Insurance Association (ISI) aimed at getting it to join the grouping.
Tower and New Zealand Funds Management are the only major fund managers that is not members of the ISI.
Tower Investment Savings chief executive Stuart Fish says Tower has considered the advances from the ISI, but on balance choose not to join as it was happy doing its own thing.
"We like our independence," he says.
"We don't feel we have lost anything by not being a member," he says.
Adding humour to a serious savings question
The Office of the Retirement Commissioner has decided to add some humour into its advertising campaign.
Its latest series of five television ads takes a humorous approach to a serious question: "how much money will I need in retirement?"
"In taking a light-hearted approach to these ads we are encouraging people to have a go at finding out the answer to this question," Retirement Commissioner Colin Blair says.
Later this year the ORC will introduce an extensive workplace education programme.
The programmes is designed to take information directly to employers and employees.
Greenspan reappointed
The man who seems to be the chief controller of the world's investment markets, US Federal Reserve chairman Alan Greenspan, has been reappointed to the position for a fourth term.
There was speculation that the 73 year-old Greenspan would not be reappointed due to his age.
Greenspan is considered the major architect of the US's nine year, inflation-free economic boom.
Analysts expect the next meeting of the Federal Open Market Committee, on February 1, will increase official interest rates by one quarter of a percentage point.
Important trivia
The top performing sharemarket in 1999 was the Cyprus Stock Exchange, up 688 per cent as gambling like fervour took hold and flocks of sheep and goats were mortgaged to buy listed companies in anticipation of a boom should Cyprus join the European Monetary Union.
The top performing major market was the US Nasdaq 100 propelled by the "anything.com" craze to 102 per cent for the year.
This year's worst performer was Panama - down the canal by 15 per cent. The NZSE40 was one of the worst performing indices according to Bloomberg.
Locally, commercial property did 6 per cent, NZ shares 5.6 per cent, and bonds fell 0.1 per cent.
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