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Hamilton Hindin Greene News

The market's "all-time highs" means it must be overvalued - Fake news?

Seemingly not a day goes by where various media commentators espouse their opinion on the current level of the New Zealand share market, almost uniformly describing the market as overvalued. On the face of it, this seems perfectly reasonable, given the market is hitting all-time highs on a daily basis. But do these highs really represent a market that has outperformed? Detailed analysis tends to prove otherwise. The chart above tracks the New Zealand share market since its highest point it...
Filed under Newsletter

Market Wrap with Tom McBride (19th June)

New Zealand shares fell today, as Pushpay emerged from its trading halt and co-founder Elliot Crowther's sale of his entire stake in the payments software company. The NZX50 index sank 111 point to 8,863.24, on turnover of $242 million. Pushpay closed down 24c, or 5.5%, to $4.13. The stock was put in a trading halt yesterday afternoon as Mr Crowther announced his resignation from the company, effective Thursday, and the sale of his 9.03% stake, underwritten at $4.04 per share against...
Filed under NBR

Market Wrap with Grant Davies - Tegel, Vodafone, The Federal Reserve and Rising Interest Rates

Today Grant Davies talks to Grant Walker about the impact of a predicted rise in Interest Rates by the Federal Reserve, and what that will do to the share market. They also touch on the Tegel takeover offer, and the run of good results we had in May. Grant Davies also explains the impact of the new CEO appointment at Vodafone, and the effect that had on Spark and Sky TV on the market today.
Filed under Grant Davies \ NBR

Market Wrap with Tom McBride - Orion Health, Mainfreight, Pacific Edge and Goodman Property Trust

New Zealand shares had a slight fall today, after a mixed bag of company results announcements. The S&P NZX 50 index was down nine points to 8635 on turnover of $132 million. Hamilton Hindin Greene investment adviser Tom McBride says the spotlight was on Orion Health’s “disappointing” result. The company reported a full-year loss of $40.4 million, which was in line with analyst expectations. Last year, it lost $33m. Later in the day, it said it is in talks with...
Filed under NBR

Market Wrap with Grant Davies - MSCI Index Reshuffle Dominates Trading

An MSCI index reshuffle sent shares for Fletcher Building soaring after it survived, but Mercury Energy shares fell as it was culled from the index. Overall, the NZX50 index dipped 4.45 points to 8,708.78, on turnover of $218 million. “Across the board what we’re seeing with these index changes is the influence of passive money in the market,” says Hamilton Hindin Greene investment adviser Grant Davies “The tracking of the index actually leading to share price movements makes it slightly...
Filed under Grant Davies \ NBR

Market Wrap with Tom McBride - SkyCity Entertainment, Fletcher Building, MOA and Z Energy

Tom McBride talks to Grant Walker from the NBR about today's market news. We had more bad news for Fletcher Building, down 1.7% as SkyCity Entertainment are seeking damages for delays in the construction of the SkyCity International Convention Centre in Auckland. Meridian Energy have appreciated 1.19% for the day on the back of the NZ Aluminium Smelters (NZAS) signing a new contract with Meridian Energy for the supply of an additional 50MWh per hour. Moa have partnered with Constellation...
Filed under NBR

Market Wrap with Grant Davies - AMP, Fletcher Building and Vocus

Grant Davies talks to Grant Walker from the NBR about today's market news. We had more bad news for AMP, down 4% as the Royal Commission in Australia continues revealing revelations of inappropriate conduct throughout the organisation. The shares are off 15% since news started to filter out last Tuesday (17th of April). Fletcher Building also continues to consolidate as their capital raising continues. Vocus have also decided to pull the sale of their New Zealand telecommunications assets citing that...
Filed under Grant Davies \ NBR

Earnings Season Wrap

Most companies' reporting results this earnings season have been positive and optimistic on the future, with the exception of a few market shockers. The first quarterly reporting season of the year has seen a number of companies report mainly interim results. While results have been mixed and so too the reaction, the overall level of announcements has been pretty positive across the board, which is a reflection of a reasonably strong economy in New Zealand. A2 Milk has been the stand-out...
Filed under Newsletter

Scottish Mortgage Trust - It's Scottish, but had little to do with mortgages

Launched in 1909, Scottish Mortgage is considered to be Baillie Gifford’s flagship investment trust. It is, and always has been, a truly global proposition, investing in companies across both Western economies and emerging markets. The trust currently has £5 billion* in net assets under management. In a nutshell Scottish Mortgage is an actively managed, low cost investment trust, investing in a high conviction global portfolio with the aim of maximising total returns over the long term. The global approach is reflected...
Filed under Newsletter

Transurban Group - Australian Infrastructure

Transurban is a major toll road investor with concessions to operate 14 Australian and two U.S. motorways. Concessions grant the right to operate the roads and collect tolls for predetermined amounts of time. The core Australian roads are integral parts of the motorway networks in Australia's three largest cities: Melbourne, Sydney, and Brisbane. Granting toll-road concessions allows governments to use private capital and expertise to provide necessary improvements to road networks. Typically, concession life and toll profiles are set in negotiation...
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