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28 Apr 2024

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Devon Funds Morning Note - 11 December 2023
The US indices pushed higher on Friday, with the S&P500 reaching its highest point since March 2022 as the non-farm payrolls report and a key consumer survey painted an encouraging picture of the US economy

MMH - Marsden Maritime Holdings Announces Results for FY23
Marsden Maritime Holdings Ltd (NZX:MMH) has announced its annual result for the year ended 30 June 2023

CHI - Q1 2023 Conversion Project Update
Channel Infrastructure (CHI), New Zealand’s largest fuel import terminal business based at Marsden Point in Northland, has today released its quarterly conversion project update for the three months ended 31 March 2023 (Q1 2023)

Meridian / NZAS sign demand response agreement
Meridian Energy Limited (Meridian) and New Zealand Aluminium Smelters Limited (NZAS) have entered into a conditional agreement for NZAS to reduce its consumption of electricity at the Tiwai Point smelter by up to 50MW and provide demand response flexibili

CHI - Q3 Conversion Project Update
Channel Infrastructure (CHI), New Zealand’s largest fuel import terminal business based at Marsden Point in Northland, has today released its quarterly conversion project update for the three months ended 30 September 2022 (Q3 FY22)

Five in a row? All eyes on Reserve Bank ahead of Official Cash Rate decision
The Reserve Bank is widely expected to deliver another 50 basis point hike to the Official Cash Rate at 2pm today as it moves to try to head off inflation in the economy.That would be the fifth 50 basis point hike in a row - an...

ANZ launches green business loans at heavily discounted rate
ANZ is the latest bank to offer discounted loans to businesses that want to fund green initiatives.Businesses will be able to borrow up to $3 million at a floating rate of 3.85 per cent.The rate is a 1.5 percentage point discount...

Fonterra cuts milk price forecast to $9.25/kg mid point
Fonterra has cut its milk price forecast for the current year due to falling global dairy prices.The co-op's forecast has been revised from $8.75-$10.25 per kg of milksolids to NZ$8.50-$10.00 per kg.This reduces the midpoint of...

Channel more than doubles jet fuel storage at Marsden Point
Channel Infrastructure (CHI) confirms that it has this month successfully completed commissioning of an additional c45ML of jet fuel storage at Marsden Point (part of the 100ML of private storage currently contracted)

CHI - FFI Green Hydrogen Scoping Study progresses to next phase
Channel Infrastructure (CHI), New Zealand’s largest fuel import terminal business based at Marsden Point in Northland, has today announced that the scoping study for green hydrogen and synthetic Sustainable Aviation Fuel

CHI - 2023 Guidance Update
Channel Infrastructure (CHI), New Zealand’s largest fuel import terminal business based at Marsden Point in Northland, has today provided an update on its FY2023 financial guidance. Key highlights include:

Local CO2 shortage crippling New Zealand's beverage industry - brewer
By Jonty Dine of RNZ A lack of CO2 supply nation-wide has brewers fearful of a beer shortage this summer.The closure of the Marsden Point refinery at the end of March means the only remaining domestic source of liquid and other...

US Fed attacks inflation with another big hike and expects more
Intensifying its fight against high inflation, the Federal Reserve has raised its key interest rae by a substantial three-quarters of a point for a third straight time and signalled more large rate hikes to come — an aggressive pace...