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27 Jul 2024

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BNZ follows other major banks and trims home loan rates
The bank has reduced interest rates on all of its classic home loans - where a customer has at least 20% equity - by between 16 and 30 basis points.

Synlait FY24 guidance withdrawal
The previously announced guidance stated that Synlait’s earnings before interest, taxes, depreciation, and amortisation (EBITDA) performance was to be at the lower end of the $45 million to $60 million range

SUM - 2Q24 Metrics - Sales of Occupation Rights & HY Guidance
The wider property market in NZ has been softer than anticipated to start 2024, restrained by high interest rates, weak consumer confidence and cost of living pressures

Auckland house sellers giving up rather than taking lower prices
Auckland and Northland have the highest rates of “delisting” in the country.

NEW ZEALAND OIL & GAS BUYS MORE OF THE MEREENIE GAS FIELD
As announced on 14 February 2024, New Zealand Oil & Gas agreed to purchase a further 25% equity interest in the Mereenie licences, located in the Amadeus Basin in Australia's Northern Territory.

EXPRESSION OF INTEREST IN THE SUPPLY OF MEREENIE GAS
Central Petroleum Limited, the Operator of New Zealand Oil & Gas Limited’s (NZO) Amadeus Assets (Mereenie, Palm Valley and Dingo) has issued the attached media release announcing an Expression of Interest (EOI) for the supply of gas from the Mer

Finding Neutral: Estimates of New Zealand’s Nominal Neutral Interest Rate
Due to New Zealanders’ high inflation expectations, the Official Cash Rate (OCR) would currently need to be about 3.9 percent to neither tap the brakes nor push on the accelerator of the economy, the Reserve Bank’s new Bulletin article shows

Spark Finance sets interest rates for offer
Spark Finance Limited earlier today announced that, following a bookbuild for its offer of two series of unsecured, unsubordinated fixed rate bonds (the 2029 Bonds and the 2031 Bonds, and together the Bonds)

NZL - Roc Partners Transaction Settlement
NZL is pleased to announce that the agreement to sell a 25% equity interest in its land portfolio to Roc Partners settled today for NZ$44.2m

Here’s what NZ banks are planning to do with mortgage rates
Economists say borrowers could be in a much more comfortable position this time next year.

Hopes of early interest-rate cut rise slightly as inflation falls to 3.3%
Finance Minister Nicola Willis says inflation drop evidence the economy is turning around.

Hopes of early rate cut expected to rise as inflation falls to 3.3%
The latest inflation figures are being digested by economists looking for clues on when when the Reserve Bank might feel able to cut interest rates.

Devon Funds Morning Note - 7 June 2024
European markets closed at record highs on Thursday as the European Central Bank delivered the first interest rate cut since September 2019. The STOXX600 surged 0.7%

PaySauce FY24 Full Year Result and Annual Report
Software as a Service Fintech PaySauce (NZX: PYS) today reports a maiden full year net profit after tax of $1.2m for the year to 31 March 2024 as the company benefited from growth in customers and increased interest income

Consultation opens on a digital currency for New Zealand
The Reserve Bank of New Zealand – Te Putea Matua is continuing its exploration of a central bank digital currency

Devon Funds Morning Note - 17 April 2024
The S&P500 tried to rebound at various points in the session, but closed slightly lower as Fed Reserve Chair Jerome Powell said in a speech that more progress was needed with inflation before interest rates could be lowered.

Winton continues momentum into FY24
Winton (NZX:WIN / ASX:WTN) is pleased to release its interim results for the six months ending 31 December 2023 (H1 FY24) with revenue of $85.6 million(1), earnings before interest, tax, depreciation and amortisation (EBITDA) of $14.2 million and $9.7 mil