Investing for good - the new moves to take the nasties out of your KiwiSaver
30 Apr, 2021 05:32 AM
15 minutes to read
Fossil fuel investments must be excluded under the new default KiwiSaver provider appointments. Photo / File
Five years ago, KiwiSaver investors were shocked to find their retirement savings were propping up companies involved in cluster bombs, landmines and tobacco. Fund managers pulled out of the investments, black-listing a range of companies in those sectors and building exclusion lists to make sure they kept onside with members.
Now a new group of exclusions are set to be added to the list of companies that KiwiSaver providers will either have to avoid, or make an active decision to include or exclude.
Stock Takes: How Covid-19 is taking NZ stocks in different directions
30 Apr, 2021 05:35 AM
7 minutes to read
A2 Milk s shares have slumped while F&P Healthcare is back on a roll. Photo / Supplied
A2 Milk s shares have slumped while F&P Healthcare is back on a roll. Photo / Supplied
A2 Milk s share price has slumped while Fisher & Paykel Healthcare is back on a roll - all thanks to Covid-19. The alternative milk company s share price was close to a three-and-a-half-year low this week as more brokers turned bearish on its prospects.
The depressed share price means the stock runs the risk of dropping out of the all-important MSCI New Zealand Index, which is used as a benchmark for influential passive index tracking funds.
Market close: Late surge lifts NZ sharemarket to gain
14 Apr, 2021 05:35 AM
4 minutes to read
The a2 Milk Company continued to recover, rising 6c to $8.95. Photo / Supplied
NZ Herald
By: Graham Skellern
The New Zealand sharemarket had a late surge after trading flatly for most of the day as the Reserve Bank signalled business-as-usual in its monetary policy. The S&P/NZX 50 Index closed 94.96 points or 0.75 per cent ahead at 12,751.38, after moving from an intraday low of 12,656.42. There were 85 gainers and 55 decliners over the whole market on steady volume of 56.15 million share transactions worth $193.13 million.
The Reserve Bank maintained its loose and easy policy, as expected, with no changes to the 0.25 per cent official cash rate, the funding for lending and the $100 billion cap on large-scale asset purchases – the latter two programmes running through to June next year.
Market close: NZ sharemarket falters on surprise Air New Zealand move
9 Apr, 2021 05:45 AM
4 minutes to read
The S&P/NZX 50 Index fell 58.25 points or 0.46 per cent. Photo / File
NZ Herald
By: Graham Skellern
The New Zealand sharemarket faltered on the surprise move by Air New Zealand to delay its capital raising and the continued uncertainty over the activity of the offshore clean energy exchange traded funds. The S&P/NZX 50 Index fell 58.25 points or 0.46 per cent to 12,574.35, after reaching an intraday high of 12,686.33. There were 81 gainers and 62 decliners over the whole market on volume of 56.59 million share transactions worth $219.47 million.