Top things to watch out for in New Zealand market today

Highlights

  • Auckland continues to report rise in COVID-19 cases and aims for 90% plus vaccination rate to get away with strict lockdowns.
  • Westpac NZ has hired Christian McGrath as its next CEO.
  • Air NZ has declared mandatory vaccination against COVID-19 for over 50% of its staff.

The New Zealand sharemarket is always buzzing with company news and announcements, which either enthuse investors or dash their hopes. Investors’ response to different news, in turn, results in stock prices going up or down.

There are also many economic and political developments along with global factors that can affect the market.

Let’s have a look at the top 10 things that are happening in the NZ market today.

Things and Companies that can affect New Zealand.

Image source: © 2021 Kalkine Media New Zealand Ltd, Data source- Refinitiv

  1. NZ reported 10 new cases of COVID-19 in the past 24 hours. Auckland moved to Alert Level 3 on Tuesday night from the strict Alert Level 4 lockdown, which was imposed due to the spread of highly infectious delta variant in August.
  1. NZ aims at the 90%-plus rate of the COVID-19 vaccination by 4 October. Lockdowns must be replaced by vaccinations as the key instrument against the virus, as per Ardern. The statement comes as NZ’s biggest city, Auckland, is still reporting new cases everyday.
  1. Air New Zealand Limited (NZX:AIR) announced that more than 50% of its staff would need mandatory vaccination against COVID-19 to deal with increased safety risks created by Delta and its people on the frontline.

RELATED READ: What lies ahead for NZ travel and tourism sector in 2021?

  1. Fonterra Co-operative Group Limited (NZX:FCG) announced a review of its Australian business, which is a part of a new long-term strategy that has a focus on NZ milk.
  1. APT, an Australian luxury jet tour company, has set its sights on the Kiwi market, offering travelers to see NZ by hopping on a private jet. The tour has a cost of NZ$12,595 with 2 departures on 26 February and 19 March next year if the trans-Tasman travel bubble begins again by February 2022.
  1. Australia-owned bank, Westpac Banking Corporation Limited (NZX:WBC, ASX:WBC), has appointed Catherine McGranth as its next New Zealand Chief Executive, replacing the bank’s acting Chief Executive Simon Power.

ALSO READ: Which are 5 popular banks in New Zealand?

  1. New Zealand posted a record monthly trade deficit of NZ$2.1 billion in August due to a surge in imports. Imports rose NZ$1.8 billion in the month while exports saw little change (down NZ$42 million).

RELATED READ: New Zealand’s monthly trade deficit widens due to surge in imports

  1. NZD/USD opened at 0.7064 today and stayed in a firm mood due to bleak NZ trade data, The pair witnessed a jump a day before and ended at 0.7066 on 23 September.
  1. Investors are on the edge as China’s biggest property developer Evergrande’s bondholders wait on Friday about interest pay information that was due the day before.
  1. Increased optimism among investors after the US Federal Reserve Chairman Jeremy Powell revealed a day before that the central bank would start scaling back asset purchases in November and finalise the process by mid-2022. The move comes after Fed revealed that it may being raising interest rates in 2022.

Comment


Disclaimer

   
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK