AGP Executive Report
Last update: 8 hours agoStartup Deal: Auckland precision-fermentation company Daisy Lab has been acquired by global biotech firm Mycofeast for an undisclosed sum, giving its dairy-identical protein technology an international platform. Markets: The NZX 50 rose 0.5% to 13,832.8, helped by weaker Australian jobs data that eased expectations of an RBA rate hike. Solar developer Lodestone Energy is set to list next week after completing its IPO; Rocket Lab shares slumped after its Neutron launch was pushed into next year. India Trade: New Zealand’s free-trade agreement with India takes effect on October 20. Under the deal, the apple sector is establishing an orchard and research centre in Himachal Pradesh to help local growers lift production, alongside expanded trade cooperation. Bank Resilience: A joint RBNZ-APRA stress test found banks could withstand a severe recession and oil-price shock, but loan losses would erode capital buffers. The RBNZ warned support from Australian parent banks could not be guaranteed if both countries were under severe strain.
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