AGP Executive Report
Last update: 8 hours agoMarket Watch: New Zealand’s S&P/NZX 50 rose 1.1% to 13,834.39 on Wednesday, lifting the September quarter gain to 1.6% as softer-than-expected inflation across the Tasman pushed traders to scale back expectations of further Reserve Bank of Australia hikes; Retail & Consumer: Warehouse Group climbed for a fourth day after reporting a return to profit, while Hallenstein Glasson surged 48% in the quarter to new highs and Ryman Healthcare and Summerset slid on higher bond yields and a softer housing backdrop; Local Business: Morrisons Daily opened a refurbished West Auckland Road store in Darlington, adding a bakery, Barista Bar coffee and hot food counter as the franchise continues its convenience network expansion; Corporate Moves: Future Mobility Solutions’ stake in amphibious boatmaker Sealegs was diluted after a Jersey company bought 60% of Sealegs, cutting FMS ownership to 35%; Policy & Housing: Treasury’s pre-election update flagged weaker house price growth ahead, citing higher interest rates, faster housing supply growth and lower migration, with Labour still banking on its capital gains tax settings to fund promises; Energy & Infrastructure: Waikato Waters is set to take over water and wastewater services in Matamata-Piako, with charges expected to rise over time as upgrades and regulatory requirements kick in.
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