FMA files charges for insider trading

Press Release – Financial Markets Authority

The FMA has filed charges in the Auckland District Court alleging breaches of the insider trading prohibitions contained in the Financial Markets Conduct Act 2013 (FMCA). The charges were filed in relation to trading in shares of Eroad (NZX:ERD). … Read more »

UPDATE: NZX reopens after 1.5 hour delay

Article – BusinessDesk

March 8 (BusinessDesk) – New Zealand’s stock market has reopened after IT connection problems caused an hour-and-a-half delay. Read more »

NZX system problems delays stock market open

Article – BusinessDesk

March 8 (BusinessDesk) – Problems with the NZX’s trading system has delayed the stock market from opening today. Read more »

Economists pare back Fonterra milk payout forecasts

Article – BusinessDesk

March 8 (BusinessDesk) – Economists have pared back their forecasts for Fonterra Cooperative Group’s milk payout to its farmer shareholders for the current season after dairy prices tumbled in the overnight GlobalDairyTrade auction. Read more »

Vista expects ‘meaningful revenue’ for Movio unit

Article – BusinessDesk

March 8 (BusinessDesk) – Vista Group International expects to generate “meaningful revenue” for its Movio analytics division after signing US cinema advertiser Screenvision Direct as a customer. Read more »

Who Owns New Zealand? CAFCA Releases Latest Key Facts

Press Release – Campaign Against Foreign Control Of Aotearoa

The Campaign Against Foreign Control of Aotearoa (CAFCA) has uploaded the 2017 edition of its Key Facts. Read more »

More Mergers and Acquisition; Standard Life & Aberdeen

Article – ThinkMarkets

Today is all about mergers and acquisition and this what driving the sentiment. However, European markets are poised to open lower ahead of a busy week which is full of macro events and economic data. Read more »

Zeffer cider smashes $1.2 million capital target in five day

Press Release – Zeffer Cider

The largest independent, dedicated cider producer in New Zealand, Zeffer cider, has achieved its $1.2 million public capital offer less than a week after launching via the Snowball Effect platform. Read more »

Judgment: FMA v Warminger

Press Release – New Zealand High Court

The FMA brought proceedings against Mr Warminger alleging that on 10 occasions he had manipulated the trading of a number of stocks on NZX in breach of S 11B, Securities Markets Act 1988. The judgment discusses the elements of S 11B and whether the defence … Read more »

TruScreen shares jump as it announces new distribution deals

Article – BusinessDesk

March 6 (BusinessDesk) – NZAX-listed TruScreen shares jumped 14 percent after the cervical cancer test developer announced distribution agreements for the sale of its screening device in multiple new markets. Read more »

Healthcare Partners Partial Takeover Offer Fails

Press Release – Abano Healthcare Group Limited

Abano Healthcare Group Limited (NZX:ABA) advises that the hostile partial takeover attempt by dissident shareholder Healthcare Partners Holdings Limited and its directors, Peter and Anya Hutson and James Reeves, has failed after closing with minimal acceptances … Read more »

Warminger’s market manipulation an expensive conduct lesson

Article – BusinessDesk

March 3 (BusinessDesk) – Mark Warminger’s trial for stock market manipulation will be closely scrutinised by securities law practitioners and has been a good test of the law, says one expert, describing it as “a very expensive way to teach ethics … Read more »

Warminger ‘disappointed’ by finding

Article – BusinessDesk

(updates to add comment from Warminger’s lawyer, Milford Asset Management in lede paragraph, paragraphs 4-8) Read more »

Milford’s Warminger manipulated NZ stock market twice

Article – BusinessDesk

March 3 (BusinessDesk) – Former Milford Asset Management portfolio manager Mark Warminger manipulated the New Zealand stock market in two trades in 2014, but there wasn’t enough evidence for the remaining eight instances argued by the Financial Markets … Read more »

While you were sleeping: Brainard adds to rate bets

Article – BusinessDesk

March 3 (BusinessDesk) – Wall Street fell from record highs, while the US dollar gained, as another Federal Reserve official boosted bets the central bank will raise interest rates at its meeting this month. Read more »

Renewed bets for Fed rate hike in March stoke greenback

Article – BusinessDesk

March 2 (BusinessDesk) – The New Zealand dollar fell amid growing speculation the US Federal Reserve will hike interest rates in March in an economy showing more signs of life and a president whose policies are seen to be stimulatory. Read more »

Wellington Drive releases its 2016 financial statements

Press Release – Wellington Drive Technologies

Wellington today released its financial statements for the year ended 31 December 2016, presenting a result consistent with the market update provided on 1stFebruary 2017. Read more »

While you were sleeping: Target sinks, eyes on Trump

Article – BusinessDesk

March 1 (BusinessDesk) – Wall Street weakened from record highs as investors focused on US President Donald Trumps address to Congress later in the day to assess if bets on his broad policy promises are justified. Read more »

T&G Global Achieves 67% Increase in Profit After Tax

Press Release – Turners And Growers

T&G Global Limited and its subsidiary companies (T&G Global) achieved a profit after income tax of $32.4 million for its 2016 financial year (January to December), a 67 per cent increase on its 2015 result of $19.5 million. Overall revenue rose … Read more »

NZ Refining annual profit drops 69% from a record year

Article – BusinessDesk

NZ Refining annual profit drops 69% from a record year with margins weaker in 2016 Read more »

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