Bernard Hickey reviews the day's business news with Duncan Garner at RadioLive, Wednesday during drive-time, October 19, 2016.
You can hear their discussion here.
The NZX 50 is closing up just a tad (about 5 points) after falling 8% in six weeks. Z Energy closed up strongly after a presentation to investors. Sky City Entertainment fell again on the China gambling crackdown concerns.
New Zealand's housing market is now worth over NZ$1 trillion and grew more in the last year than the entire value of the New Zealand stock market, which took over 100 years to build. That's according to Reserve Bank figures out this week. It also shows New Zealand's houses were worth 381% of nominal GDP as at the end of June. The US housing market peaked at 210% of GDP in 2007. Australia's housing market is currently worth over A$6 trillion or 352% of Australian nominal GDP.
PCE Commissioner Jan Wright's report on agricultural greenhouse gas emissions is a useful read for anyone in the farming and forestry businesses. She suggests an awful lot of tree planting is needed to offset the emissions, and that lots of new technology and vaccines are needed to reduce emissions.
It's interesting to see the NZ$30 billion NZ Super Fund get serious about investing with climate change in mind. ACC and other big fund managers will take note.
King Salmon shares floated on the stock exchange today, but the debut was tepid at best with only a small rise from the issue price.
The Nadia Lim/Theresa Gattung meal ingredients in a bag home delivery service My Food Bag has secured a new major investor ahead of a planned float.
This content was first released by RadioLive, and is here with permission.
2 Comments
Really is this a joke: According to Reserve Bank figures out this week. It also shows New Zealand's houses were worth 381% of nominal GDP as at the end of June. The US housing market peaked at 210% of GDP in 2007. Remember 2007 was the Global Financial Crash.
Tax Foreign Buyers NOW!!!! It's the only way to fully slow down the market.
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