Fletcher Building Chairman Quits

Author

Toby Brown
March 05, 2024

Good Morning,

Wellington port company CentrePort lifts half year profit, Inflation risks keep the RBNZ alert, Haiti declares state of emergency after double jailbreak allows thousands of inmates to escape, Bhagwan Marine starts IPO preparations seeking a market capitalisation of A$250 million, Snow is nonstop in California’s Sierra Nevada as major highway stays closed

Let's jump in.

Before The Bell

Markets

  • Rate cut bets ramp up as traders price US slowdown (AFR)

  • China buys hefty amount of foreign grain as global prices slump (BBG)

  • Oil nudges higher after OPEC+ extends output cuts (RT)

  • Tech sends asian stocks higher ahead of China meet (BBG)

Earnings and Data

  • Wellington port company CentrePort lifts half year profit, warns of tough times ahead (NBR)

News Summary

  • Inflation risks keep the RBNZ alert (NBR)

  • Fletcher chair quits early (NBR)

  • Public sector placements down 15% (NBR)

  • Government to take $550m from public transport for 'pothole prevention' (Stuff)

  • Silvermoon Jewellers going into liquidation (Stuff)

  • Southland data company T4 Group expands further into Auckland (Stuff)

  • Two major banks reveal more interest rate cuts (Stuff)

    -ASB will drop its one-year rate by 10 basis points, to 7.29% & Its two-year rate drops by four basis points, from 6.89% to 6.85%.

    -ANZ reduced its one-year rate by 15 basis points, its 18-month by 26 and its two- and three-year rates by 10 basis points. That brings the one-year special rate to 7.24% and the 18-month special to 6.89%.

  • Planning begins for 'possible' visit by King Charles III to Australia this year (9 News)

  • Haiti declares state of emergency after double jailbreak allows thousands of inmates to escape (Guardian)

  • Germany accuses Russia of waging an ‘information war’ after alleged military leak (Guardian)

  • Snow is nonstop in California’s Sierra Nevada as major highway stays closed (Guardian)

Deal Flow

Investments / M&A

  • Dutch pension fund ABP aims for $32.5 bln in 'impact' investments by 2030 (RT)

  • Saba Capital widens out Aussie hit list (AFR)

  • J-Power taps MacCap, Minters to Skip-proof Genex Power bid (AFR)

Equity Raises

  • Bhagwan Marine starts IPO preparations seeking a market capitalisation of A$250 million. (AFR)

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