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Spark New Zealand (ASX:SPK), the largest telecommunications and digital services provider in the country, revised its FY25 guidance, lowering EBITDAI (earnings before interest, tax, depreciation, amortisation, and investment income) to NZ$1,120-$1,180m, with capex reduced to NZ$415-$435m and a dividend cut to 25 cents per share. Spark attributes this move to subdued economic activity, citing weak […]

The Nasdaq Composite reached a new all-time high on Tuesday as investors braced for key corporate earnings releases, including those from several prominent tech companies. The tech-heavy Nasdaq climbed 0.78 per cent, closing at a record 18,712.75. The S&P 500 edged up 0.16 per cent, finishing at 5,832.92. Meanwhile, the Dow Jones Industrial Average lagged,

BP’s shares have dropped to their lowest level since 2022, after the company reported a sharp reduction in profit in its third quarter 2024 results. Shares are currently down 4.3% at £3.82.on the London Stock Exchange. The British energy giant reported a replacement cost profit — its proxy for net profit — of US$2.3bn for July

HSBC’s third-quarter results have exceeded expectations, propelling its shares to a six-year high. Shares are currently 3.71% higher at 717.8 pence on the London Stock Exchange. The London-based bank, which derives most of its earnings from Asia, reported a pre-tax profit of US$8.5bn — a 10% increase year-on-year — surpassing analyst forecasts of US$7.6bn. This

Spot gold is trading at a record high of US$2,769.61 per ounce (surpassing a previous record of US$2757.22, set on 23 October this year). The latest Job Openings and Labor Turnover Survey (JOLTS) for September showed a sharp drop in job openings to 7.44 million, down from August’s 8.04 million, and well below forecasts of

Dr Shane Oliver, Head of Investment Strategy & Chief Economist at AMP, discusses valuations. Key pointsStarting point valuations – like yields and price to earnings ratios – are key drivers of medium-term investment returns.Valuation starting points for term deposits and bonds have improved. For shares they suggest constrained return potential, particularly from US shares but

At its AGM today, Credit Corp Group Limited (ASX:CCP) laid out a recovery-focused strategy after a turbulent year, marked by a 44% drop in net profit after tax (NPAT) to $50.7m and a reduction in shareholder dividends. The company’s share price closed the fiscal year lower than where it began, a reflection of persistent challenges,

Resolute Mining (ASX:RSG) faced a challenging Q3 FY24, with gold production reaching 85,043 ounces — 6% below the previous quarter due to extreme rainfall at the Syama and Mako mines. Year-to-date revenue stood at $1.95bn, a decline from $2.21bn during the same period in 2023, reflecting broader challenges in the gold market. Syama in Mali

Vicinity Centres (ASX:VCX) held its annual general meeting today. The retail property group, which manages $23bn in assets across Australia, highlighted its strategic portfolio enhancements, robust occupancy levels and positive leasing metrics. During FY24, Vicinity acquired a 50% stake in Lakeside Joondalup in Western Australia and full ownership of Chatswood Chase in Sydney. “These acquisitions

Bitcoin has once again surged beyond US$70,000, marking a comeback after months of volatility, although it is now trading around US$69,800. This is the first time since June that the cryptocurrency has surpassed this threshold, driven by renewed interest in recently approved exchange-traded funds (ETFs), which have provided a regulated path for institutional investors to