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Speaker 1: Bryant Bridge twenty one minutes after six, Shane Solly's here

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Speaker 1: Harvest Asset Management to talk about the market. So today

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Speaker 1: the trade wars lots to talk about Shane good evening.

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Speaker 2: Yeah, get ay right.

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Speaker 1: So we've got these twerffs twenty five percent for Canada, Mexico,

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Speaker 1: ten percent for China. How the market's reacted?

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Speaker 2: Yeah, look, yeah, sual announcement of the terriffs a little

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Speaker 2: bit of abortunity. Market investors have been anticipating some of this,

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Speaker 2: So the initial reactions are actually been pretty modest. The

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Speaker 2: US SHI market was down half a percent, Uistolla actually

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Speaker 2: was quite strong. Oil price up and US bawns up

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Speaker 2: pu IT. But we're actually seeing overnight there's a bit

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Speaker 2: more reaction to come. When I look at the futures,

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Speaker 2: I can see what markets are anticipating is a bit

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Speaker 2: more weakness coming through. So yet to see. We're seeing

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Speaker 2: a bit of reaction from some of the other countries

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Speaker 2: that are involved as well. So it's a pretty fast

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Speaker 2: evolving story.

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Speaker 1: And what's been the impact specifically on New Zealand companies,

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Speaker 1: especially Fisher and Parkle.

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Speaker 2: Yeah, look, we're not directly exposed. We are exposed to

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Speaker 2: a tip better between the US in China in particular,

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Speaker 2: and then there's this ten percent universal tariff that the

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Speaker 2: US governments still told them about. What we're really seeing

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Speaker 2: is our US dollar. Cross has done all the hard work, lind.

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Speaker 2: We've seen the New Zealand dollar back to fifty five

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Speaker 2: since and a half, so it's going to make those holidays.

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Speaker 2: So the U is very expensive, good good for people

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Speaker 2: coming down. We've seen now on New Zealand here make

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Speaker 2: it down one point four percent, and that has predominantly

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Speaker 2: been driven by Fisher and bi cale healthcare's weakness, and

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Speaker 2: I think you know what we've got to keep an

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Speaker 2: eye is really this ten percent tariffs that would hit

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Speaker 2: a wider range of economy. Dairy, meat, wine, all those

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Speaker 2: types of things would be knocked around by that ten percent.

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Speaker 2: But on the day, it's all about Fisher and Bible.

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Speaker 1: We had a couple of another and a couple of

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Speaker 1: other announcements I should say today Feature Building, sky Stady,

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Speaker 1: what did you make of them? A new chair for

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Speaker 1: Feature Yeah.

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Speaker 2: Look, we've seen Peter Crowley appointed as chair. He's been

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Speaker 2: on the board for a little while, and we've also

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Speaker 2: seen the ex Bunning's boss, Jackie Coombs adds in the punit.

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Speaker 2: I think this is hopefully the start of the business

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Speaker 2: being able to refocus on rebuilding itself. You know, we've

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Speaker 2: got Barbara Chapman, she's stepping down Flintchy Building. Ship price

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Speaker 2: on the day up slightly to two dollars eighty eight.

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Speaker 2: Sky City agreed to pay Izzie thirty eight million to

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Speaker 2: set a long running dispute with the South Australian Treasury,

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Speaker 2: so that really is a good resolution. It gets rid

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Speaker 2: of a sort of an overhand for it. I think

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Speaker 2: we're going to keep focusing on push on Pive were

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Speaker 2: as care for a while. The stock price was down

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Speaker 2: almost seven percent today, back with thirty five dollars and

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Speaker 2: ten Since we don't know exactly how long the tariffs

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Speaker 2: stay on, the company came out today and said, hey,

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Speaker 2: look we're okay for twenty twenty five, but if these

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Speaker 2: tariff's saying we're going to have to change where we produce,

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Speaker 2: they're going to bring more product back to New Zealand.

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Speaker 2: And of course at the moment the zelond production is

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Speaker 2: not getting hit with the tariff, and that would help,

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Speaker 2: that would reduce the impact, but still might see earnings

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Speaker 2: down five percent, so the market reacted to that risk

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Speaker 2: anywhere between five to ten percent downside to earnings. Share

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Speaker 2: price was down in reaction to that risk.

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Speaker 1: Same thanks for that solid harbor Raset Management. For more

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