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Speaker 1: Ryan Bridge nineteen after six News Talk c e B

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Speaker 1: chained solies with a harbor asset management, Shane good evening,

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Speaker 1: get a Ryan great to have you on, Hey good day.

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Speaker 1: For a two their share price was it almost twenty

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Speaker 1: percent today? Up?

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Speaker 2: Yeah, that's right. It was a real ripper, and it's

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Speaker 2: about it's been a tough run for a two. They've

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Speaker 2: probably been battling a really modest Chinese and they're keeping

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Speaker 2: is in for formula being sold into China. They beat

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Speaker 2: expectations pretty handling more than ten percent above expectations, really

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Speaker 2: driven by better revenue and margin, and they're upgraded for

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Speaker 2: next year as well, and they've talked about a dividend,

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Speaker 2: So you're really about them doing their thing, picking up

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Speaker 2: share in the Chinese info formula market. Those Chinese birth

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Speaker 2: rates still yet to show recovery, and they talked about

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Speaker 2: being on track to be making two billion dollars by

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Speaker 2: twenty twenty six with their new product launches and supply

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Speaker 2: chain improvement. So yeah, market got pretty excited up just

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Speaker 2: under twenty percent.

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Speaker 1: Mixed results from the electricity generators. Is this the you know,

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Speaker 1: the price fights and the wholesale rates, the impact of

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Speaker 1: dry weather.

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Speaker 2: Yeah, look, you've knowed it. Today was very much about

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Speaker 2: both Manowa and Contact Energy came out with some of

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Speaker 2: little below expectations that was about this dry weather and

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Speaker 2: impact on generation, and so we have seen both companies

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Speaker 2: come out with yes guidance for Contact that was saying

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Speaker 2: financial year twenty k twenty six, we're going to be

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Speaker 2: a little bit sort of more cautious. So maybe a

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Speaker 2: bit of conservatism, but certainly that dry weather we've been

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Speaker 2: seeing coming back to buy.

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Speaker 1: Share prices for I mean, this is the problem, isn't

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Speaker 1: it If your company, if your business is exposed to

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Speaker 1: the New Zealand economy, you know you have been in

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Speaker 1: a bit of trouble.

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Speaker 2: Yeah, it has been tough, but we're actually seeing a

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Speaker 2: number of companies starting to talk about green shoots. We

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Speaker 2: saw this last week with Bulk and Steel, when today

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Speaker 2: we've had Freightways come out with a similar comment that

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Speaker 2: you know, while things have been tough, they're seeing things

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Speaker 2: get less tough. We're seeing a bit of buying for

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Speaker 2: companies that are exposed to New zeal economy, things like Spark,

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Speaker 2: mu Zeum, the Telco, the Telecom mu Zeon, Fletcher Building

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Speaker 2: seeing a bit of a recovery. Some of it's about

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Speaker 2: as say, these better numbers coming from companies recently Freightways

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Speaker 2: of Vulcan, but also anticipating the Reserve Bank statement this Wednesday,

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Speaker 2: where the markets expecting another rate cut. We've seen this before,

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Speaker 2: Ryan back in twenty eight twenty nineteen. Takes New Zealand

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Speaker 2: Mark a little bit of time to respond to rate cups.

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Speaker 1: You know.

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Speaker 2: First that we had to roll is this period of

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Speaker 2: slow ecin on their activity before the lower rates kicking.

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Speaker 2: And we're seeing that now, so we might be seeing

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Speaker 2: the green shoots coming through. They still need to grow

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Speaker 2: a bit to really support company returns, but we're seeing

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Speaker 2: a lot more interests back in New Zealand companies listed

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Speaker 2: on the share market.

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Speaker 1: The share price for several Aussie banks that are listed

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Speaker 1: here on our stock exchange a week today. What's behind that?

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Speaker 2: Yeah, look we saw Duell listed, am Z and Westpac.

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Speaker 2: This share prices is a bit weaker today. So they're

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Speaker 2: listed on the New Zealand market and the Australian market.

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Speaker 2: And what we saw was Westpac released corterly update. There

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Speaker 2: was wicked and expected when it comes back to the

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Speaker 2: profit guidance for this first quarter is not enough to

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Speaker 2: meet expectations. A couple of things behind that hard to

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Speaker 2: believe for some, but their need interest margins were lower

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Speaker 2: than expected, so they're not making as much on their

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Speaker 2: lending as they previously did. And their revenue run rate

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Speaker 2: so the rate of new mortgages and so forth to

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Speaker 2: writing not quite heading expectations there. Only good news really

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Speaker 2: was cost coming in a bit LOWO. So yep, that

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Speaker 2: dragged the banks down and dragged down aims in respect

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Speaker 2: that are listed on the new.

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Speaker 1: Is our market Shane, Thank you so much for that.

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Speaker 1: Great to have you on as always, that is Shane

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Speaker 1: solely Harbor Asset Management with your market update for the seven.

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