Market & Portfolio Update - November 2025
After very strong gains through the year, the global share market (represented by the MSCI World Gross Index) took a breather in November, returning 0.1% in NZ dollar terms. Although the longest US government shutdown, lasting 43 days, ended in the middle of the month, market uncertainty regarding the ambiguous data environment, the impact on growth and the progress of monetary policy weighed on investors.
The third-quarter earnings season concluded in November and confirmed the strong earnings trend from the previous quarter. In the US, 81% of companies in the S&P 500 (an index of the 500 largest publicly traded US companies) beat consensus earnings.
Excellent quarterly results from the world’s largest publicly listed company, Nvidia, failed to allay concerns about high valuations and fears of overly optimistic profit expectations surrounding the artificial intelligence ecosystem.
The OCR was cut to 2.25% as expected by the market; however investors were surprised by the RBNZ’s OCR trajectory, which implied a low probability of a further rate cut.
This article is for general information purposes only and does not constitute financial advice. The content is based on information current at the time of writing and may be subject to change.
Lifetime Group Limited is a licensed Financial Advice Provider. For advice specific to your situation, please speak with a Financial Adviser. You can view our Disclosure Statement here.
All investments involve risk and are not guaranteed. Any examples or projections are for illustration only and should not be relied on as advice.
Financial Planning: Mapping Out Your Financial Goals
When was the last time you sat down and not only set some goals, but mapped out the best way to ensure they are achieved? Goal modelling is more than just financial planning - it’s a roadmap to achieving what truly matters to you. It’s getting answers on what you could be achieving in life, and the best way to get there.
At Lifetime, we go beyond just the numbers to understand your life stages, your aspirations and your personal values.
Staying Cyber Smart
At Lifetime, looking after your financial wellbeing includes helping you stay safe online. Lately, we’ve seen an increase in online scam attempts across the financial sector here in New Zealand, so we thought this was a good time to share a few friendly reminders on how you can stay protected.