Market & Portfolio Update – September 2024
The US equity markets ended the month +0.1%, ending the quarter up +1.8%. During September, the US Federal Reserve followed many other central banks and cut interest rates. Growing confidence that inflation is heading to 2% has allowed many central banks to reduce interest rates in the past few months.
China cut interest rates and signalled that it would follow up with additional stimulus aimed at stabilising its property sector and spurring consumer spending. The Chinese share market and many global companies exposed to the Chinese economy rose after the stimulus announcement.
The New Zealand Stock Exchange (NZX) had a busy month with two large listed companies announcing substantial capital raises. Fletcher Building announced a $700 million equity raise to help manage its debt. Meanwhile, Auckland International Airport announced a $1.4 billion capital raise to support the construction of its new domestic jet terminal, making it the largest equity raise in NZX history.
Market & Portfolio Update: August 2026
Global share markets pushed higher in August. The MSCI World Index, a broad measure of companies across developed markets, rose 1.9% in NZ dollar terms, helped by a solid company earnings season and continued enthusiasm around artificial intelligence.
Lifetime Book Club: Remarkably Bright Creatures by Shelby Van Pelt
What can an unlikely friendship teach us about connection, curiosity and the things we sometimes fail to see in one another?
Remarkably Bright Creatures by Shelby Van Pelt is a warm and thoughtful novel about friendship, loss, family, and finding connection in unexpected places.