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.
Unlocking Financial Harmony: Navigating the Symphony of Life with Mindfulness
In the hustle and bustle of daily life, the concept of mindfulness often finds its place in discussions about mental health and stress reduction. However, its impact on financial wellbeing is a hidden gem worth exploring.
Research from the New Zealand Retirement Commission’s Money Matters 2025: The Power of Emergency Savings report highlights growing financial pressure among New Zealanders. The findings show that 56% of participants feel financially uncomfortable, while only 44% report feeling financially comfortable. Financial concerns are also increasing on a year-on-year basis, with 42% of people worried about managing finances from pay to pay this year, compared with 40% last year.
9 Financial Habits Of Successful People
Discover the secrets to financial success as we delve into the nine key habits practiced by prosperous individuals. From continuous learning and strategic investment to smart spending and insurance protection, this article offers invaluable insights to empower you on your journey towards financial freedom.