Latest / Best of Business / Shane Solly: Harbour Asset Management spokesperson on whether the delayed tariffs on Canada and Mexico will go ahead

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Shane Solly: Harbour Asset Management spokesperson on whether the delayed tariffs on Canada and Mexico will go ahead · Best of Business

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  Speaker 1: You're listening to a podcast from News Talks be follow
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  Speaker 2: Shane Soley, Harbord Asset Managements with Us Shane Good evening, Kay, Ryan,
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  Speaker 2: what is this? You know, this meeting between Trump and
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  Speaker 2: Zolenski and the Pesky jd vance butting in what does
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  Speaker 2: it mean for capital markets? How are capital markets dealing
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  Speaker 2: with the bombs and the surprises?
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  Speaker 3: It was pretty fiery, wasn't it. Well, Look, actually markets
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  Speaker 3: in the US were rattled. Initially. We saw the US
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  Speaker 3: dollar actually go up. That's what happens when people get
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  Speaker 3: worried about risks. They going to a real protected place
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  Speaker 3: to be. And the shoemaker actually as she went down.
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  Speaker 3: But then it had a really good rally and into
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  Speaker 3: the period. So actually the vid all, US dollar up,
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  Speaker 3: US shares up. I guess that this has become a
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  Speaker 3: little bit wary about White House announcements. You know, we
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  Speaker 3: also had mister Trump talking about his new cryptocurrency reserve
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  Speaker 3: that put a little bit of a match under the
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  Speaker 3: bitcoin price, which has gone up eighteen percent. Sins you
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  Speaker 3: talked about that. Yeah, nothing in this part of the
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  Speaker 3: world today. We haven't really reacted to this part of
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  Speaker 3: the world. But people are going to watch really closer
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  Speaker 3: this week about whether there's more discussion about Canada Mexico
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  Speaker 3: tariffs where they're going to be delayed until April, and
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  Speaker 3: whether the Chinese tariffs go up.
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  Speaker 2: Yeah, or even the amount changed right because he said
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  Speaker 2: twenty five percent and then there was an official from
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  Speaker 2: the White House coming out today saying, oh, actually he
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  Speaker 2: may change that from twenty five. A lot to watch,
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  Speaker 2: a lot to watch. What was behind the Warehouse Group
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  Speaker 2: their sheer price down seven percent today?
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  Speaker 3: What was there? We saw a pretty cautious update from
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  Speaker 3: the company. These tough trading conditions they've continued, and a
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  Speaker 3: lot of it's about promotional activity. So basically the companies
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  Speaker 3: having to cut prices and really stimulate sales to try
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  Speaker 3: and get their numbers up. Un Fortunately it's not quite
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  Speaker 3: working their way. Group salers are down for this first
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  Speaker 3: half of twenty five, not as much as people have
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  Speaker 3: been expecting, and they're actually talking about sales, but it's
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  Speaker 3: all about Hey, they've had to cut their prices, getting
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  Speaker 3: their margins back to where they were perhaps pre COVID
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  Speaker 3: more normal levels. Unfortunately, that means the next half is
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  Speaker 3: looking pretty soft for the warehouse, and in fact their
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  Speaker 3: numbers are going to look quite a lot lower than
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  Speaker 3: whether the capital market expected. As a result, we've seen
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  Speaker 3: this the chair price come off quite quite soundly to day.
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  Speaker 2: In contrast to that we've had Pacific Edge. The price
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  Speaker 2: is a strong recovery over the last couple of days
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  Speaker 2: on some positive news.
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  Speaker 3: Yeah. Look, the American Neurology Eurology Association actually amended their
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  Speaker 3: guidelines to say that Pacific Edge is sex bladder Trioch test.
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  Speaker 3: This is for discovering whether you unfortunately have bladder cancer
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  Speaker 3: or otherwise. They said, look, actually this is great, We're
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  Speaker 3: going to put it in our standard of care. And
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  Speaker 3: as a result, this may see specific Edge go back
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  Speaker 3: to the US centers for Medicare Medicaid, it's the major
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  Speaker 3: insurance provider from the government. Recently they said, look, we're
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  Speaker 3: not going to provide insurance, We're not going to cover
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  Speaker 3: the costs of the test anymore. And so the Pacifician
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  Speaker 3: shehap price fell. This actually puts them back in the
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  Speaker 3: game and terms are potentially getting that funding back. So
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  Speaker 3: the sheep price has gone up one hundred and thirty
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  Speaker 3: percent in the last few days to fourteen dollars orf
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  Speaker 3: sorry fifteen cents I should say today. So yeah, big
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  Speaker 3: big pop there on that data very quickly.
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  Speaker 2: The New Zealand shear market generally was down three percent
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  Speaker 2: last month. Why. I mean, obviously Spark hasn't helped us
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  Speaker 2: to the last really while. But what's behind that is
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  Speaker 2: that just a general first half reporting season and being
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  Speaker 2: a bit gloomy.
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  Speaker 3: Yeah, I think there's a combined thing as you're right, Ryan,
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  Speaker 3: there's a global activity in this trader, and certainly we've
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  Speaker 3: just talked about disappointing earnings results that have fed through
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  Speaker 3: the Ernie's downgrades for this current financial year. And also
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  Speaker 3: we had quite a large capital raising by Ryan and
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  Speaker 3: this billion dollar rays we needed to sell things to
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  Speaker 3: fund that. But it wasn't all gloomy. There were green
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  Speaker 3: shoots coming through in a few results. Lower government bond
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  Speaker 3: you was helpful for evaluations, and we might look back
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  Speaker 3: and say somebod the liquidity events around Ryman and even
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  Speaker 3: the CEO Global next changes for contact creating some great
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  Speaker 3: opportunities for long term and vests. But yeah, we've hopefully
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  Speaker 3: seen the base. Ryan. Is probably the best thing we'd
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  Speaker 3: say is we're seeing these green shoots more regularly, Shane.
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  Speaker 2: Thanks for your time, Shane, Sally Harbor Asset Management.
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