Latest / Best of Business / Shane Solly: Harbour Asset Management expert on the market reactions to the possible US-Iran negotiations

Transcript

Shane Solly: Harbour Asset Management expert on the market reactions to the possible US-Iran negotiations · Best of Business

• 0:09
  Speaker 1: You're listening to a podcast from News Talks. They'd be
• 0:12
  Speaker 1: follow this and our wide range of podcasts now on iHeartRadio.
• 0:16
  Speaker 2: And Shane Sally Harbor Asset Management is with us. Hello,
• 0:19
  Speaker 2: Shane good Aheather. How have the markets reacted to news
• 0:22
  Speaker 2: that the negotiations may be back on and that we
• 0:24
  Speaker 2: may have the strips ships going through the Strait?
• 0:27
  Speaker 3: Well, look, oil has studios you've talked about, but treys
• 0:30
  Speaker 3: are really questioning whether the workability of this planet.
• 0:33
  Speaker 4: Mister Trump's put forward about guiding.
• 0:35
  Speaker 3: Ships through the Straits or mez, particularly with this tanker
• 0:38
  Speaker 3: reportedly head today. As you noted the Brent oil process
• 0:41
  Speaker 3: pulled back, you know something was up at one hundred
• 0:43
  Speaker 3: and eighteen dollars last week, so a bit of a
• 0:45
  Speaker 3: pullback from there, but you know, we yet to see
• 0:48
  Speaker 3: this Trump energy bonus coming through. Iran is actually starting
• 0:52
  Speaker 3: to curb oil production because storage tanks are full, local
• 0:57
  Speaker 3: markets are pretty quiet most.
• 0:58
  Speaker 4: Of the day.
• 0:58
  Speaker 3: Ten you government by and yield down sort of just
• 1:01
  Speaker 3: zero point three percent to four point six percent. As
• 1:05
  Speaker 3: you know that the New Zealandshire marker was up on
• 1:06
  Speaker 3: the day lid right end of the day by strength
• 1:09
  Speaker 3: and Fisher and Bugloski Orcan Airport and the Frattil So
• 1:12
  Speaker 3: a bit of a late rally features suggested the US
• 1:15
  Speaker 3: market will be up slightly tonight.
• 1:16
  Speaker 2: Okay, now, explain to me why the A two share
• 1:19
  Speaker 2: price is so weak today.
• 1:21
  Speaker 3: Yeah, so A two milk the ship prices down nine
• 1:24
  Speaker 3: and a half percent. The company annow it's launched a
• 1:26
  Speaker 3: voluntary recall of three batches of its US labeled A
• 1:29
  Speaker 3: two platform and from formula product after detecting cereal a ride.
• 1:34
  Speaker 4: I can't even pronounce that.
• 1:35
  Speaker 3: Well, a toxin that's related to food borne illness and
• 1:38
  Speaker 3: products sold to the US. Look, there's been no illnesses
• 1:41
  Speaker 3: reported and there's absolutely no impact on the Chinese and
• 1:44
  Speaker 3: other key markets. But this contamination is identified through testing.
• 1:49
  Speaker 3: That's additional testing. It's been required by Chinese authority through
• 1:53
  Speaker 3: the New Zealand Ministry for Primary Industry.
• 1:55
  Speaker 4: So fantastic they've caught it.
• 1:57
  Speaker 3: It's a voluntary recall, it's about three batches. It's actually
• 2:00
  Speaker 3: not a big deal in to the revenue at this stage.
• 2:04
  Speaker 3: The US piece four A two, but the question mark
• 2:06
  Speaker 3: that markets are focused on is Chinese brand damage and
• 2:09
  Speaker 3: the potential is more to come late this afternoon in
• 2:13
  Speaker 3: New Zealand time.
• 2:14
  Speaker 4: The Chinese government actually published an acknowledgment of the recall, and.
• 2:18
  Speaker 3: Chinese customers have said, look, that product has not come
• 2:20
  Speaker 3: into China, that US product never made its way, and
• 2:23
  Speaker 3: so yeah, Mark was pretty weary about the announcement early on.
• 2:26
  Speaker 4: It was down thirteen and fourteen percent at one stage.
• 2:29
  Speaker 2: Shane, thanks for running us through it. We'll talk to
• 2:30
  Speaker 2: you next week. Look after yourself, Shane Soli, Harbor Asset Management.
• 2:34
  Speaker 1: For more from News Talks b listen live on air
• 2:37
  Speaker 1: or online, and keep our shows with you wherever you
• 2:39
  Speaker 1: go with our podcast on iHeartRadio