Latest / Best of Business / Shane Solly: Harbour Asset Management expert on the market reactions to the 'no deal' announcement on the Middle East conflict

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Shane Solly: Harbour Asset Management expert on the market reactions to the 'no deal' announcement on the Middle East conflict · Best of Business

• 0:09
  Speaker 1: You're listening to a podcast from News talks'd be follow
• 0:12
  Speaker 1: this and our wide range of podcasts now on iHeartRadio.
• 0:17
  Speaker 1: Heather duel Clive.
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  Speaker 2: The numbers INSIDEX fifty up zero point two seven percent today,
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  Speaker 2: A six fifty down zero point six eight percent so
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  Speaker 2: far today, A barrel of Brent crude oil is now
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  Speaker 2: costing one hundred and five US dollars. That's up four
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  Speaker 2: percent just today. One New Zealand dollar is worth fifty
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  Speaker 2: nine US cents, eighty two Ozzie cents, fifty one eurosents
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  Speaker 2: forty four UK pence in ninety three en. It's nineteen
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  Speaker 2: past six and Shane Sally Harbor Asset Management is with
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  Speaker 2: us Allo. Shane, Hey here that well, I can see
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  Speaker 2: how the price of oil reacted to the no deal announcement.
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  Speaker 3: Yeah, look we're getting used to this of no Warpece
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  Speaker 3: Middle East conflict, but yeah, we did see the oil
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  Speaker 3: prices traded down late last week. Has had bond yields
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  Speaker 3: on the basis that we're coming into potential for a
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  Speaker 3: piece office. So this latest rejection by mister Trump sending
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  Speaker 3: the market's taking a little bit of negatively. In Asia,
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  Speaker 3: pac marketsdown except for China, which is actually up on
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  Speaker 3: to the patient of this positive summit that's coming up
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  Speaker 3: between China and US. Locally, As you said, our sheer
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  Speaker 3: market actually had a bit of a balance, but it
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  Speaker 3: actually traded lower all day, probably the call out there
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  Speaker 3: was in for to all up to an all time
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  Speaker 3: high of fifteen dollars seventy three. Quite stunning that stock
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  Speaker 3: with st or ten bucks probably six months ago. Futures
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  Speaker 3: US future is what the markets are indicating, and they'll
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  Speaker 3: be down slightly tonight, but I will let's just wait
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  Speaker 3: and see on that one. Now.
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  Speaker 2: I see Pacific Edges announced to Capital Race today. What
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  Speaker 2: are they going to use the money for?
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  Speaker 3: Yeah, a specific edge. It's cancer detection monitoring, particularly prostate cancers.
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  Speaker 3: They've raised or twenty four million dollars seventeen cents per year.
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  Speaker 3: That's about two percent below where it closed on Friday.
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  Speaker 3: The money is being used to get the business ready
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  Speaker 3: to get US Medicare coverage again. US Medicaire is obviously
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  Speaker 3: government insurance package, and so they've been working to get
• 2:01
  Speaker 3: reimbursement for its tests for the doctor and use their
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  Speaker 3: test and government pays for the test. So that's been
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  Speaker 3: a big deal. They're getting closer to getting that approval,
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  Speaker 3: and if they do then that they're expecting something before September.
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  Speaker 3: So yeah, they've raised some capital to get their business
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  Speaker 3: ready to go in terms of sales team and production
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  Speaker 3: and so forth.
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  Speaker 2: How does the market react, by the way, to rocket
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  Speaker 2: Lab last week.
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  Speaker 3: Yeah, see, we were priced blasted off. It was up
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  Speaker 3: thirty four percent on Friday to one hundred and five
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  Speaker 3: dollars US or slightly more of that. And I think
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  Speaker 3: there's a few things behind that. The beat revenue expectations.
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  Speaker 3: That are revenues up sixty percent plus year a year.
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  Speaker 3: But what they talked about is they've got a two
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  Speaker 3: point two billion dollar pipeline of potential launches to go.
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  Speaker 3: They've guided to revenue for the second quarter between ten
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  Speaker 3: hundred and twenty five million US to two forty in US.
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  Speaker 3: That's well ibove the expectations of two in a mill
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  Speaker 3: and they sign a massive contract. They obviously can't tell
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  Speaker 3: us who it is, but it's the biggest ever in
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  Speaker 3: so Peter Beck, he's pretty abiliant on the analyst call.
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  Speaker 3: Demand signal was clear, and he's talking about their relentless
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  Speaker 3: launch process they're going through to meet that requirement. So yeah,
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  Speaker 3: pretty positive from the rocket Lab team.
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  Speaker 2: Yeah good Shane, Thank you very much, appreciate it. Shane, Solly,
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  Speaker 2: Harbor Asset Management.
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