Latest / Best of Business / Shane Solly: Harbour Asset Management expert on oil prices rising as a result of the Middle East conflict

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Shane Solly: Harbour Asset Management expert on oil prices rising as a result of the Middle East conflict · Best of Business

• 0:09
  Speaker 1: You're listening to a podcast from news Talk zed Be
• 0:12
  Speaker 1: follow this and our wide range of podcasts now on iHeartRadio.
• 0:16
  Speaker 2: Shane Sally Harbor Resset Managements with Us. Hello, Shane, Hey, Heather, Right.
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  Speaker 2: How are the investment markets reacting to the weekends around
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  Speaker 2: related actions?
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  Speaker 3: Yeah, it's been a bit of a rocky, rocky start
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  Speaker 3: that Wesson seen a risk off Ton today reflecting this
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  Speaker 3: diverging messaging from Iran as well in the US over
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  Speaker 3: the weekend. Up just breaking it down, we saw the
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  Speaker 3: oil pricess mornings by one hundred and forty dollars fifty
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  Speaker 3: that's for print per barrel. Since she's falling back to
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  Speaker 3: BET one hundred and thirty now, which is where Friday's
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  Speaker 3: close was, so then move there. Locally, big moves have
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  Speaker 3: been in the New Zealand tenure government bond years. We've
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  Speaker 3: seen them increase zero point one it's almost a four
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  Speaker 3: point nine percent, which is a one year high. A
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  Speaker 3: little bit about this global risk and a little bit
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  Speaker 3: about the credit rating agency changes last week from Fitch.
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  Speaker 3: Perhaps you own shear market down zero point seven to
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  Speaker 3: seven zero point seven percent today, driven by six companies
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  Speaker 3: such as main Fa or when he bort future building,
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  Speaker 3: but we're actually else with our head. We've seen the
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  Speaker 3: Japanese market down more than three percent today and US
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  Speaker 3: futures it's suggesting the US market will be down about
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  Speaker 3: zero point three percent.
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  Speaker 2: How did the market react to the profit results from
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  Speaker 2: from Fonterira ands, They.
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  Speaker 3: Yeah, pretty good. Actually, Fonterira's result was with strong food
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  Speaker 3: services and the ingredients performing really well. We actually saw
• 1:32
  Speaker 3: the management team of Frontier upgrade earnings forecast for the
• 1:35
  Speaker 3: full year to between fifty to sixty five cents. They
• 1:38
  Speaker 3: boosted dividends. They've given us a special dividence of sixteen cents.
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  Speaker 3: Confirmed that that two dollars payout this year is going
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  Speaker 3: to come to on April fourteenth. That'll be a well
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  Speaker 3: welcomed beast for parts US in an economy. They did
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  Speaker 3: warn about the Middle East conflict having impact on supply
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  Speaker 3: chains and just being wary of inmentary and costs. But
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  Speaker 3: the Fonteriership ros up two point four percent to eight
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  Speaker 3: dollars forty three to day sin they are pre guided
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  Speaker 3: weak result for the first half, cash outflows and rising debt.
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  Speaker 3: They have been the debt relief coming through with this
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  Speaker 3: abbot asset sale and they're making progress on their deal
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  Speaker 3: where they two to improve change manufacturing and US fifty eight.
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  Speaker 3: So the similar ship PO is actually a nice bounce
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  Speaker 3: up three percent to fifty cents per year.
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  Speaker 2: Okay, Now, Anna Bremen is speaking at the Business New
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  Speaker 2: Zealand Forum tomorrow. What are the markets pricing in for
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  Speaker 2: the OCR.
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  Speaker 3: Yeah, look, it's a it's an important speech by government. Bremen.
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  Speaker 3: Obviously the focus has changed in terms of the potential
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  Speaker 3: impacts the involved in Middle East situation. That's what the
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  Speaker 3: new speech is for. The Rby has been really careful
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  Speaker 3: to say this is not premting the Manasty Policy Committee
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  Speaker 3: meeting in April. But you know, the markets are now
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  Speaker 3: pricing and the Reserve Bank news on official overnight cash
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  Speaker 3: rate to be increased by one point three percent to
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  Speaker 3: three point five to five percent by March twenty seven,
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  Speaker 3: so within twelve miles the markets expecting official cash rates
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  Speaker 3: to be above three and a half percent. Now, when
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  Speaker 3: we look at it, your economy has surplus comparnities, the
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  Speaker 3: unemployment rate it's above average, So maybe the RBUS can
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  Speaker 3: take more visited approach. But markets are certainly putting a
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  Speaker 3: bit of an increase in here.
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  Speaker 2: Very interesting. Hey, thanks very much. Shane has always Shane
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  Speaker 2: solely Harborreset Management.
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