Latest / Best of Business / Shane Solly: Harbour Asset Management expert on the US share markets dropping last week

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Shane Solly: Harbour Asset Management expert on the US share markets dropping last week · Best of Business

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  Speaker 2: sholds apply twenty past six. Shane Soli Harbor Asset Managements
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  Speaker 2: with US. Hey Shane, Hello, Heather, what happened to the
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  Speaker 2: investment markets?
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  Speaker 3: We've seen a bit of a pullback. It was a
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  Speaker 3: bit softer retail sales in the US on Friday night
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  Speaker 3: and also this ongoing straight so Home's oil price pressure
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  Speaker 3: is kicking back through with the US threatening to put
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  Speaker 3: more sanctions on. So it did see US bond yards
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  Speaker 3: go up a little bit on Friday. That increases the
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  Speaker 3: hoodle we all need to invest in newest shear market
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  Speaker 3: pullback and we kind of followed suit today, but we're
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  Speaker 3: probably creating our own issues at the moment. We're right
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  Speaker 3: in the middle of a very busy company profit reporting
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  Speaker 3: seas is sort of peak for untility. About twelve companies
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  Speaker 3: this week boarding sixty in Australia today. The AUSSI shar
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  Speaker 3: market down quite strongly. A couple of companies talking about
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  Speaker 3: the slow and Aussie economy heading there their outlook for
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  Speaker 3: next year. JB high Fire that ship Rice down and
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  Speaker 3: almost twelve percent today and even heavyweight national Australia Bank.
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  Speaker 3: The share price down five percent today. Here in New Zealand,
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  Speaker 3: we were dragged back by a bit of weakness and
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  Speaker 3: A two. So yeah, we weren't immune.
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  Speaker 2: What happened to the A two share price today.
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  Speaker 3: Yeah so too. The actual result was actually okay. It
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  Speaker 3: was all about profit guidance for next year and very
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  Speaker 3: much the company is still dealing with the residual impacts
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  Speaker 3: of the supply chain issues they had earlier this year
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  Speaker 3: where they had to change in from formula composite to
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  Speaker 3: meet new Chinese requirements. Ateen management said they're expecting in
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  Speaker 3: mid single digit revenue growth and a profit margin around
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  Speaker 3: fifteen percent. That was below market expectations, so the ships
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  Speaker 3: sort a bit of the pullback the guidance. Maybe it's
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  Speaker 3: a little bit conservative from the company. They are on
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  Speaker 3: track with their recovery plan, they're on top of the
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  Speaker 3: supply chain and it's been in a strong financial position.
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  Speaker 3: It's just about how long it takes to get marketshied back.
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  Speaker 3: One other thing, hither the ATM management team, they wouldn't
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  Speaker 3: be drawn on rumors at A two and Frotierra were
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  Speaker 3: going to the look at taking over and they weren't
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  Speaker 3: going there.
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  Speaker 2: Yeah, that was quite an interesting thing that happened to
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  Speaker 2: I'm go I might deal with that in a SEK
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  Speaker 2: just on freightways. So Freightways had a result that didn't
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  Speaker 2: look that bad, and again the share price was down line.
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  Speaker 3: Yeah, your bang line good in line with nick market expectations,
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  Speaker 3: but pretty cautious commentary. They talked about our management talked
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  Speaker 3: about another year of softer for longer than initially expected.
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  Speaker 3: They talked about similar customer volumes here in using maybe
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  Speaker 3: att of a pullback in Australia, and we're on they
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  Speaker 3: were only expecting a recovery when we saw fuel prices
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  Speaker 3: fullbacks on a sustained basis. And they've got some really
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  Speaker 3: great growth opportunities in the business, so they might be
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  Speaker 3: able to outgrow this slight economy, but they'll have to
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  Speaker 3: work hard.
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  Speaker 2: Yeah, hey, thank you very much. As always, Shane appreciate it.
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  Speaker 2: Shane sold Harbor Asset Management.
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