Latest / Best of Business / Shane Solly: Harbour Asset Management expert on Spark announcing strategic review of digital services

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Shane Solly: Harbour Asset Management expert on Spark announcing strategic review of digital services · Best of Business

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  Speaker 1: You're listening to a podcast from news Talk zed B.
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  Speaker 2: And here are the numbers for today. Let's go to
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  Speaker 2: the markets. NZIX fifty was up almost half a percent today,
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  Speaker 2: the A six fifty up one point two one percent
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  Speaker 2: so far today. Barrel of brink crude cost you right now.
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  Speaker 2: Ninety one US bucks are barreled down seven percent today.
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  Speaker 2: One New Zealand dollar currently worth fifty eight cents, eighty
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  Speaker 2: three Australian fifty one euro, forty three UK pence and
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  Speaker 2: ninety five yen. It's got a Shane Solly, Shane. Good evening,
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  Speaker 2: Hello Ryan. So what did the Shear market make of
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  Speaker 2: the changes announced by Spark today?
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  Speaker 3: Yes, Sparks come out with a change in the organization
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  Speaker 3: and structure day, splitting the company into its connectivity operations
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  Speaker 3: that seems like mobile telephone and into digital services seems
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  Speaker 3: like it's cloud ninety services businesses. They also announced a
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  Speaker 3: strategic review of the digital services business Ryan, and then
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  Speaker 3: appointed an advisor. So that's a logical step and assessing
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  Speaker 3: how to maximize the value of their business and increase
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  Speaker 3: returns for Shielders. But we think they're constructive. It's a
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  Speaker 3: constructive first step, but you know, there's a long way
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  Speaker 3: to go in this market's really continuing to look at
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  Speaker 3: for governance changes its spark. Perhaps the most positive from
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  Speaker 3: today's announcements was that the company actually maintained its profit guidance.
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  Speaker 3: There was a positive given risk around the slower economy.
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  Speaker 3: Is a Sparkshire price ended up the day three point
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  Speaker 3: seven percent, up to a dollar ninety five, So nice
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  Speaker 3: little pop.
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  Speaker 2: Now markets reacting quite positively to the talks between the
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  Speaker 2: US and Iran. Well, resumption of talks and the price
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  Speaker 2: of war has come down.
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  Speaker 3: Yeah, that's right, and I think you picked up before
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  Speaker 3: that sort of five to six percent drop, and oil
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  Speaker 3: prices today were back below ninety two dollars, still very
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  Speaker 3: high relative to who we are, but it's you know,
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  Speaker 3: it's helpful. Look what we're saiding investment markets were becoming
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  Speaker 3: increasingly cautious as those oil prices have gone up more
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  Speaker 3: than thirty percent over the last month. So this pullback
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  Speaker 3: has actually put a little bit of a relief rally
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  Speaker 3: into markets today. We've seen a bit of an improvement,
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  Speaker 3: perhaps you know best best marked by the New Zealand
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  Speaker 3: tenure Gama bond yield that hit four point seven nine
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  Speaker 3: percent on Friday. It's closed at four point seven doesn't
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  Speaker 3: sound like a lot, but that's a good move you
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  Speaker 3: see on shar market, as you say, of about half
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  Speaker 3: a percent, driven by Orkland Airport, Fisher and Pikewin Spark.
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  Speaker 3: But we've seen Asia Pacific wise, Australia, Chinese market serup
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  Speaker 3: one point four percent. And in terms of futures markets,
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  Speaker 3: we're seeing the U s Shiar market suggesting future suggesting
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  Speaker 3: that the US market will be up more than a
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  Speaker 3: percent tonight.
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  Speaker 2: It's almost a fifty to fifty called this right hike
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  Speaker 2: in the US, isn't it?
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  Speaker 3: Yeah? Indeed, indeed, yeah, you know. So we're on Wednesday.
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  Speaker 3: We've got a bit of a sixty percent chance is
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  Speaker 3: what's baked in right now from markets forty percent chants
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  Speaker 3: of our hike, sixty percent chance of nothing on hold. Obviously,
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  Speaker 3: the FID is very focused on inflation and energy price
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  Speaker 3: pass through. We're still learning about this new fed Ryan.
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  Speaker 3: The markets are going to focus on what Chair Kevin
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  Speaker 3: Walsh sees how guides around inflation, growth and future policy paths.
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  Speaker 3: We've also got the Bank of England and the Bank
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  Speaker 3: of Japan delivering rates announcement this week. They're both expected
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  Speaker 3: to be on hold, so it's all about the words.
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  Speaker 3: As we know.
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  Speaker 2: Shane, Sally Harbor, ested management, good TV. You on the
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  Speaker 2: show is always Shane.
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