ASB Securities Morning Brief
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ASB Securities Morning Brief
Saturday, 18 April 2026
• *New Zealand Headlines* <links.mail.asb.co.nz/els/v2/8wvvFNmy-gfX/b1EwL1FaUzdXakZ5N1g4K0RQN2txQzNqTWtLNXJJU24waHdJSGw4a0tjZmhlOFRnMkk0d0xWeStOL0RXUlJnbnBGZnlvZXZ1TXBuZFFObW95eFpCWGZEUGxBMHFuU3A3T0lITW5BbGNNcVk9S0/ODJFc1ZZR…>
• *Australian Headlines* <links.mail.asb.co.nz/els/v2/pNWWT7ka98CW/b1EwL1FaUzdXakZ5N1g4K0RQN2txQzNqTWtLNXJJU24waHdJSGw4a0tjZmhlOFRnMkk0d0xWeStOL0RXUlJnbnBGZnlvZXZ1TXBuZFFObW95eFpCWGZEUGxBMHFuU3A3T0lITW5BbGNNcVk9S0/ODJFc1ZZR…>
• *International Headlines* <links.mail.asb.co.nz/els/v2/dmzzCAKzZEtY/b1EwL1FaUzdXakZ5N1g4K0RQN2txQzNqTWtLNXJJU24waHdJSGw4a0tjZmhlOFRnMkk0d0xWeStOL0RXUlJnbnBGZnlvZXZ1TXBuZFFObW95eFpCWGZEUGxBMHFuU3A3T0lITW5BbGNNcVk9S0/ODJFc1ZZR…> [image: Ready to start your investment joruney? Join ASB Securities. Call 0800 272 732 to get started.] *New Zealand Headlines*
*New Zealand Market Report:* New Zealand’s*S&P/NZX 50 index dropped 2.1% this week* as the impact of the global energy shock starts fuelling fears the Reserve Bank will hike interest rates. *The NZX50 dropped 160.39 points, or 1.2%, to 12,905.67 on Friday,* Read more <www.goodreturns.co.nz/article/976525461/nzx50-sinks-2-1-this-week-as-inflation-creep-starts-to-weigh.html> ——————————
*Petrol prices and diesel prices have seen major monthly increases* – with *petrol going up 18.6% *and *diesel prices jumping 42.6%*, according to Statistics New Zealand. Read more <www.interest.co.nz/economy/138124/petrol-prices-jumped-19-while-diesel-prices-increased-43-february-march-according> ——————————
The immediate* impact of the Middle East conflict *has been measured in a sharp surge in fuel prices, while *consumer spending has been softer.* Read more <www.1news.co.nz/2026/04/17/latest-spending-data-what-were-cutting-back-on-or-going-without/> ——————————
*Westpac increases some fixed home loan and term deposit rates* Read more <www.nzherald.co.nz/business/westpac-increases-some-fixed-home-loan-and-term-deposit-rates/PHGWXBUZKZBGHI3CIQJ6IITQSY/> ——————————
*Auction activity rose back to stronger levels this past week *after the prior two holiday-shortened weeks. The* sales rate changed little, rising only to 36% from 34% the prior week.* Read more <www.interest.co.nz/property/138132/bounce-back-number-residential-properties-going-auction-sales-rate-little-changed> ——————————
Hoard Your Emergency Fund, And Other *Pieces Of Investment Advice You Might Need To Ignore*. There are some pieces of investment advice that seem to always (or most often) hold true. Read more <www.scoop.co.nz/stories/BU2604/S00269/hoard-your-emergency-fund-and-other-pieces-of-investment-advice-you-might-need-to-ignore.htm> ——————————
FANZ to *up the ante against NZ’s soaring medical inflation*. Following a passionate session on New Zealand’s soaring medical costs at the recent National Adviser Conference Read more <www.goodreturns.co.nz/article/976525460/fanz-to-up-the-ante-against-nz-s-soaring-medical-inflation.html> ——————————
*Why Canterbury’s crop farmers are leaving the industry* Read more <www.rnz.co.nz/news/country/592723/country-life-why-canterbury-s-crop-farmers-are-leaving-the-industry> ——————————
*Energy-intensive and domestically-focused sectors are bearing the brunt of rising fuel, fertiliser and freight costs*, according to *ANZ’s latest Agri Focus report.* Read more <www.scoop.co.nz/stories/BU2604/S00275/forestry-arable-and-domestic-growers-brace-as-middle-east-conflict-bites.htm> ——————————
Award-winning Far North winery *Okahu Estate has closed its doors five months after the death of its passionate founder Monty Knight.* Knight established the Kaitāia vineyard and winery about 40 years ago Read more <www.nzherald.co.nz/the-country/news/okahu-estate-winery-at-kaitaia-closes-after-40-years-of-winemaking/ODH5EHIG7NFG5BU25YRV5V2A34/> ——————————
*Port Nelson’s marine haul-out and maintenance facility*, operating as Calwell, *officially opened *this morning. Representatives of the Crown and Kānoa joined iwi, industry and community leaders to celebrate the event. Read more <www.scoop.co.nz/stories/BU2604/S00277/port-nelsons-marine-haul-out-facility-opens-boosting-regional-economy.htm> ——————————
NZX-listed *Channel Infrastructure has declined to comment on speculation in Australian media that it is close to buying ExxonMobil’s New Zealand terminals business.* “We don’t comment on market speculation,” Channel said in a statement Read more <www.nzherald.co.nz/business/companies/energy/exxonmobil-nz-fuel-terminals-channel-infrastructure-tipped-as-buyer/NDCRVUGDGJDWBF4NAXVTDFTTCQ/> ——————————
*Mainfreight’s chief executive says he is “frustrated” at KiwiRail and Auckland Transport*, and that the agencies could be doing more as the Middle East conflict sends fuel prices up. Read more <www.1news.co.nz/2026/04/17/mainfreight-frustrated-with-kiwirail-at-for-lack-of-additional-services/> ——————————
*Prezzy Cards being drained of money before they can be used* Read more <www.1news.co.nz/2026/04/17/prezzy-cards-being-drained-of-money-before-they-can-be-used/>
*Australia Headlines*
*Australian Market Report:* *S&P/ASX 200, edged down slightly on Friday*, closing 8.1 points* lower at 8946.9*, and adding to a weaker showing the day before. Read more <www.smh.com.au/business/markets/asx-set-to-dip-wall-street-steady-oil-prices-climb-20260417-p5zolv.html> ——————————
*Consumers are cutting back on spending amid higher risk of global recession* Read more <www.abc.net.au/news/2026-04-17/fears-of-another-lockdown-amid-fuel-shortages-recession-risk/106568312> ——————————
*Thousands of Australians entered the workforce at the start of the year*, but experts warn it *could be the calm before the storm and rates may rise again.* Read more <www.news.com.au/finance/work/careers/first-economic-impact-of-iran-war-revealed-in-new-australian-jobs-data/news-story/80c13fdfb8298c788ae284e787d4b408> ——————————
*Fixes to improve housing supply* to make home ownership more affordable are *”going to take decades to filter through”, *with the federal government’s 1.2 million new home target “not going to be met”, Read more <www.abc.net.au/news/2026-04-17/housing-supply-top-priority-for-productivity-commissioner/106571582> ——————————
Australian* rents jump again* as vacancy crisis deepens and households spend record share of income on housing Read more <www.news.com.au/finance/real-estate/renting/australian-rents-jump-again-as-vacancy-crisis-deepens-and-households-spend-record-share-of-income-on-housing/news-story/a4069521623244e6d6c21a784e68f8c6> ——————————
*Can MySuper work for MyRetirement?* Actuaries are backing a default-style MySuper approach to the retirement phase of superannuation – a ‘MyIncome’ product which is a pre-set account-based pension Read more <financialnewswire.com.au/superannuation/can-mysuper-work-for-myretirement/> ——————————
*Super funds seek to coordinate sector’s cyber threat response* Read more <www.itnews.com.au/news/super-funds-seek-to-coordinate-sectors-cyber-threat-response-625099> ——————————
Advice firm *Esencia Wealth has expanded into Queensland through simultaneous mergers with Financial 3 Wealth and Marsden Wealth Advisers*, adding about 300 clients and four advisers to its national business. Read more <financialnewswire.com.au/financial-planning/esencia-wealth-enters-queensland-with-dual-merger/> ——————————
3 catalysts, dividend upside, no macro required. *The ASX energy stock this fundie is buying*. Markets are holding up, but risks are building. One fund manager reveals where pricing hasn’t caught up and where opportunity sits. Read more <www.livewiremarkets.com/wires/3-catalysts-dividend-upside-no-macro-required-the-asx-energy-stock-this-fundie-is-buying> ——————————
Lithium price, ASX lithium stocks, global lithium stocks — *the bull is back, so what’s moving the most now?* Read more <www.marketindex.com.au/news/lithium-price-asx-lithium-stocks-global-lithium-stocks-the-bull-is-back-so-whats-moving-the-most-now> ——————————
*Titanium Sands* has bolstered its war chest and is racing into the home stretch, with *environmental studies wrapping up and the mining approvals process now gathering pace in Sri Lanka.* Read more <thewest.com.au/business/public-companies/titanium-sands-firms-funding-as-sri-lankan-mining-licence-looms-c-22155607> ——————————
*Gold Fields and Great Southern Mining *are sharpening the diamond bits in preparation for a return to the duo’s expansive*Edinburgh Park gold grounds in north Queensland,* with diamond drilling set to begin Read more <www.smh.com.au/business/companies/gold-fields-great-southern-ready-rig-for-big-qld-gold-target-20260417-p5zovt.html> ——————————
*ASX lithium shares rally *as oil shock highlights EV appeal Read more <www.fool.com.au/2026/04/17/asx-lithium-shares-rally-as-oil-shock-highlights-ev-appeal/> ——————————
*Forrestania Resources is officially on the move *after trucking the first load of gold ore from its *British Hill deposit* to its recently acquired and soon-to-be-refurbished*Lake Johnston processing facility* Read more <thewest.com.au/business/bulls-n-bears/forrestania-hauls-first-gold-ore-to-wa-lake-johnston-hub-c-22152131> ——————————
Australian billionaire mining magnate *Andrew Forrest is asking a US federal court in Silicon Valley to hold Meta accountable for scam ads* using his likeness without permission. Read more <www.abc.net.au/news/2026-04-17/andrew-forrest-battles-meta-over-fake-ads/106574806> ——————————
*SKS Technologies Group expands data centre contract to $210M* Read more <themarketonline.com.au/sks-technologies-group-expands-data-centre-contract-to-210m-2026-04-17/> ——————————
*Eden Innovations has launched a dedicated defence and infrastructure push* under its new *EdenShield division*, alongside a $4.05m capital raise to support commercialisation. Read more <stockhead.com.au/tech/eden-launches-edenshield-military-defence-push-backed-by-4m-raise/> ——————————
*4DMedical Shares Pull Back* as Profit Taking Cools Rally, and RSI Read more <thebull.com.au/news/4dmedical-shares-pull-back-as-profit-taking-cools-rally-and-rsi/> ——————————
*Abbott Laboratories* (NYSE:ABT) did what it needed to on the numbers this week — but that wasn’t enough to steady the stock. The healthcare giant *reported a solid first-quarter result, with steady growth across its core businesses. * Read more <www.proactiveinvestors.com.au/companies/news/1090727/inside-biotech-abbott-s-solid-quarter-isn-t-enough-as-21b-bet-rattles-investors-1090727.html> ——————————
*Australia is being urged to improve ticketing transparency after a US federal court found Live Nation Entertainment had a harmful monopoly* over big concert venues. One insider *estimates Australians pay A$10 in fees per ticket* Read more <www.theguardian.com/australia-news/2026/apr/18/us-live-nation-and-ticketmaster-verdict-triggers-calls-for-australian-investigation-into-ticketing-rules> ——————————
Beverage giant* Coca-Cola has suggested it could pull out of Queensland’s container refund scheme* if major reforms are implemented. Read more <www.abc.net.au/news/2026-04-17/coca-cola-containers-for-change-reforms-queensland/106571816> ——————————
*Controversial dental scheme* leaves Australians toothless and *stripped of retirement savings. *A bombshell investigation has revealed a devastating and widespread practice that’s targeting Aussies and leaving them broke. Read more <www.news.com.au/finance/superannuation/controversial-dental-scheme-leaves-australians-toothless-and-stripped-of-retirement-savings/news-story/ece2b0291f17282b27cbcb831cf24840> ——————————
*Cigno Australia, BSF Solutions and directors fined $7 million *over payday lending scheme Read more <www.abc.net.au/news/2026-04-17/cigno-australia-bsf-solutions-fined-payday-lending-scheme/106577802> ——————————
*Comment* – Mark LaMonica: *A top performing ‘AI share’ accidently ended up in my portfolio*. Trying to make sense of a share caught up in irrational exuberance. Read more <www.morningstar.com.au/stocks/unconventional-wisdom-top-performing-ai-share-accidently-ended-up-my-portfolio> ——————————
*Analysis* – Colin Kruger: If you have any property dealings in Australia, chances are you have had a relationship with the group formerly known as *CoreLogic*, a data giant which feeds the entire real estate ecosystem Read more <www.theage.com.au/business/companies/it-s-the-vibe-court-brawl-hinges-on-alleged-industrial-scale-data-hack-20260416-p5zok6.html>
*International Headlines*
*U.S. Market Report:* The benchmark *S&P 500 and the tech-heavy Nasdaq touched all-time highs on Friday,* while the blue-chip *Dow hit its highest level since late February*, as investors cheered Iran’s decision to open the Strait of Hormuz. Read more <www.reuters.com/business/wall-st-futures-climb-middle-east-peace-hopes-investors-eye-strong-finish-week-2026-04-17/> ——————————
*European Market Report:* European stocks *closed on a strong note on Friday*, buoyed by news that Iran has declared the Strait of Hormuz completely open to commercial traffic on the heels of the 10-day ceasefire between Israel and Lebanon. Read more <www.rttnews.com/3640018/european-stocks-close-on-strong-note-after-iran-opens-strait-of-hormuz-for-commercial-traffic.aspx?type=eucom> ——————————
*Asian Market Report:* Asian stocks* ended mostly lower on Friday*, snapping a three-day rally as investors sought more clarity regarding further developments in a potential U.S.-Iran peace deal ahead of the expiry of a two-week truce next week. Read more <www.rttnews.com/3639891/asian-shares-slip-as-investors-await-clarity-on-u-s-iran-peace-talks.aspx?type=acom> ——————————
*Oil prices plunge on claims Strait of Hormuz is open* Read more <www.axios.com/2026/04/17/hormuz-iran-oil-prices> ——————————
Oil drops, stocks soar to wrap up a *wild week. What just happened in markets?* Read more <edition.cnn.com/2026/04/17/investing/oil-strait-hormuz-iran> ——————————
*Gasoline could drop below $4 in coming days* Read more <www.npr.org/2026/04/17/nx-s1-5788819/oil-gasoline-cheaper-war-iran> ——————————
*Software stocks have bounced back *after the first-quarter SaaSpocalypse, but investing pros say the rally could be short-lived. Software popped as risk-on sentiment was reignited on Wall Street following the US-Iran ceasefire Read more <markets.businessinsider.com/news/stocks/software-stocks-rally-tech-ai-igv-nasdaq-qqq-analysts-bounce-2026-4> ——————————
*Mohamed El-Erian has warned investors of problems in private credit*, but he also sees* trouble brewing in the market for US government debt.* Read more <markets.businessinsider.com/news/stocks/mohamed-el-erian-bond-market-supply-problem-economy-debt-spending-2026-4> ——————————
*White House chief of staff *Susie Wiles *plans to sound out Anthropic CEO *Dario Amodei about the artificial intelligence company’s *new Mythos model,* which has attracted attention from the federal government Read more <apnews.com/article/white-house-anthropic-meeting-ai-mythos-f3c590fcee98297832973d02d3979c87> ——————————
Finance ministers, central bankers and financiers have expressed* serious concerns about a powerful new AI model they fear could undermine the security of financial systems.* Read more <www.bbc.com/news/articles/c2ev24yx4rmo> ——————————
Drone maker *AEVEX’s *(AVEX.N), *shares jumped 15% in their debut *on the New York Stock Exchange on Friday, signaling growing investor appetite for defense-linked businesses as governments ramp up military spending Read more <www.reuters.com/business/drone-maker-aevex-valued-26-billion-shares-rise-nyse-debut-2026-04-17/> ——————————
*Talen Energy prices $4 billion in senior notes* for power plant acquisition Read more <www.investing.com/news/assorted/talen-energy-prices-4-billion-in-senior-notes-for-power-plant-acquisition-432SI-4621536> ——————————
*Viatris Inc. stock rises Friday,* outperforms market Read more <www.marketwatch.com/data-news/viatris-inc-stock-rises-friday-outperforms-market-572afb59-a12df585b2cb?mod=home_ln> ——————————
For years, *Netflix* top brass would tell investors they were builders not buyers. Now, that *sentiment toward growth may be changing.* On Thursday Netflix reported its quarterly earnings. Read more <www.cnbc.com/2026/04/17/netflix-mergers-m-a-strategy.html> ——————————
*Reed Hastings to Step Down as Netflix Chair*. The co-founder of the streaming giant will leave its board in June, the company said. Read more <www.nytimes.com/2026/04/16/business/media/reed-hastings-netflix-chair.html> ——————————
*Meta *(META.O), *intends to conduct a first wave of sweeping layoffs planned for this year on May 20,* with *more coming later, *three sources familiar with the plans told Reuters. The Facebook and Instagram owner will lay off Read more <www.reuters.com/world/meta-targets-may-20-first-wave-layoffs-additional-cuts-later-2026-2026-04-17/> ——————————
*Shares of International Flavors & Fragrances Inc. * IFF +5.30% *advanced 5.30% to $75.88 Friday*, on what proved to be an all-around great trading session for the stock market Read more <www.marketwatch.com/data-news/international-flavors-fragrances-inc-stock-outperforms-competitors-on-strong-trading-day-1f2489c4-b1a17d7f3161?mod=home_ln> ——————————
The* former chief executive and chief financial officer of iLearningEngines,* which provided AI-driven business automation technology, were *indicted on charges they defrauded investors and lenders *by fabricating “virtually all” Read more <www.reuters.com/legal/government/ex-ceo-ex-cfo-bankrupt-ai-company-charged-with-fraud-2026-04-17/> ——————————
*IMAX appoints interim CEO during Gelfond’s medical leave* Read more <www.investing.com/news/assorted/imax-appoints-interim-ceo-during-gelfonds-medical-leave-432SI-4621617> ——————————
*Canadian housing starts decrease 6% in March* Read more <www.reuters.com/world/americas/canadian-housing-starts-decrease-6-march-2026-04-17/> ——————————
Systematic* hedge funds boughts stock at a record pace in the last five trading sessions*, adding *$86 billion of stock exposure,* said a Goldman Sachs note published late Thursday and seen by Reuters on Friday shows. Read more <www.reuters.com/sustainability/boards-policy-regulation/hedge-fund-stock-buying-hits-86-billion-iran-peace-hopes-goldman-data-shows-2026-04-17/> ——————————
*Macron and Starmer welcome Hormuz reopening *and push for permanent navigation security Read more <apnews.com/article/hormuz-strait-iran-blockade-britain-france-10518e69aecbb986c9118ff42ab0ca02> ——————————
*European natural gas prices slump *after temporary Hormuz reopening announced Read more <www.investing.com/news/commodities-news/european-natural-gas-prices-slump-after-temporary-hormuz-reopening-announced-4620981> ——————————
*UK economy grew faster than expected in February ahead of Iran war* Read more <www.bbc.com/news/articles/cz0e23r0993o> ——————————
*EasyJet has announced the conflict in the Middle East cost it about £25 million* in higher jet fuel prices last month. The Luton-based airline said it expects to report a headline loss before tax of between £540 million and £560 million Read more <www.independent.co.uk/news/business/easyjet-middle-east-luton-international-energy-agency-fatih-birol-b2958778.html> ——————————
The media tycoon *Richard Desmond has vowed to appeal after a resounding defeat in his claim for up to £1.3bn in damages from the Gambling Commission *over its decision not to award him the 10-year licence Read more <www.theguardian.com/uk-news/2026/apr/17/richard-desmond-loses-damages-battle-with-gambling-commission-ending-national-lottery-dispute> ——————————
Recruiter *Hays has revealed further hefty cuts to its workforce *as it ramped up cost cutting in the face of a difficult jobs market. The firm said it had *slashed its worldwide consultancy staff numbers by 14% *in the year Read more <www.independent.co.uk/news/business/hays-shares-ireland-germany-b2958922.html> ——————————
*OnlyFans*, the UK adult video platform, is* in talks to sell a minority stake to a US investor that will value the business at more than $3bn (£2.2bn).* The London-based company is in advanced talks to sell a stake of less than 20% to Read more <www.theguardian.com/technology/2026/apr/17/uk-onlyfans-3bn-valuation-sell-stake-us-architect-capital-leonid-radvinsky> ——————————
*Italy saw modest growth in Q1*, supported by Olympics, central bank estimates Read more <www.reuters.com/business/italy-saw-modest-growth-q1-supported-by-olympics-central-bank-estimates-2026-04-17/> ——————————
A *58% jump in TSMC’s quarterly profit*, announced on April 16, *should change how investors think about the AI economy. *Those numbers are not speculative, based on projections or optimistic. They’re *realized profits* Read more <asiatimes.com/2026/04/ai-booms-real-profits-are-being-made-in-asia/> ——————————
*China’s leading LED chipmaker and its Malaysian partner have abandoned their US$239 million cash offer to purchase Dutch technology company Lumileds Holding *after opposition from US authorities, marking the *latest setback* Read more <www.scmp.com/tech/big-tech/article/3350520/chinese-led-chipmakers-purchase-dutch-firm-collapses-after-us-opposition?module=top_story&pgtype=section> ——————————
*Japan says recent yen moves driven by speculative trade* Read more <www.reuters.com/world/asia-pacific/japan-says-recent-yen-moves-driven-by-speculative-trade-2026-04-17/> ——————————
*India is rapidly strengthening its position in global electronics trade,* now supplying about 40 per cent of the smartphones imported by the United States that were previously sourced from China. Read more <timesofindia.indiatimes.com/business/india-business/india-supplies-40-of-us-smartphone-imports-replaces-china-report/articleshow/130337810.cms> ——————————
Sagarmala Finance Corp.,* India’s first maritime-focused non-banking financial company, plans to raise as much as 100 billion rupees ($1.08 billion) *in financial year 2027 to expand lending for ports, shipbuilding, and waterways Read more <www.reuters.com/sustainability/climate-energy/indias-first-maritime-focused-lender-eyes-1-bln-fy27-fundraise-2026-04-17/> ——————————
*Analysis* – Allison Morrow: *Private credit is worrying Wall Street. Here’s how it might affect everyone else*. On top of everything else pummeling consumers right now — spiking gas prices, soaring grocery bills, an uncertain job market Read more <edition.cnn.com/2026/04/16/business/private-credit-consumers-nightcap> ——————————
*Analysis/Comment* – Bloomberg: *What Centuries of Mistakes Can Teach Us About Saving For Retirement*. From hoarding cash to buying stocks, a new book traces 300 years of financial advice and shows why what feels safe Read more <www.bloomberg.com/news/articles/2026-04-17/saving-for-retirement-lessons-from-300-years-of-financial-history?srnd=homepage-asia>
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