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Market Wrap Up – June 2024

2 July 2024

S&P 500

Adobe’s stock rallied with double digit growth in revenue and earnings At 24.14 per cent growth, the Adobe stock price represents a significant rebound from its 21 per cent drop since the market peak in 2021.

Carnival Corporation, the world’s largest cruise ship operator, also saw significant growth in June, with quarterly results beating analyst expectations and a percentage leap of 24.14 per cent.

NZX

Scales Corp led the charge in June, with a percentage growth increase of 7.15 per cent. The apple, pet food and logistics company recently announced the acquisition of a number oforchard assets, after a dramatic year in 2023 when Cyclone Gabrielle wreaked havoc on the horticultural economy.

Infrastructure investor Infratil’s recent announcement of an additional funds-raise of $1.150 billion for its data centre company CDC is a sign of the company’s strength, this part of the portfolio now valued at $4.4 billion, which is a 26 per cent increase from the previous year. The percentage growth of 6.9 is a reflection of this optimism.

Fear, FOMO and Fundamentals

Fear, FOMO and Fundamentals

Global equities produced strong gains during the June quarter, even as investors grappled with Middle East tensions, volatile oil prices and uncertainty around inflation and interest rates.

Market Wrap Up

Market Wrap Up

Pie Funds’ founder and chief investment officer Mike Taylor explains why February’s market rotation is a reminder that sentiment can shift quickly  – but fundamentals rarely move as fast as prices.

The overlooked asset

The overlooked asset

KiwiSaver is often overlooked in the average Kiwi’s retirement plan, writes John Bell from Kauri Wealth. But it’s a key component of financial wellbeing post-65.