South Island companies overcame a tough and challenging three
months to achieve a hard-fought gain of $159.2 million in
capital value for the June quarter, according to the Deloitte
South Island Index.
Electricity generator Mighty River Power produced some
impressive statistics for the three months ended June but the
ongoing uncertainty about the future of Tiwai Point continues
to weigh on investor sentiment.
Hot on the heels of low inflation data and another plunge in
dairy prices, Westpac chief economist Dominick Stephens is
now forecasting the official cash rate to fall to a new low
of 2% by the end of the year.