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Asia

New Zealand Shares Rise; Fonterra Co-operative Group Appoints Elisa Giusti Chief Growth, Strategy Officer

New Zealand shares ended higher on Friday as Asian equities rallied on hopes that a Middle East peace deal is finally taking shape.The S&P/NZX 50 Index rose 1.45%, or 191.71 points, to close at 13,393.87.On Thursday, the Nasdaq Composite rose 2.5%, the S&P 500 increased by 1.8%, and the Dow Jones lifted 1.9%.President Donald Trump said Thursday a deal between the United States and Iran could be signed as early as this weekend, potentially reopening the Strait of Hormuz to shipping. However, Tehran said no final decision had been reached, according to a Thursday Reuters report.Investors will also be keeping an eye on SpaceX's initial public offering, which is set to be the biggest market debut yet, after raising $75 billion and gaining a valuation of $1.77 trillion.In domestic news, manufacturing in New Zealand edged lower in May as the sector struggled with weakening customer demand, higher fuel prices, and global uncertainty from the Middle East conflict, BusinessNZ said.Also, property prices in the US and Mexico are more affordable than in New Zealand, according to a FIFA World Cup-inspired comparison published by Trade Me.In corporate news, Fonterra Co-operative Group (NZE:FCG) appointed Elisa Giusti as chief growth and strategy officer, effective June 15.Ebos Group (ASX:EBO, NZE:EBO) unit Pet Care Distributors' proposed deal to acquire Paringa Pet Foods is under a phase one review by the Australian Competition and Consumer Commission (ACCC).

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Asia

Fonterra Co-operative Group Appoints Elisa Giusti Chief Growth, Strategy Officer

Fonterra Co-operative Group (NZE:FCG) appointed Elisa Giusti as chief growth and strategy officer, effective June 15, according to a Friday filing with the New Zealand bourse.Giusti's responsibilities will include developing integrated market, product, and group strategies, portfolio optimization, and global new business development.

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Asia

Fonterra Co-operative Group Chief Innovation, Brand Officer to Step Down

Fonterra Co-operative Group (NZE:FCG) said that Chief Innovation and Brand Officer Komal Mistry-Mehta will step down, effective October, according to a Tuesday filing with the New Zealand bourse.

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Asia

New Zealand Shares Flat; Bremworth Backs Floorscape Agreement Amid Speculation Over Regulatory Clearance

New Zealand shares ended flat with a negative bias on Thursday as all Asian markets saw a sell-off amid continued hostilities between the US and Iran.The S&P/NZX 50 Index was little changed to close at 13,206.11.The US carried out overnight strikes in Iran targeting a military site and downed four Iranian one-way attack drones deemed a threat near the Strait of Hormuz, according to a Wednesday Reuters report, citing a US official."Over the next 2 weeks, we expect either a deal for a new ceasefire, or the current ceasefire will have collapsed with active hostilities resuming," said Madison Cartwright, a senior geo-economics ​analyst at Commonwealth Bank of Australia, as quoted by Reuters.In domestic news, the seasonally adjusted number of filled jobs across New Zealand industries rose 0.2% month-over-month to 2.4 million in April, following a 0.3% increase in March, data from Stats NZ showed.Also, New Zealand's total number of enterprises rose to 603,354 in April 2026 from 596,721 in April 2025, according to data from stats.govt.nz.In corporate news, Bremworth (NZE:BRW) said it continues to believe that its October 2025 agreement to be acquired by Floorscape represents the best available opportunity to provide value to shareholders.Fonterra Co-operative Group (NZE:FCG) said the opening 2026/27 season forecast farmgate milk price is NZ$9.75 per kilogram of milk solids within a range of NZ$8 to NZ$11.

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Fonterra Maintains 2025-2026 Milk Price, Upgrades Full-Year Forecast on Robust Fiscal Third-Quarter
US Markets

Fonterra Maintains 2025-2026 Milk Price, Upgrades Full-Year Forecast on Robust Fiscal Third-Quarter

Fonterra Co-operative Group (NZE:FCG) has maintained a robust farmgate milk price forecast for the 2025-2026 season after reporting strong fiscal third-quarter earnings despite global supply chain disruptions caused by the Middle East conflict.The cooperative held its farmgate milk price midpoint at NZ$9.70 per kilogram of milk solids, while narrowing its forecast range to between NZ$9.60 and NZ$9.80 per kgMS, down from a previous spread of NZ$9.40 to NZ$10.00.Prices have remained relatively high despite cost inflation and shipping delays stemming from the war in Iran. In March, shipments bound for the Gulf region faced delays following joint U.S.-Israeli missile strikes on Tehran."As we look ahead to next season, we expect milk collections to remain high, in line with this season. Our in-market sales teams are anticipating solid demand from across the regions despite potential volatility, and this is reflected in our opening forecast range," Fonterra CEO Richard Allen said.Looking ahead, the dairy giant announced a strong opening forecast for the 2026-2027 season, setting the farmgate milk price midpoint at NZ$9.75 per kgMS, with an initial range of NZ$8.00 to NZ$11.00.The forecast came as total operating profit for the fiscal third quarter rose year on year to NZ$1.8 billion from NZ$1.7 billion.Underlying earnings per share increased to NZ$0.57 from NZ$0.53 in the previous year.Allen noted that the cooperative's strategic focus on growing its Ingredients and Foodservice channels enabled it to return NZ$3.2 billion to shareholders. The Ingredients division capitalized on sustained protein demand from the U.S. and Europe, while the Foodservice unit delivered solid growth in both margins and sales volumes.Supported by this performance, the company raised its forecast for full-year earnings to between NZ$0.60 and NZ$0.70 per share."Looking ahead, Fonterra has strong foundations and a clear strategy to deliver value through our global Ingredients and Foodservice businesses," Allen said. "Our full-year earnings guidance reflects the strong shipment volumes expected in the final quarter of the year."

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Asia

Fonterra Co-operative Group Discloses Opening Farmgate Milk Price Forecast; Raises Fiscal 2026 Earnings Guidance

Fonterra Co-operative Group (NZE:FCG) said the opening 2026/27 season forecast farmgate milk price is NZ$9.75 per kilogram of milk solids within a range of NZ$8 to NZ$11, according to a Thursday filing with the New Zealand bourse.The company said the farmgate milk price midpoint for the current season remains at NG$9.70 per kilogram of milk solids, with the range narrowing to between NZ$9.60 and NZ$9.80 from NZ$9.40 to NZ$10.The 2026/27 opening forecast reflects potential impacts from geopolitical risks and inflationary pressures across the season, Fonterra said.The company also raised its fiscal 2026 earnings guidance range NZ$0.60 to NZ$0.70 per share, up from a previous outlook of NZ$0.50 to NZ$0.65 per share. It reported fiscal third-quarter underlying earnings of NZ$0.57 per share, up from NZ$0.53 a year earlier.The company's shares were up more than 2% in recent Thursday trade.

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Asia

Fonterra Co-operative Group to End Engagement With Fitch Ratings

Fonterra Co-operative Group (NZE:FCG) will end its engagement with Fitch Ratings on June 1 and will maintain one external credit rating under S&P Global Ratings, according to a Friday filing with the New Zealand bourse.The move reflects the company's focus on operating as a simpler business, it said.

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Asia

NZX Midday Sector Update: Consumer Durables Sector Soars, Consumer Non-Durables Shares Struggle

The consumer durables shares gained the most on New Zealand's Exchange, rising 3% on Monday.Shares of KMD Brands (NZE:KMD, ASX:KMD) rose 3% in recent trade.On the flip side, the consumer non-durables sector struggled, shedding nearly 2%.Fonterra Co-operative Group (NZE:FCG) fell almost 3% in recent trade.

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Asia

New Zealand Shares Fall Amid Failed US-Iran Peace Talks; Fonterra Co-operative Group Implements Over NZ$3 Billion Capital Return

New Zealand shares closed lower on Monday as all Asian markets saw losses after peace talks between the US and Iran failed during the weekend.The S&P/NZX 50 Index fell 1.22% or 161.26 points to close at 13,020.18.US President Donald Trump warned on social media that the US Navy would immediately begin blockading all ships attempting to enter or leave the Strait of Hormuz after a failed talk with Iran.The US military said it will begin a ​blockade of all maritime traffic entering and exiting Iranian ports and coastal areas on Monday."The market is now largely back to conditions before the ceasefire, except ​now the US will block the remaining up to (2 million barrels) Iranian-linked flows through the Strait of Hormuz as well," said MST Marquee analyst Saul Kavonic, as quoted by Reuters."The key remaining question is if the US renews strikes on Iran, raising the risk of strikes on energy infrastructure across the region, which could have a further ​lasting impact beyond the duration of the war," Kavonic added.In domestic news, the Reserve Bank of New Zealand (RBNZ) is now expected to consecutively increase the official cash rate three times by 25 basis points in July, September, and October, taking the policy rate to 3%, according to a report by ANZ.Also, New Zealand's fuel spending jumped a massive 15% month-on-month in March as prices surged, siphoning a large amount of cash from households' wallets and weighing on spending in other areas, said Westpac.Further, New Zealand's services sector shrank in March, posting its third consecutive monthly decline as the conflict in the Middle East impacted consumer confidence, with discretionary spending hit particularly hard, BusinessNZ said.In corporate news, Fonterra Co-operative Group's (NZE:FCG) roughly NZ$3.2 billion capital return to shareholders was implemented on April 10.Synlait Milk (NZE:SML, ASX:SM1) said it implemented enhanced testing earlier this year for all infant formula products, which resulted in extended release times and also had an impact on working capital requirements.

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Asia

NZX Midday Sector Update: Non-Energy Mineral Stocks Jump, Consumer Non-Durables Struggle

Non-energy mineral stocks advanced more than 1% at midday Monday.Fletcher Building (NZE:FBU, ASX:FBU) shares rose past 2% in recent trade.On the flip side, the consumer non-durables sector struggled, shedding past 20%.Fonterra Co-operative Group (NZE:FCG) fell almost 28% after the company's roughly NZ$3.2 billion capital return to shareholders was implemented on April 10.

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Asia

Fonterra Co-operative Group Names Richard Allen as Next CEO; Shares Tumble 30%

Fonterra Co-operative Group (NZE:FCG) named Richard Allen as its next chief executive, effective May 1, succeeding Miles Hurrell, according to a Monday filing with the New Zealand bourse.Allen most recently served as president of global ingredients at Fonterra, per the filing.Hurrell will stay with the company in an advisory role until September to facilitate the transition.Fonterra's shares were down 30% in recent Monday trading.

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Asia

Fonterra Co-operative Group Implements Over NZ$3 Billion Capital Return; Shares Dive 30%

Fonterra Co-operative Group's (NZE:FCG) roughly NZ$3.2 billion capital return to shareholders was implemented on April 10, according to a Monday filing with the New Zealand bourse.Payments to shareholders and unit holders will be processed on Tuesday, the company said.Fonterra's shares plummeted 30% in recent Monday trade.

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