Shane Solly: Harbour Asset Management spokesperson on Fletcher Building handing over Convention Centre project to SkyCity

Fletcher Building's shares have bounced back up after the business completed and handed over part of their NZ International Convention Centre project.

The project is back in SkyCity's hands - with the project on track to reopen by the end of the year.

Harbour Asset Management spokesperson Shane Solly explains further.

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Episode Transcript

Speaker 1 (00:00):
To the markets. We're going to have a look at
the impact the US presidential debate had on markets shortly,
but first let's get an update on Fletcher Building. Shane
solely from Harbor Asset Management is with us A.

Speaker 2 (00:08):
Shane, Hey, how are you going?

Speaker 1 (00:10):
Very good? Thank you? So Fletcher's handed the hotel of
Disgui City hasn't.

Speaker 2 (00:13):
Yes, it has? Yes. Yeah, And look, I think Fletchers
Building share throws up six percent today after really delivering
an outcome that we haven't seen for a while from Fletcher's,
which is actually delivering a project on and within a
time frame, within a within a budget. And certainly that's
been a bit of a bit of a boost. UNSA
blowout in costs something expected, and certainly there's a few

(00:36):
more hurdles for Fletcher's to clear, but this is a
positive that's certainly in the right direction.

Speaker 1 (00:42):
Yeah, absolutely, Now okay, how did the markets react to
that debate?

Speaker 2 (00:46):
Yeah, Look, it was a pretty interesting outcome as that
the day went by. Certainly the market side to price
and more potential for a Trump victory. Still very early
in the campaign. It's a long way Togo, but certainly
what investors we're focusing and on was the rests around
some of the Trump policies, particularly trade protections, and this
is the one where there's a lot of chat about

(01:06):
increasing tariff on Chinese inputs in particular, that would be
inflationary and potentially could trigger a broader trade war. Policies
about tax cuts, really embedding those existing text cuts permanently,
immigration restrictions, and unwinding some of the clean green energy
initiatives that have been put in place by the current

(01:27):
Democrat government. So look, a little way to go, but
soon it's put of Vesta's on the back foot, you know,
the weary about what those policy changes could do.

Speaker 1 (01:36):
And what about the immigration restrictions, what would be the
impact of that if Trump was in.

Speaker 2 (01:41):
Yeah, look, the focus is on undocumented workers. This is
potentially stagflationary. It potentially slows economic growth while increasing the
cost of labor and Cuminly, I think one of the
things that the Democrats can point to is, Hey, this
opening the borders up, letting people come on, which is
what the US is for decades, has actually been good

(02:02):
for the economy. Everybody's got a different perspective. I think
it's about the process, which is clearly what the Republican
Trump League government looked to tight up.

Speaker 1 (02:12):
Yeah, interesting stuff, Shane, thank you very much, appreciate it.
Look forward to talking to you again. That's Shane Solly
of Harbor Asset Management. For more from Hither Duplessy Allen Drive,
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