Weekly Wrap: A focus on finance companies

What is useful to recognise is that there will be good news and bad news, but the former may get lost by the mainstream media. I look at Hanover's six-monthly release this week as an example. You'd have to say that making a $17 million profit and having $80 million in the bank isn't a bad result in this current market where good deals are there to be done, but it's hard to get money in the door.

In reviewing the media, some writers tended to focus on the fall in profit. I wonder if that is doing anyone any good?

On the bad news side, we have the first receivers' report on C+M Finance, which isn't that pretty, and news that MFS shares have been suspended from trading on the NZX. Getting info on this is proving pretty difficult, however one view is expressed in today's Blog.

What's happening at MFS? What is happening at MFS in New Zealand? Is it the end of the line? Yesterday the company had its shares suspended from trading on the NZX and it appears that the company has gone into lock down mode. [more]