Thanks for your commentary on New Zealand on 24 Oct. Spot on! Incidentally, the reason for the Electricity sector’s outperformance is that the 20 Sep election returned the National government, removing the risk of potentially sector damaging reforms proposed by the Labour opposition.

Eoin Treacy's view

Thank you for this informative email, you kind words as well as some additional suggestions for recent IPOs which we will add to the Library. New Zealand has an impressive history of improving standards of governance which has helped support the market and its impressive export sector despite the turn down in commodity prices.

The stock market continues to react positively to the election result and is one of a very small number of global indices hitting new highs at the present time.