A bleak August for the sharemarket ends on a slight uplift

A bleak August for the sharemarket ends on a slight uplift
End of the month balancing resulted in $368.39m changing hands. (Image: Depositphotos)
Graham Skellern
The New Zealand sharemarket, unsettled by mixed company results, a slowing economy and election uncertainty, fell more than 4% in August – the worst trading month for over a year.The S&P/NZX 50 Index went as low as 11,455.71 in the morning before recovering strongly to close at 11,554.48, up 33.36 points or 0.29%. It meant the index was down nearly 4.15% for the month – the previous biggest slide was 3.9% in June last year.The session was extended for the quarterly rebalancing of the MSCI indices, and in the flurry of late tradi...

More Markets

NZ sharemarket boosted by energy stocks, Fletcher
Markets Market close

NZ sharemarket boosted by energy stocks, Fletcher

The S&P/NZX 50 Index closed at 11,789.39 points, up 71.95 points or 0.61%.

Rakon investor raises issues over failed bid
Markets

Rakon investor raises issues over failed bid

Minority investor Mike Daniel has raised fresh questions about a $400 million bid that was ultimately snubbed by Rakon’s board.The NZ Shareholders Association (NZSA) shares Daniel’s disappointment that millions were spent on takeover talks with nothing to show, but also offered s...

New Talisman Gold Mines halts trading
Markets

New Talisman Gold Mines halts trading

On Monday, Australian and New Zealand Exchange-listed New Talisman Gold Mines halted NZX trading.The halt follows the Australian Securities Exchange's (ASX) decision to suspend trading in New Talisman Gold Mines securities on that exchange following the release of the company...

Glenbrook to get big grid-scale battery as Contact teams up with Tesla
Markets

Glenbrook to get big grid-scale battery as Contact teams up with Tesla

Contact Energy has teamed up with electric car company Tesla to build a grid-scale 100-megawatt battery at Glenbrook at a cost of up to $163 million.The company said the battery would enhance Contact’s renewable-energy flexibility and provide enough electricity for more than two...