NZX 50’s ‘leaky tyre syndrome’ delivers worst year in a decade

Peter McIntyre from Craigs IP said the share market was suffering from “leaky tyre syndrome”. (Image: Getty)

Tue, 14 Dec 2021

The New Zealand share market, barring a small miracle, is on track for its worst annual performance in more than a decade – a fact market participants seem surprisingly blase about. In any other year, you might expect a 4.5% fall in the benchmark equity index to result in some fairly apocalyptic headlines. Instead, a newspaper column written by Craig Investment Partners’ Mark Lister appeared under the heading: “2021 just wasn’t our year”.Peter McIntyre, also from Craigs IP, said the share market was suff...

Unlock all stories free for 10 days

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

We won’t charge for 10 days. You can cancel anytime with two clicks, an email or a phone call. Find out more.

We are serious about journalism.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].interval) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

You will be charged in 10 days unless you cancel beforehand.
We will remind you three times before charging you.
All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Markets Market close

NZ sharemarket up 0.4% to end the week

The S&P/NZX 50 Index closed at 11,794.81, up 48.15 points or 0.41%.

Graham Skellern 6:12pm

Infrastructure

Work on first seven roads of national significance begins

The Govt is prioritising 17 Rons as part of its $22b land transport plan.

Rebecca Howard 11:30am

Work on first seven roads of national significance begins

Retail

Liquidators investigate sale of three Pizza Hut stores

Maloita sold three Wellington Pizza Hut stores prior to its liquidation.

John Anthony 10:30am

Liquidators investigate sale of three Pizza Hut stores

Sponsored

Five steps to potent data monetisation

Realising the true value of an organisation’s data.

Spark

Sponsored

Smart chargers don't just charge EVs

They also take the pressure off a stressed power network - We.EV

We.EV

More Economy

Retail

Briscoe Group says tax changes will hit FY net profit by $7.4m

New legislation affects depreciation on commercial buildings.

Rebecca Howard 11:00am

Economy

Core Crown tax revenue higher than expected in May accounts

Government tax intake is $1.57 billion higher than forecast, according to the latest Crown accounts.Treasury released the interim financial statements for the 11 months ended May 31 on Wednesday morning, which showed core Crown tax revenue was $111.12b.This was 1.4% more than the...

Staff reporters 04 Jul 2024