NZX50 sinks 8.5% as investors eye company balance sheets

NZX50 sinks 8.5% as investors eye company balance sheets
Paul McBeth
The S&P/NZX 50 Index dropped 8.5 percent in early afternoon trading as investors have shifted their focus to whether firms are strong enough to withstand a protracted downturn. The benchmark index fell 785.52 points to 8,410.90 at 1pm in Wellington. It earlier dropped as low as 8,388.08, the lowest since April 2018, but clawed back some of those losses when Australia’s S&P/ASX 200 Index opened. Australia’s benchmark index was recently down 5.7 percent. Peter McIntyre, an investment adviser at Craigs Investment Partners, said the local mar...

More Finance

Fast-food chain float could give Fonterra a steer
Finance

Brian Robins: Fast-food chain float could give Fonterra a steer

After a dearth of IPOs, all eyes are on Guzman y Gomez. 

Brian Robins 20 Jun 2024
Whineray appointed new Jarden chair
Finance

Whineray appointed new Jarden chair

Fraser Whineray quit as Fonterra's chief operating officer in July 2023.

Murray Jones 19 Jun 2024
Bluebird improves profits after investment in Wiri site
Finance

Bluebird improves profits after investment in Wiri site

Bluebird Foods NZ has posted a profit of $13.2m for the year ended December 2023.

Staff reporters 18 Jun 2024