F&P Healthcare sends NZX 50 lower as covid restrictions lift

The healthcare stock has previously told investors to watch hospitalisation rates for a signal on revenue. (Photo: supplied)

Dan Brunskill

Wed, 23 Mar 2022

Fisher & Paykel Healthcare dragged New Zealand’s benchmark equity index lower on Wednesday as it warned revenue would be reduced as covid comes under control.The S&P/NZX 50 Index fell 153 points, or 1.3%, to 12,051.59. Turnover was $115 million.F&P Healthcare, which has the largest weighting on the index, did the most damage. It dropped almost 8% to $25.68 – its lowest price since March 2020 – after warning full-year revenue would be down roughly 13% on the prior year.Greg Smith, head of retail at Devon Funds, said...

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Govt reshuffle: Lee demoted, Simmonds loses portfolio

Melissa Lee has been stripped of her media and communications portfolio and dropped from the cabinet, prime minister Christopher Luxon announced today.He has given Paul Goldsmith the portfolio after Lee was widely criticised over her public handling of the numerous issues facing...

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