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

Dan Brunskill
Wed, 23 Mar 2022

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

Not convinced yet?

Subscribe to our Daily News Update free newsletter.

The Economist
How attractively are shares now priced?
The Economist | Sun, 26 Jun 2022

What a key valuation measure says about buying the dip.

Wine FREE
The $100 Club: A wine rich list
Bob Campbell MW | Sun, 26 Jun 2022

If you're a wine connoisseur, you're spoiled for choice. The number of high-flying wines on sale for more than $100 has tripled since 2013.

Property FREE
Money Answers: how much mortgage can I actually afford?
Frances Cook | Sat, 25 Jun 2022

This week, readers ask how they should decide as a family what they can afford in terms of buying a house – and just because you can, should you?

Sponsored
Investments to sustain the momentum of building in NZ

Classic Capital has opened its Land & Build fund to qualified wholesale and eligible investors.

Sponsored
High water marks: Watercare raises the tide on sustainability

The No.1 barrier to decarbonisation for NZ organisations is accurate measurement, says Microsoft’s Accelerating the Journey to Net Zero report.