High flying Air NZ does not lift the sharemarket

Strong results from Aukland airport and Air NZ did not lift the market (Image: DepositPhotos)

Thu, 24 Aug 2023

Uncertainty crept back into the New Zealand sharemarket, down more than half a percent, despite solid financial results from high-flying Air NZ and Auckland International Airport.The S&P/NZX 50 Index dipped in the early afternoon and closed at 11,502.13, declining 69.8 points or 0.6%.There were 68 gainers and 66 decliners on the main board, with 28.33 million shares worth $96.31m changing hands.Jeremy Sullivan, an investment advisor with Hamilton Hindin Greene, said the general election was approaching quickly and business confidence was lo...

Subscribe to BusinessDesk

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

You can cancel anytime with two clicks, an email or a phone call.
Find out more.

We are serious about journalism.

Already a Subscriber ? Sign in here.

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].name) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

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

NZX 50 dips despite Fletcher Building's 4.6% gain

Pacific Edge shares gained after it said it got a step closer to Medicare approval.

Gregor Thompson 5:58pm

The Quiz Free

QuiznessDesk, Monday, Sept 15

Think you're clever enough?

The Quizmaster 9:15am

Economy

First look at NZICC, and SkyCity's hopes for $70m fund

SkyCity's COO says a new govt fund should help fill empty hotel rooms across Auckland.

Dileepa Fonseka 9:00am

First look at NZICC, and SkyCity's hopes for $70m fund

Sponsored

Future leaders start by Dreaming Big

How OnBeingBold empowers Year 13 girls at free leadership events.

OnBeingBold

Sponsored

Free AI training blitz targets 10,000 Kiwis

Workshops aim to close NZ’s AI skills gap and boost productivity – no tech skills required.

Sponsored by Lumify

More Markets

Markets Market Close

NZX 50 dips despite Fletcher Building's 4.6% gain

Pacific Edge shares gained after it said it got a step closer to Medicare approval.

Gregor Thompson 5:58pm

Markets

ANZ agrees to record A$240m fine for widespread misconduct

ANZ has agreed to pay the largest penalty its Australian regulator has ever issued an entity in one go, due to failings in the bank’s dealings with both the Government and its retail customers.ANZ and the Australian Securities and Investments Commission (ASIC) will ask the Federa...

Staff reporters 12:01pm

Markets

Trade Window looks to boost profile with ASX listing

Trade Window is moving to broaden its investor base with a secondary listing in Australia.The Auckland-based trade software firm said on Monday that with its secondary listing, it was pursuing "the goal of increasing its profile among the broad pool of investors across the Tasman...

Staff reporters 10:05am

Finance

Banks revise economic outlooks for Q2 GDP contraction

Economists now see NZ's GDP contracting in Q2, but doubt a technical recession in Q3.

Andy Macdonald 5:00am

High flying Air NZ does not lift the sharemarket

More Markets

Your company has a subscription

Team