MARKET CLOSE: NZ shares fall in listless trading; power companies gain

Tue, 16 Jul 2019

By Paul McBeth July 16 (BusinessDesk) - New Zealand shares fell for a second day on light volumes, with heavyweights Auckland International Airport, Fisher & Paykel Healthcare and A2 Milk weighing on the broader index. Meridian Energy and Contact Energy rose as the government considers plans for faster transport electrification. The S&P/NZX 50 Index decreased 15.36 points, or 0.1 percent, to 10,651.20. Within the index, 26 stocks fell, 15 rose, and nine were unchanged. Turnover was $83.7 million, with just five companies trading on volume...

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 }}

Law & Regulation

Northland telco fights OneNZ–Uber deal

‘Quite cynical incursion’: Northland telco fights OneNZ–Uber partnership in court.

Garth Bray 4:00pm

Markets

Skellerup eyes US expansion to dodge tariffs

Chair warns rubber manufacturer may need to make significant investment in US.

Rebecca Stevenson 3:25pm

Skellerup eyes US expansion to dodge tariffs

Economy

How Pharmac's set-up risks higher health costs

Pharmac's fixed budget discourages use of cost-saving medicines common elsewhere.

Pattrick Smellie 9:30am

How Pharmac's set-up risks higher health costs

Sponsored

NZ risks losing edge as Australia takes lead in cleaner jet fuel

Experts warn SAF delay could cost jobs and growth.

Z Energy

Sponsored

Focus on safety of SME vehicle fleets

Vehicle glass repairer’s work enhances road safety.

Smith & Smith

More Infrastructure

Infrastructure

Wellington Airport's half-year passenger numbers down, net loss up

Staff reporters 4:50pm

Infrastructure

Marsden Maritime Holdings CEO Rosie Mercer standing down

Marsden Maritime Holdings' chief executive, Rosie Mercer, is stepping down at the end of the year.After three years in the job, she said the decision was a natural transition point for her and the company, as Marsden Maritime Holdings (MMH) was in a strong position and well-p...

Ian Llewellyn 11:20am