Late rally leaves market on positive note

Electricity stocks helped the market into the green today.

Thu, 04 Jan 2024

The New Zealand sharemarket staged an admirable comeback to end the day in positive territory after being down almost 1 per cent at one stage.The S&P/NZX 50 recovered from its intraday low of 11,635.75 with a late rally sending the benchmark index up 28.98 points to 11,759.11, for a gain of 0.25 per cent following Wednesday’s 40-point decline.There were 58 gainers and 71 decliners over the whole market with a light turnover of 13.2 million shares worth $54.83 million changing hands.“We did see a nice improvement, mostly led by I...

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Law & Regulation

FMA files criminal charge against Prem Gounder

The Financial Markets Authority (FMA) has filed a criminal charge against former Auckland-based financial adviser Prem Gounder for dishonestly using a document.The FMA alleges that Gounder, while acting as a licensed financial adviser, submitted a false document, namely a gifting...

Staff reporters 12:40pm

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