MARKET CLOSE: NZ shares fall as China drops growth target

Dan Brunskill
Fri, 22 May 2020

New Zealand shares fell as China didn't set a target for gross domestic product growth, spurring concern about the global economic recovery. The S&P/NZX 50 Index fell 68.92 points, or 0.64 percent, to 10,662.63. Within the index, 29 fell, 16 stocks rose, and five were unchanged. Turnover was $100.2 million, the lowest in more than three months. China declined to set a GDP growth target for the first time since 1990 at its annual week-long meeting of the National Peoples' Congress in Beijing which began today. The Chinese economy experi...
Finance
Regulator sues ANZ over credit card insurance
Dan Brunskill | Fri, 05 Jun 2020

The Financial Markets Authority has filed High Court proceedings against ANZ Bank New Zealand, alleging it charged some customers for credit card repayment insurance policies that offered those custom...

Markets
MARKET OPEN: Profit taking may be the flavour of the day, US jobs data in focus
Rebecca Howard | Fri, 05 Jun 2020

Weaker offshore markets may spill over into New Zealand as investors look to lock in profits after several positive days. Wall Street is set to end its four-day rally ahead of the May non-farm payr...

Infrastructure
Loss expected from NZ Steel on covid shutdown
Gavin Evans | Fri, 05 Jun 2020

BlueScope Steel’s New Zealand business could post its first half-yearly loss in four years on the back of the country’s strict covid-19 shutdown, Jarden analysts say. The New Zealand Steel and Paci...

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