MARKET CLOSE: NZ shares plunge as country prepares for shutdown

Dan Brunskill
Mon, 23 Mar 2020

The share market plunged more than 7 percent today as the Prime Minister confirmed evidence of community transmission of covid-19 and announced the country had 48 hours to prepare for strict isolation. The S&P/NZX50 fell 697.72 points, or 7.6 percent, to 8,98.70. Within the index, 49 stocks fell, and one rose. Turnover was $267.2 million. The government today ratcheted up its response to the mounting virus outbreak by imposing a national lockdown from 11.59pm Wednesday. All bars, restaurants, cafes, cinemas, civic amenities and all non...
Coronavirus
Southern Cross Travel to shed 45 jobs
Brent Melville | Tue, 02 Jun 2020

Southern Cross Travel Insurance plans to cut half of its remaining workforce in the wake of limited travel under covid-19 restrictions, although the rest of the group remains unscathed. The company...

Markets
MARKET CLOSE: NZ shares soar as investors get FOMO
Dan Brunskill | Tue, 02 Jun 2020

New Zealand shares rose as investors found confidence in the Prime Minister bringing forward a decision about the move to alert level 1. Tourism Holdings and Gentrack led the market higher with double...

Property
Metlifecare seeks shareholder support for action against ex-suitor, EQT
Paul McBeth | Tue, 02 Jun 2020

Metlifecare will seek shareholder support to pursue litigation against its former suitor after the High Court rejected an application that would have preserved a shareholder vote on the teetering $1.5...

SPONSORED
Telcos in lockdown, and beyond

Geoff Thorn, CEO, NZ Telecommunications Forum says modern connectivity was a major benefit during lockdown, so it’s important to ensure long term sustainability of the networks