MARKET CLOSE: NZ shares rise as coronavirus fears boost demand for yield plays

MARKET CLOSE: NZ shares rise as coronavirus fears boost demand for yield plays
Dan Brunskill
New Zealand shares rose as companies paying reliable dividends became more attractive in an environment where fears over the economic impact of the coronavirus outbreak have pushed down global bond yields. The S&P/NZX 50 Index gained 131.95 points, or 1.1 percent, to 11,834.54. Within the index, 30 stocks rose, 11 fell and nine were unchanged. Turnover was $181.4 million.The yield on the US 10-year Treasury has dropped about quarter of a percentage point so far this year as investors fret over the impact of the coronavirus outbreak on...

More Markets

NZ sharemarket falls 1%
Markets Market close

NZ sharemarket falls 1%

The S&P/NZX 50 Index closed at 11,804.84, down 111.94 points or 0.94%.

Graham Skellern 16 Apr 2024
Fletcher subsidiary Easysteel looks to cut jobs
Markets

Fletcher subsidiary Easysteel looks to cut jobs

Workers left 'stunned' by company's restructuring proposal, First Union says.

Gregor Thompson 16 Apr 2024
Scott Tech revenue up but profit down
Markets

Scott Tech revenue up but profit down

Scott Technology’s profit fell 42% on one-off costs in the half year to Feb 29 2024, but revenue is up 11% to $141 million on the back of a company refocus.Scott specialises in automated and robotic manufacturing processes. It attributed its revenue growth to its Scott 2027 strat...

Staff reporters 16 Apr 2024
NZX in for a tongue-lashing at AGM
Markets

NZX in for a tongue-lashing at AGM

A proposed 38% increase in the pool for directors' fees is not universally applauded.

Pattrick Smellie 16 Apr 2024