Markets

MARKET CLOSE: Reserve Bank measures limit virus-driven stock slide

Dan Brunskill
Wed, 12 Aug 2020

Reserve Bank stimulus helped soften a fall by New Zealand equities as investors reacted to a covid-19 flare-up which has put Auckland back into a level-3 lockdown. The S&P/NZX 50 Index declined 153.41 points, or 1.3 percent, to 11,491.91. Within the index, 42 stocks fell, six rose, and two were unchanged. Turnover was $218.8 million. A hasty late-night press conference, in which the Prime Minster Jacinda Arden announced four unexplained cases of covid-19 and placed Auckland into at least a three-day lockdown, primed every stock in the ind...

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