MARKET OPEN: Investors likely cheered by move to alert level 1, positive Wall Street

MARKET OPEN: Investors likely cheered by move to alert level 1, positive Wall Street
Rebecca Howard
The domestic market may gain on news that New Zealand could normalise nearly all activity sooner than expected and after Wall Street ticked up with US investors shrugging off domestic unrest and focusing instead on the economic recovery. Prime Minister Jacinda Ardern signaled New Zealand could shift to alert level 1 as early as June 10.  Alert level 1 is effectively life as usual with the borders still closed.  Ardern had previously said the country would move no later than June 22. The comments came as New Zealand has registered no new c...

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%.

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.

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...

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.