‘Bloodbath’ on local market; NZX50 slumps 10%

‘Bloodbath’ on local market; NZX50 slumps 10%
Paul McBeth
The S&P/NZX 50 Index slumped more than 10 percent for the first time ever as investors dumped shares as the government prepares to put New Zealand into lockdown.The benchmark index sank 943.79 points, or 10.3 percent, to 8,252.48 at 3pm in Wellington, the lowest level in two years. That's its biggest intraday decline ever, according to Refinitiv data.Travel companies and tourism operators have been among the hardest hit in recent months as investors weighed up the impact of the covid-19 outbreak. However, the government today ratcheted up i...

More Markets

NZ market falls, F&P Healthcare bolsters trading
Markets

NZ market falls, F&P Healthcare bolsters trading

All eyes are on the US Federal Reserve. 

Graham Skellern 12 Jun 2024
Willis calls for select committee inquiry into banking
Finance

Willis calls for select committee inquiry into banking

She wants the Finance and Expenditure and Primary Production Committees to join forces.

Rebecca Howard 12 Jun 2024
Booster KiwiSaver used funds for related wine investment: FMA
Markets

Booster KiwiSaver used funds for related wine investment: FMA

The market watchdog alleges 75 causes of action from 2017-22.

FMA seeking consultation on changes to DI licences
Finance

FMA seeking consultation on changes to DI licences

The FMA is seeking consultation on changes to the Derivative Issuer licenses

Staff reporters 11 Jun 2024