Data-heavy day flattens NZ market

Data-heavy day flattens NZ market
It was all quiet on the NZ sharemarket front today. (Image: Getty)
Ella Somers
It was all quiet on the New Zealand sharemarket front today, even as the US Federal Reserve rate pause was announced, closely followed by the reveal that gross domestic product (GDP) had shrank 0.1%.Statistics NZ said the GDP shrinking in the three months ended March 31 had followed a slightly larger contraction than previously reported of 0.7% in the December quarter.Also, the US Federal Reserve announced early Thursday morning (NZ time) that it was taking a much-anticipated pause in its rate hikes – but a couple more are likely on the c...

More Markets

US giant's Three Waters win could be unwound
Infrastructure

US giant's Three Waters win could be unwound

Gentrack queries Koch-owned firm's win. DIA says there will be an 'off-ramp'. 

Tower announces ‘prudent’ strategic review
Markets

Tower announces ‘prudent’ strategic review

Tower believes a 'thorough examination' of its ownership structure is a good idea.

Carbon auction set to fail, depriving the govt of $900m
Markets

Carbon auction set to fail, depriving the govt of $900m

But it may set the scene for record carbon high prices in 2024.