F&P Healthcare drags NZX 50 lower

The NZX's largest stock, Fisher & Paykel Healthcare, slipped almost 4%. (Image: F&P)

Wed, 25 May 2022

New Zealand’s benchmark equity index fell on Wednesday as its largest stock, Fisher & Paykel Healthcare, slipped almost 4% and the central bank said it would raise interest rates further.The S&P/NZX 50 Index fell 73 points, or 0.7%, to 11,173.37. Turnover was $177 million.Fisher & Paykel Healthcare was the biggest drag on the index, falling 3.9% to $19.90 after it reported full year earnings in line with expectations but without much future guidance.The manufacturer’s net profit fell 28% to $376m and revenue dropped 15%...

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