FPH, Fletcher drive NZ stocks lower

Takeover target Manawa announced a sharp fall in its annual earnings. (Photo: NZME)

Fri, 16 May 2025

Big falls in Fisher and Paykel Healthcare and Fletcher Building combined to drive the New Zealand sharemarket lower after what had been a strong start to the month.The S&P/NZX 50 Index closed down 0.73% or 94.03 points at 12,786.79, with 25.2 million shares (worth $96.6m) trading.There were 61 falls and 67 rises.Despite the day’s decline, the market has enjoyed a strong period in the month to date.The S&P/NZX 50 Index has gained about 7.5% over that time, making it one of the stronger performers worldwide, Harbour Asset Management...

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