Investors hard on soft earnings as NZ sharemarket continues to slide

Kathmandu warned of more pain ahead. (Image: Nick Reed)

Tue, 20 Feb 2024

A dogged New Zealand sharemarket, again falling more than half a percent, continued to show no mercy on soft earnings updates, with KMD Brands (formerly Kathmandu) hitting an all-time low.The S&P/NZX 50 was on a gradual decline all day and closed at 11,571.22, down 82.05 points or 0.7%. The index has fallen on nine of the last 11 trading days and is down 2.5% so far this month.There were 78 decliners and 49 gainers on the main board with 30.72 million shares worth $110.56m changing hands.KMD Brands, which listed as Kathmandu in 2009, declin...

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