Investors sell shares in flood-hit Hawke's Bay companies

(Image: Getty)

Wed, 15 Feb 2023

Investors have sold shares in listed companies based in Napier and Hawke's Bay as they predict Cyclone Gabrielle's damage will hurt earnings. The damage is significant. The New Zealand Defence Force said on Wednesday morning it had rescued hundreds of people that were trapped as riverbanks burst and flooded areas surround Hastings and Napier. About 9,000 people have been displaced by the storm and half a dozen bridges have been damaged or washed away entirely. While the full impact of the storm is still unknown, invest...

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