Late rally leaves market on positive note

Late rally leaves market on positive note
Electricity stocks helped the market into the green today.
The New Zealand sharemarket staged an admirable comeback to end the day in positive territory after being down almost 1 per cent at one stage.The S&P/NZX 50 recovered from its intraday low of 11,635.75 with a late rally sending the benchmark index up 28.98 points to 11,759.11, for a gain of 0.25 per cent following Wednesday’s 40-point decline.There were 58 gainers and 71 decliners over the whole market with a light turnover of 13.2 million shares worth $54.83 million changing hands.“We did see a nice improvement, mostly led by I...

More Markets

NZ sharemarket boosted by energy stocks, Fletcher
Markets Market close

NZ sharemarket boosted by energy stocks, Fletcher

The S&P/NZX 50 Index closed at 11,789.39 points, up 71.95 points or 0.61%.

Rakon investor raises issues over failed bid
Markets

Rakon investor raises issues over failed bid

Minority investor Mike Daniel has raised fresh questions about a $400 million bid that was ultimately snubbed by Rakon’s board.The NZ Shareholders Association (NZSA) shares Daniel’s disappointment that millions were spent on takeover talks with nothing to show, but also offered s...

New Talisman Gold Mines halts trading
Markets

New Talisman Gold Mines halts trading

On Monday, Australian and New Zealand Exchange-listed New Talisman Gold Mines halted NZX trading.The halt follows the Australian Securities Exchange's (ASX) decision to suspend trading in New Talisman Gold Mines securities on that exchange following the release of the company...

Glenbrook to get big grid-scale battery as Contact teams up with Tesla
Markets

Glenbrook to get big grid-scale battery as Contact teams up with Tesla

Contact Energy has teamed up with electric car company Tesla to build a grid-scale 100-megawatt battery at Glenbrook at a cost of up to $163 million.The company said the battery would enhance Contact’s renewable-energy flexibility and provide enough electricity for more than two...