MARKET CLOSE: Coronavirus hits tourism stocks again

MARKET CLOSE: Coronavirus hits tourism stocks again
Dan Brunskill
New Zealand shares fell for a third day as investors attempted to price the risk posed by coronavirus. Tourism-related companies including Tourism Holdings and Air New Zealand led the market down. The S&P/NZX 50 Index declined 122.03 points, or 1 percent, to 11,685.11. Within the index, 35 stocks fell, 10 rose, and five were unchanged. Turnover was $117.8 million, with trading bouncing back as investors returned from holidays. Grant Davies, an investment adviser at Hamilton Hindin Greene, said the NZX was following a negative lead from gl...

More Markets

Livestock Improvement Corp posts strong profit but warns of FY26 one-offs
Primary Sector

Livestock Improvement Corp posts strong profit but warns of FY26 one-offs

Dairy genetics company Livestock Improvement Corporation (LIC) posted a stronger result for the 12 months to May 31, but warned the current financial year would be impacted by one-offs.LIC booked a full-year after-tax profit of $30.6 million for the 12 months to May 31, up from $...

Warehouse reshuffles exec team
Retail

Warehouse reshuffles exec team

The Warehouse Group has reshuffled its executive team ahead of its leadership transition at the end of the month.On Friday, the retail group appointed Stefan Knight as chief financial officer. Knight will exit his role as financial director at Spark New Zealand and start on Aug 1...

Why Promisia's promised land is Cromwell
Retail Small Cap Wrap

Why Promisia's promised land is Cromwell

Plus chicken and eggs with BlackPearl, Rua goes for gold in Reefton, and more.

Straker to double Japan office for AI play
Markets

Straker to double Japan office for AI play

The Gisborne-based tech firm has IBM behind it as it seeks new business in Japan.