MARKET CLOSE: New Zealand shares ease as govt unveils $12.1b crutch for business

MARKET CLOSE: New Zealand shares ease as govt unveils $12.1b crutch for business
Dan Brunskill
New Zealand shares recovered from an early selloff as the government announced a $12.1 billion stimulus package to bolster the domestic economy in the face of a looming recession. The S&P/NZX 50 Index declined 42.20 points, or 0.4 percent, to 9,434.74, its seventh consecutive decline. Within the index, 29 stocks fell, 18 rose, and three were unchanged. Turnover was heavier than usual at $316 million. Finance Minister Grant Robertson today announced $12.1 billion would be injected into the economy to soften the impact of the global pandemi...

More Markets

NZX 50 ends the week down 1.5% in flurry of index reweighting
Markets Market close

NZX 50 ends the week down 1.5% in flurry of index reweighting

The S&P/NZX 50 index dropped 89.42 points, or 0.8%, to 11,682.39.

Paul McBeth 21 Jun 2024
KMD Brands guidance undershoots analysts' forecasts
Retail

KMD Brands guidance undershoots analysts' forecasts

Group sales between February and May have fallen 8.4% year-on-year.

Analysts downgrade Channel Infrastructure
Infrastructure

Analysts downgrade Channel Infrastructure

The move follows BP's selling its stake.

Ian Llewellyn 21 Jun 2024
NZ shares rally as economy edges out of recession
Markets Market close

NZ shares rally as economy edges out of recession

The S&P/NZX 50 index rose 100.62 points, or 0.9%, to 11,771.81.

Paul McBeth 20 Jun 2024