MARKET CLOSE: NZ shares fall as Gentrack paints grim earnings outlook

Mon, 20 Jan 2020

New Zealand shares fell today with Gentrack leading the market lower as the software company painted a grim picture for future earnings. The S&P/NZX 50 Index fell 53.26 points, or 0.5 percent, to 11,746.95. Within the index, 25 stocks fell, eight held steady and 17 rose. Turnover was $81.1 million. Gentrack sank 13.6 percent to $2.35, below the $2.40 price the shares were sold at in a 2014 initial public offering. The utilities software developer said annual earnings will drop by as much as two thirds as tighter regulation in Australian a...

Subscribe to BusinessDesk

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

You can cancel anytime with two clicks, an email or a phone call.
Find out more.

We are serious about journalism.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].name) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Economy

US tariff risk less than expected for FPH, Jarden says

Jarden says tariff-related impacts on earnings would be "nominal" by 2030.

John Anthony 11:00am

Markets

Wall Street reels as Trump’s plan sinks markets

The president’s sweeping tariffs proved far more severe than investors predicted.

The Wall Street Journal 9:30am

Wall Street reels as Trump’s plan sinks markets

The Quiz Free

QuiznessDesk, Friday, April 04

Take a break and try our quiz.

The Quizmaster 9:15am

Sponsored

New life in property market

Tax rule changes are bringing back mum-and-dad investors.

Fletcher Living

Sponsored

Commercial property trends: AI, sustainability and growing confidence

Falling rates and green tech shape property investment’s future.

PMG

More Markets

Economy

US tariff risk less than expected for FPH, Jarden says

Jarden says tariff-related impacts on earnings would be "nominal" by 2030.

John Anthony 11:00am

Markets

Jarden says Skellerup 'most exposed' to Trump's tariffs

US President Donald Trump's sweeping global tariffs, announced on Thursday, are expected to have devastating consequences not only in the US but also in New Zealand.In a note on Friday morning, Jarden analysts Guy Hooper and Nick Yeo predicted that NZX-listed Skellerup looks...

Staff reporters 10:50am