MARKET CLOSE: NZ shares fall as simmering US-China tensions push gold to record

MARKET CLOSE: NZ shares fall as simmering US-China tensions push gold to record
Dan Brunskill
New Zealand shares had a soft start to the week as building tensions between the US and China stoked demand for defensive assets such as gold, which hit an all-time high.  The S&P/NZX 50 Index declined 50.64 points, or 0.4 percent, to 11,585.62. Within the index, 31 stocks fell, 12 rose, and seven were unchanged. Turnover was $121.1 million. Gold prices hit a record US$1,943.92 per ounce, and were recently at US$1,934/oz, as investors piled into the precious metal as the tit-for-tat consulate closures between the US and China last week ke...

More Markets

NZ sharemarket bounces back 0.5%
Markets Market close

NZ sharemarket bounces back 0.5%

The S&P/NZX 50 Index closed at 11,852.8, up 56.58 points or 0.48%.

Ryman CEO Umbers' tenure ends abruptly
Markets

Ryman CEO Umbers' tenure ends abruptly

Company chair Dean Hamilton will take over as interim executive chair.

TradeWindow $2.2m raise closes over-subscribed
Markets

TradeWindow $2.2m raise closes over-subscribed

The company reiterated its guidance that it will be breaking even.

Air NZ issues profit downgrade on soft conditions
Markets

Air NZ issues profit downgrade on soft conditions

North American market impacted by competitive pricing pressures.