MARKET CLOSE: NZ shares fall as Sky TV, Steel & Tube warn on earnings

MARKET CLOSE: NZ shares fall as Sky TV, Steel & Tube warn on earnings
Paul McBeth
New Zealand shares fell as investor confidence was dented by profit warnings from Sky Network Television and Steel & Tube Holdings.  The S&P/NZX 50 Index declined 21.54 points, or 0.2 percent, to 10,873.16. Within the index, 23 stocks fell, 21 rose, and six were unchanged. Turnover was $90.1 million.  Sky TV led the market lower, sliding 6.3 percent to 89 cents on a volume of 782,000 shares, less than its 90-day average of one million. The pay-TV operator forecast earnings and revenue to fall in the 2020 financial year due to accounting r...

More Markets

NZ sharemarket drops as US market rallies
Markets Market Close

NZ sharemarket drops as US market rallies

The S&P/NZX 50 Index closed down 1.02% or 122.14 points.

Radius buys care home off Arvida
Property

Radius buys care home off Arvida

Radius Care will have another 109 beds in Christchurch.

‘It really is upwards from here,’ Pacific Edge CEO
Markets

‘It really is upwards from here,’ Pacific Edge CEO

The AUA’s guideline has made Pacific Edge’s tests a talking point. 

Airports v airlines and the regional monopoly conundrum
Policy Analysis

Airports v airlines and the regional monopoly conundrum

Why is airport regulation being reviewed when all the fuss is about airfares?